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Uncategorized, Weekly Update

Business Cycle/Sector Investing Takes a Curve Ball This Cycle

Published August 23, 2019


Business cycle/sector investing is a seemingly easy way to apply a layer of insight to traditional buy-and-hold investing. By focusing our investment funds on sectors that typically show improved performance during certain phases of the business cycle, a sector investor can presume to outperform the broad market. However, it is never quite that easy. (more…)

Uncategorized, Weekly Update

Paying the bank to hold your money

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Published July 26, 2019


As we’ve noted many times before, the stock and bond markets since the financial crisis have been driven for the most part by the policies of the world’s central banks.  Central banks, such as the Federal Reserve in the United States (the “Fed”) and the European Central Bank (“ECB”), have been very sensitive to markets and have clearly sought to directly influence them.  There is no question they have been successful in this task.  Simply look back to December when U.S. markets were struggling.