After a prolonged period of steadily ratcheting prices, all stock indices sold off abruptly over the last week. The breakdown in discussions on trade between the US and China has been blamed for the swoon. In fact, this was the case since nothing else has really changed in the past few months. While the selloff … Continue reading Now What?
The Big Picture
Apple And Tom Brady
2018 ended quite differently than we would have imagined considering the positive start to the year. Long term trends and a high level of complacency gave way late in the year to a much more defensive view of the stock markets. While the volatility is unsettling, it's nothing new for the stock markets. On the … Continue reading Apple And Tom Brady
The Maddening Crowd
Much has happened in a very short time. The recent activity in the equity markets showed the flip side of the benign environment that has existed for almost 2 years since November of 2016. We'll leave it to TV market pundits to explain stock market swings ex post facto, but we can make one glaring … Continue reading The Maddening Crowd
Pearls In The Panic
During this most recent dramatic sell off in the US equity markets, many heretofore invulnerable stocks were finally subject to some deserved profit taking. The cluster of dominant market stocks collectively referred to as the "FAANG" stocks, Facebook, Apple, Amazon, Netflix and Google, all sold off, some in the order of 20%, signifying to many, … Continue reading Pearls In The Panic
Hospitality And Hotels
A group which has flown under the radar but which has nevertheless been relatively strong compared to the S&P index are a number of issues in the hotel group. While there are a number of hotels which are owned by ETF trusts and therefore more financial products than pure plays, there are a few which … Continue reading Hospitality And Hotels
The Sanctimony Factor
Over the years, a new factor has emerged when attempting to measure investment suitability, which has little to do with balance sheets, forecasts or indicators. That factor can be generalized as the "social responsibility" component. We recall some of the original victims of socially correct investing which included tobacco and oil companies as well as … Continue reading The Sanctimony Factor
Midyear (almost) Update
Five months following our annual forecast for the Dow Stocks, we show the 6 month period of subsequent activity in the grid of charts below (chart by StockCharts.com) While the details may be difficult to see, the salient point is only to observe which Dow stocks have performed well and which have lagged. The late … Continue reading Midyear (almost) Update
