A Decade Later

A Decade Later

July 2019

It has now been a full decade since global stock markets and economies bottomed.  Despite more than a handful of fits and starts, both have enjoyed long healthy runs.  The US economy peaked in 2008 with GDP of $14.7 trillion and a 5.0% unemployment…


April 2019

The past two quarters have been a strange trip to nowhere for the markets. With US economic growth thought to be still accelerating, the Fed raised rates last October. Despite early signs of weakness in Europe and Asia, they also foreshadowed…

The Great Unwind

January 2019

Ten years ago, the capital markets were frozen, and global economies were in free fall. With liquidity at a premium, all asset classes other than US Treasuries were caught in a deepening bear market. The only tool available to staunch the bleeding…