Hard Data versus Parroting the Media

While the world listens to the media touting new highs in the DOW, our Montgomery County Pension newsletter was received in the mail today. According to the Board of Trustees of the Maryland State Retirement and Pension System, “net earnings after fees on the $45.5 billion investment portfolio were 1.16%

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A Valentine for Yellen

Clients of the fund kindly check the Hedge Fund portal. January statements and the investment letter will be released this evening. Chair Yellen needs to feel a little love. She and ‘The Donald’ got off to a bad start when he threatened her job on the campaign trail. It is little

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Gandhi

Mahatma Gandhi is an unlikely topic for today’s blog- but most relevant. He has a timely quote, “It is unwise to be too sure of one’s own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err.” The scariest position for investors should

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Showdown Part Two

The picture and chart above shows the level of optimism regarding the Federal Reserve today. Specifically, that the optimism of the Fed Chair policies wax and wane with the highs and lows of the stock market. As one can observe, Fed Chair Yellen may be at the peak of optimism

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No Showdown Yet

The FOMC meeting ended this week with barely a Meh. While Fed Chair Yellen took a pass on raising rates this month, President Trump has been pushing the dollar down. We haven’t seen Trump and Yellen confront each other publically; (actually we don’t even know if they have ever met

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The Magical Mystery DOW

The cover of Barron’s over the weekend touted a DOW 30K.  This article leaves us reminiscing of the Washington Post cover in 2005 touting the Real Estate market just before the crash. (That cover had a beautiful picture of a Ferris wheel, representing the wild ride. We kept a copy for posterity

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Economic Indicators

The latest economic indicators are posted below.  In a nutshell, home sales (existing and new) are lagging and are likely to decrease even more as rates increase.   Q4 GDP came in below expectations, but will be revised next month, with the final number coming out in March.  Overall, the economic picture is drab. The Federal

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The Lemon Frog Saga

Before we discuss the Lemon Frog, some economic numbers were released today. Preliminary GDP for Q4 came in at 1.9%, lower than the 2.2% forecast, lower than the 3.5% Q3 number and lower than the sustainable 3.3-3.7% needed for a healthy U.S. economy. Our economy continues to grind without a

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Trump Turnaround and Protests

The sharp upward move in US markets following the evening of the election had stalled for about 50 days until the Dow and other indices made new highs yesterday. The VIX, volatility index has remained low under 11 yesterday. Earnings season has been basically lackluster and bonds have been little

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Finally, the DOW hit 20,000

We don’t know about you, but we sure are glad the Dow finally hit 20K. It’s about time. Also, we are just flat out tired of hearing the media noise every time the Dow makes a new high. Maybe they will settle down and report some pertinent news now. We

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