What has the market told us over the past three months?  Pretty much what it has been shouting for the past eleven years. Without additional stimulus and government spending there’s just not enough economic growth to support prices at these levels and to meet current debt obligations. Slow growth wouldn’t be so bad if it [...]

For the last year or so as I’ve been visiting with clients during our periodic reviews, I’ve often shared my belief that after all of the stimulus of the past few years has been enacted, the economy will eventually have to stand on its own two feet.  If it can’t, our global finance ministers may believe that [...]

Last week’s market action saw the major world averages soar on the rumor that the European Central Bank will orchestrate yet another bank bailout.  With many major European banks teetering on the brink of insolvency due to exposure to Greek, Portuguese, Irish, and now Italian debt, the market had been pricing in a systematic freezing [...]

The start of the 4th quarter is decidedly bearish, with the first two days seeing significant market losses. Our managed portfolios continue to hold extreme cash and bond positions which is helping to significantly limit the amount of deterioration seen in the first few days of the quarter. Click here to access our current view of [...]