Three Things – Moar Tariffs!
Here are some things I think I am thinking about: 1) Why Does the Stock Market Hate Tariffs? One of the predominant trends in Corporate America over the last 40 years has been an expansion in margins. It's one of [...]
Here are some things I think I am thinking about: 1) Why Does the Stock Market Hate Tariffs? One of the predominant trends in Corporate America over the last 40 years has been an expansion in margins. It's one of [...]
As I write this the US stock market is down -2.5% on the day. It's down about -8.5% from its peak just a few weeks ago. Then again, it's up 11% over the last year, 38% over three years and [...]
Here are three bad ideas I think I am thinking about: 1) The Reserve Currency Issuer Doesn't Need a Strategic Currency Reserve. The Trump administration announced a Cryptocurrency Reserve Fund that would hold Bitcoin, Cardano, Solana and Ripple. They seem [...]
Here are some things I think I am thinking about this weekend: 1) A Negative GDP NOW Print!?! It was a wild week in the markets, but the biggest news of the week dropped on Friday when the Atlanta Fed [...]
Here are some things I think I am thinking about. 1) The WalMart Warning. Markets fell over -1.5% on Friday as global PMIs disappointed on the downside and WalMart warned about their earnings for the year. How worrisome is this? [...]
Here are some things I think I am thinking about: 1) Inflation STILL Isn't Scary. In the wake of Wednesday's CPI report there were all sorts of scary narratives about how inflation is raging and we're on the verge of [...]
So. Tariff Man is back and apparently more serious than ever. At least for now. Let's talk about the good, the bad and the ugly. I hope this doesn't sound political, but that's probably unavoidable. So if you have hate [...]
Here are some things I think I am thinking about: 1) The Lifetime of Stocks is...Shrinking. I loved this chart from Bank of America which shows the average lifespan of companies in the S&P 500 since 1960. The message from [...]
Here are some things I think I am thinking about this weekend. 1) There's Still a Strong Disinflationary Bias at Work. One of the most important pieces of news this week was the New Tenants Rent Index. The NTRI leads [...]
Warning - This is probably an "old man screams at cloud" rant, but we all have to embrace our old age at some point so here goes nothing.... One of the great strengths of the USA is its capital markets. [...]