• Time to Shift

    July 13, 2020

    The recently rising COVID data points are discouraging from many angles. One could look at the data and think that it is time again to bombproof the portfolio like back in February and March. But that was back when there were so many unknowns about the virus. This time around, we know more about what we are dealing with and we have much evidence showing how to deal with this pandemic.

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  • So Close

    June 29, 2020

    Miami beaches, Texas taverns and the LA bar scene all shuddered for the long holiday weekend. We almost made it to a wider opening for the Fourth of July. But science doesn’t sleep and it never takes holidays. We knew that the reopenings could lead to COVID spikes and business disruptions and this one sure did at a terrible time. Is there a silver lining in this new surge of case growth? Yes.

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  • Beware of the Fangs

    June 22, 2020

    As COVID cases and hospitalizations continue to rise in several warmer-weather, southern states, the market is rotating quickly back toward the mega-cap FAANG stocks. With all of the State re-openings and an increase in economic activity, I would have thought the market would be excited by the broad spending lift.

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  • Ouch

    June 15, 2020

    Time for a pause. I am not a fan of that much volatility in such a short period of time. I have never seen the market move from short-term overbought to short-term oversold in a three-day period. In fact, no one has ever seen it because it has never happened. (And, it has only happened twice in the last 93 years over a four-day period.) The rise in COVID cases, the FOMC meeting, and the Robinhood traders are getting all the blame; but I don’t think that was the cause.

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  • Open for Business

    June 8, 2020

    We expected that the reopening of businesses would have been a tailwind for the stock market but we did not anticipate a hurricane-force wind. This just shows you how many investors were defensively, or even negatively positioned going into the big openings. As New York City opens its doors today, it is only fitting that the U.S. stock market is witnessing one of its most powerful buying sprees in 17 months.

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