There is an old expression in the investment industry: “Don’t fight the Fed.” It doesn’t matter if the Fed is being foolish or not. In the short term, it just simply doesn’t pay to bet against…
Thought Leadership
When the ball dropped in Times Square on New Year’s Eve, very few people in the investment industry were sorry to see 2022 in the rearview mirror. In truth, it was one of the more frustrating…
In no uncertain terms, the two big question marks in the U.S. economy during 2022 were inflation and the Federal Reserve. More specifically, to what length would the Federal Reserve go to crush what had become…
01. FEDERAL RESERVE The Federal Reserve will continue its course during the 1st quarter of 2023 and will likely raise the overnight target an additional 50 basis points. This will take the upper range to 5.00%,…
John Maynard Keynes once said, “Markets can stay irrational longer than you can stay solvent.” And while solvency is not an issue, it somehow still grabs the sentiment of the market over the past year. The…
As echoed elsewhere in this edition of our Quarterly Outlook and Overview, 2022 is thankfully over, as it was a year bond investors would like to forget. Should history bear any indication of future results (which…
The year 2023 will mark my 28th year of living in the South. Along with the friendly people and great food, the South can provide some extreme weather. Other than a direct (or near) hit from…
This week, I made four public appearances. Ordinarily, I would say presentations; however, one was a webinar and another was a roundtable discussion. Regardless, I had ample ability to bloviate about the economy and have an…
During the Spanish Civil War, Francisco Franco was famous for supposedly having said he had four army columns approaching Madrid, as well a fifth that was ready to attack from inside. The implication was the Nationalists…
Last week, while most people were enjoying some time off at the end of the year, SECURE ACT 2.0 was signed into law. If this all seems like déjà vu, you are correct because almost three…