real estate

Weekly Market Pulse: Patience Is A Virtue

By |2023-10-01T20:16:48-04:00October 1st, 2023|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks|

Most strategic asset allocation strategies have produced negative returns over the last two years. A 60/40 allocation of Vanguard Total Stock and Vanguard Total Bond is down over 6%. John Bogle's 3-fund portfolio, a global approach that includes an allocation to Vanguard Total International is down nearly 9%. Morningstar has a diversified portfolio that includes 11 different ETFs and it's [...]

Weekly Market Pulse: Where Are The Extremes?

By |2023-09-11T03:54:17-04:00September 10th, 2023|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Markets, Real Estate, Stocks|

Every weekend I sit down at my desk and write the title of this post at the top of a legal pad. I make a list of everything I can identify as trading at an extreme in markets. If an investor is to make tactical changes to their portfolio, it is in the extremes where they will find their greatest [...]

All About The Benjamins

By |2023-06-17T21:17:32-04:00June 16th, 2023|Alhambra Research, Bonds, Economy, Federal Reserve/Monetary Policy, Markets, Stocks, Taxes/Fiscal Policy|

No one could have possibly been surprised by the Fed's lack of action on Wednesday. They had signaled to anyone who would listen that they would pause (skip, take a hiatus, halt, or whatever you want to call it) at this meeting. And no one should have been surprised that Jerome Powell offered some tough talk about the future of [...]

Weekly Market Pulse: Don’t Just Stand There!

By |2023-05-15T09:01:19-04:00May 15th, 2023|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Real Estate, Stocks|

What is long term? That's a question with many answers depending on your point of view. Some people might think a year is long term. I had a client tell me once that he was so old he didn't buy green bananas because he might not be around to eat them. Some might say 3 years is long term but [...]

Weekly Market Pulse: History Lessons

By |2023-04-10T08:39:57-04:00April 10th, 2023|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Real Estate, Stocks|

One of the toughest things about navigating this bear market and the widely anticipated coming recession is that we've had to differentiate between real and nominal economic and market variables like nothing in recent decades. There are very few market commentators today who have navigated an inflationary environment like the current one. I haven't either, of course, which is why [...]

Weekly Market Pulse: What’s Wrong With T-bills?

By |2023-04-03T08:06:00-04:00April 3rd, 2023|Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Real Estate, Stocks|

The first quarter has come to a close and things have changed a lot...and not very much at all. Expectations coming into the year were that rates would peak in the spring at around 5% and then fall in the second half of the year to about 4.5%. That was the highest probability outcome according to the futures markets. Of [...]

Weekly Market Pulse: Good News Is Good News

By |2023-02-27T07:23:06-05:00February 26th, 2023|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks|

I think everyone can agree that stocks and bonds sold off last year because interest rates rose. You might get some argument about why rates rose but the fact they did is sufficient to explain the drop in stocks and bonds. It doesn't matter if you think rates went up because the Fed raised their target rate on Fed funds [...]

Weekly Market Pulse: Maybe It Was Transitory After All

By |2023-01-17T07:34:03-05:00January 16th, 2023|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks|

The inflation report last week was met with a big sigh of relief by investors. Stocks and bonds rallied as the Fed's Whip Inflation Now project seems to be finally bearing some fruit. In reality, inflation peaked months ago but the Fed hadn't really caught on yet - they're a little slow - and the market has been fearing that [...]

Weekly Market Pulse: Follow The Delphic Maxims

By |2022-12-05T07:55:28-05:00December 4th, 2022|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks|

Note: This will be my last full commentary for 2022. I will spend the month of December on research for next year, visiting with family, and taking some much-needed time off. I will still be watching markets, as will all the other members of the Alhambra team and if something happens which requires me to communicate, I'll certainly do that. [...]

Weekly Market Pulse: Good News, Bad News

By |2022-11-14T07:21:49-05:00November 14th, 2022|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks|

One thing I can tell you for certain about last week's big rally on Thursday and Friday: there were a lot of people who desperately wanted a good excuse to buy stocks. And buy they did after a better-than-expected CPI report Thursday morning, pushing the S&P 500 up nearly 6% on the week with all of that coming on Thursday [...]

Go to Top