April 15th was the two-week anniversary of the day my wife and I got our second Moderna shot. We have spent the last 13 months being very careful about the virus, limiting our contacts, social distancing, and generally doing anything that seemed helpful. I am certainly aware that others took a more liberal attitude as is their right. But, for [...]
The answer to the question, "What should I do to my portfolio today (this week, this month)? is almost always nothing. Humans, and especially portfolio managers, have a hard time believing that doing nothing is the right response....to anything...or nothing. We are programmed to believe that success comes from doing things, not not doing things. And so, often we look [...]
The economic data over the last month continued to improve but the breadth of improvement has narrowed. Additionally, while most of the economic data series are still improving, the rate of change, as Jeff pointed out recently, has slowed. I guess that isn't that surprising as the initial phase of the recovery comes to an end. 2nd quarter was a [...]
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