Stocks are a forward looking mechanism. That is drilled into our heads constantly. It means stock market participants are constantly looking ahead at what the future will look like and then assign a "fair" price today to whatever you think the future will hold. The problem with that method is
20 weeks ago, Congress came together and passed a wide-ranging, 800+ page, $2.2 Trillion legislation called the CARES (Coronavirus Aid, Relief, and Economic Security) Act.
15 weeks ago, the House passed the 1800+ page, $3 Trillion HEROS (Health and Economic Recovery Omnibus Emergency Solution) Act. The Senate did not
I'm not sure if the 3 day weekend in celebration of Independence Day was welcome given how different this July 4 was than all the others in my lifetime. I love our country so much, but I found myself needing to stay busy over the 3 days because every time
Being a data driven, scientifically-minded investment manager, we've always been uncomfortable making decisions that did not have a solid basis. Our study of behavioral finance and market history, as well as nearly three decades of experience managing money tells us our brains often can play tricks on us. This realization
The virtual ink had barely dried on my "time to get excited about valuations" post when the Federal Reserve did what, up until that point, most of us thought would never happen. They announced they would not only be buying junk bonds, but also junk bond ETFs. The spread between
