News

  1. Where are we from a business cycle perspective? Any closer to recession?

    May 8, 2017 As it turns out, recessionary risks appear to remain contained. No doubt, this business cycle is long, and in fact, if this continues another year or so, it will be the longest in modern history, rivaled by the extended 1990's and 1960's cycles.

  2. What does the Fed mean when it talks about reducing its balance sheet?

    April 10, 2017 The Federal Reserve maintains a balance sheet of assets and liabilities to serve as a vehicle for holding U.S. treasury bonds that are bought and sold during the Fed's routine open market operations.

  3. Corrections Are Just a Part of This Bull Market

    March 20, 2017 As the current bull market enters its ninth year, it's time to recall that bull markets never go in a straight upward trajectory. Pullbacks of 5% or more and corrections of 10% or more are quite normal. But just how normal are they?

  4. Is the Bull Market Really 8 Years Old?

    March 13, 2017 It doesn't seem that long ago, but stock markets just celebrated an 8-year anniversary from the market lows hit on March 9, 2009, when sentiment hit a trough during the Great Recession.

  5. Happy 8th Birthday, Mr. Bull

    March 8, 2017 March 9 marks the 8th anniversary of our current bull market, three years longer than typical. This has been our second longest bull and our third highest performing. So what's next?

  6. Is the Economy Running 'Hot' Yet?

    March 6, 2017 Probably not, but it's all relative. 'Hot' economies tend to be characterized by over-exuberance, too much risk-taking and taking on credit risk until a peak hits.

  7. Are Equities Overvalued?

    February 27, 2017 We get this question a lot these days, and the answer to it depends upon a variety of factors. We explore two perspectives in detail—value investing and growth investing.

  8. New Advisor Rules Coming for IRAs and Retirement Plans

    February 21, 2017 The Department of Labor's (DOL) Fiduciary Rule about retirement plans has been in the news as the April 10 effective date nears. Here is our analysis and position on it.