It's always interesting how the narratives can shift for the stock market. From the election in November until the middle of February the story was how the "pro-business" policies of President Trump would unlock impressive economic growth, low inflation, lower interest rates, and thus higher than average earnings growth. This
After years of minor battles, last week the Trump Trade War exploded across the globe with his "Liberation Day" announcement on Wednesday afternoon. On day 1 in office he signed an order to study all trade agreements with a due date at the beginning of April. We knew the day
Everything becomes more clear as we gain the benefit of hindsight. My experience and SEM's use of quantitative models which remove emotion from the decision making certainly makes it a bit easier for me to see things a bit more clearly in real-time, but I am also human and there
Relatively speaking, last week was fairly quiet. We did have some Trade War 2.0 whiplash on Monday and early Tuesday and again on Friday, but based on the past month it was nice to focus less on the latest Truth Social post from the President and more on the
One of the hardest lessons for finance graduates is understanding the moves in the market often go completely against the tens of thousands of dollars their education taught them. One reason I enjoy being a guest lecturer at Liberty University is I get the opportunity to teach a small subset
