The Fundamental Things Apply

As we look to 2014, many are reflecting on a very strong year for domestic stock markets. However, a key component that is missed by many investors and the media alike is the failure to appreciate how much (or rather how little) of that rally has been justified by an improvement in underlying fundamentals. As […]

The Great “Ifs” of Investing

“If you can keep your head when all about you / Are losing theirs and blaming it on you …” ~ Rudyard Kipling, “If” This rhetorical questioning has certainly resonated over the last six months. Just as we found ourselves soothing fears that the world was not ending through politicians driving us over the “fiscal […]

Is Alice in Euroland, or are Congress and Wall Street in Wonderland?

Lewis Carroll played with logic and fantasy in Alice’s Adventures in Wonderland, leaving popular culture with enduring characters such as the frightening Queen of Hearts, the mad Hatter and the deliriously confused March Hare. The second quarter, one of the more volatile in recent memory, provided quite an adventure for markets. Investors became more anxious as policymakers on both sides of the Atlantic continued to jump down rabbit holes into a land seemingly devoid of any reality.

Bipolar or Tri-polar Economy?

This week’s edition of the Economist leads with an article describing the global economy as experiencing a ‘three-way split’.