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?
There's an old saying that Generals are always fighting the last war. In similar fashion, many stock market participants do the same thing. Since the great market swoon in December of last year, market pundits on video and print media obsess about the return to the new lows, or at least a test thereof. The … Continue reading ‘A Bubblin’ Crude
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
On the recent market decline, many high quality names were thrown out by investors like rotten apples at Whole Foods. A somewhat surprising name among them is IBM. While the chart of IBM was hardly dynamic in the weeks prior to the market's correction, the heavy and continued selling indicates that lots of big money, … Continue reading IBM, Babies And Bathwater
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
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
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