The Path To An A.I. Dot-Com Moment
Late June. That’s when the next selloff is coming. Or at least according to BofA’s
Late June. That’s when the next selloff is coming. Or at least according to BofA’s
“FOMO” is now a fixture of daily market banter. That’s unfortunate, not because it suggests
Outflows from US equities are ongoing. If this feels a bit Phil Connors–ish to you,
Assuming no US default — and as discussed in the weekly+, you pretty much have
So far, 2023 has been kind to beleaguered 60/40 portfolios. As discussed here at some
Earlier this year, Goldman estimated that one-fourth of current work tasks in the US could
This time two months ago, the question was: Is it Bear (Stearns) or LTCM? “It”
Given that the small cohort of large companies we generally refer to as “mega-tech” is
Tuesday’s media spin on the May vintage of a closely-watched fund manager survey lacked important
Equities are disconnected both from macro and policy realities. That’s according to JPMorgan analysts led
You’ve heard it before: “Sell the last hike.” That’s a familiar refrain for those who
Do Americans even care about the economy anymore? You’d think the answer is (still) a
“2023 is in no way comparable to 2008.” How many times have you heard that
Outflows from US-focused equity ETFs and mutual funds now exceed $50 billion for 2023. Generally
Much has been made of the recent collapse in market breadth across US equities, and
So-called “Greedflation” may be propping up US corporate profits for now, but as the old
“Sell the last hike.” It’s a familiar refrain from one popular sell-side strategist, and he
There’s been no capitulation in aggregate equities flows. So far in 2023, stock-focused ETFs and
Infallible or not, the yield curve is a cliché as a recession indicator. Indeed, those
Two things you can count on in addition to death and taxes are investor complacency
When will the world’s largest economy fall into recession? Right now, or sometime very soon,
If last year’s cross-asset malaise taught us anything, it’s that no correlation, no matter how
A couple of days ago, I mentioned the 25/25/25/25 portfolio again. The case for embracing
Are central banks “locking in” above-target inflation? You’d like to think not. And policymakers would
I’ll say one thing for Hoisington’s quarterly letters: They’re efficient. The firm, which is synonymous
The biggest tail risk is now a credit crunch accompanied by a global recession. That’s
Where to from here? “Recession! That’s where.” Or so goes the refrain from seemingly everyone
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