Global Slowdown

The U.S. economy has now experienced its fourth quarter in a row of flat or lower earnings.  On average, S&P 500 earnings are expected to drop 7% to 8% in the first quarter of 2016. The stock market is likely to stay in a trading range until there is greater...

ETF Buyer Beware

In recent years, on days when the stock or bond market is falling quickly, there has also been an even greater than expected increase in the losses on many exchange traded funds (ETF).  On these stressful down days, the feature that makes ETFs work so well most of the...

Market Update – Spring 2014

Five years after the worst financial crisis since the Great Depression, we feel fortunate to be where we are. The past few years reinforced the safe-haven status of the United States and the privilege of being the world’s reserve currency. The picture of U.S. economic...

Market Update – Fall 2013

The quarter ended with a surprising twist. After signaling at its June meeting it might begin tapering its monthly bond-buying program if economic data pointed to a sufficiently strengthening economy, the Fed ultimately opted to stay the course. Shortly thereafter,...

The Bigger Baby Boom

We’re all familiar with the basic story line of the Baby Boom, when post-World War II birth rates doubled during the span between 1946 and 1964. All of us benefited from the increased economic production and consumption brought on by the 75 million...