Market Commentary
Our latest market observations and research.
2016 Fall Financial Market Outlook
Summary This update focused on the challenges facing investors. Retired investors are especially challenged to both protect and grow their portfolios in today’s low return world. We started by highlighting the dual challenges of high stock market valuations coupled...
A New Cyclical Bull Market in the Oil Patch Has Begun
The price of crude oil topped out in June 2014, then bottomed in February 2016 and has since partially recovered. During this period, the price of oil plunged by 76% and reached historic proportions, even in relation to other energy boom and bust cycles of the past. ...
Stocks Are Breaking the Glass Ceiling: 6 Reasons to Be Bullish
At the beginning of 2000, I unsuccessfully submitted a bearish stock market article, A Turn of the Tide, to a well-known US financial publisher. At the time, in the middle of a market mania, my contrarian warning was unwelcome. Ironically, it was later carried by a...
Meeting the Investment Challenges
Summary Our typical portfolio was well positioned and, despite the many challenges, performed nicely with attractive returns. We take comfort in relying on time tested market models, or barometers, to smooth the ride through these challenging periods. You can sleep...
Streamers: The Low Risk Gold Investment
“A mine is a hole in the ground with a fool at the bottom and a crook at the top.” – Mark Twain In May we laid out the case that a new cyclical bull market in gold had begun - Win-Win Case for a Bull Market in Gold – Part 1. As an investment advisor or individual,...
The Win-Win Case for a Bull Market in Gold—Part I
For years I have always thought of the gold price as a discounting mechanism for inflation. In recent months though, the price has rallied sharply under what appears to be a very deflationary background. It could be that gold is looking through all of this and...