stock markets

Global Asset Allocation Update: Not Yet

By |2017-07-17T18:22:01+00:00July 17th, 2017|Alhambra Research, Bonds, Commodities, Currencies, Global Asset Allocation Update, Investing, Markets, Real Estate, Stocks|

There is no change to the risk budget this month. For the moderate risk investor, the allocation between risk assets and bonds is unchanged at 50/50. There are no changes to the portfolio this month. Growth and inflation expectations rose somewhat since last month's update. The change is minor though and within the range of [...]

How Much of Equity Prices Is Real?

By |2013-03-05T16:38:12+00:00March 5th, 2013|Markets|

The DJIA is at an all-time high, but how much of it is “real”. Earnings growth dropped to negative two quarters ago, so that removes some of the fundamental appeal of a new high. Comparing economic parameters to the last time markets were at these levels does not offer a favorable context either. There are [...]

Portfolio Changes

By |2012-12-31T16:59:47+00:00December 31st, 2012|Investing|

We made several changes to our portfolios today. This was not in response to the fiscal cliff situation. We believe that fiscal policy will continue to be a contentious issue throughout at least the first quarter. Any deal reached today or this week will only be a band aid that allows the two parties to [...]

The Economy Is Not The Market

By |2012-12-16T19:51:22+00:00December 16th, 2012|Economy, Investing|

The financial press this year has been filled with stories about the economic slowdown in China and the debt crisis in Europe.  Opinions on Chinese growth this year have ranged from dire (a hard landing involving a growth rate most countries would still envy) to bad but not as dire (a soft landing). All the [...]

Deja Vu All Over Again?

By |2011-09-24T22:06:50+00:00September 24th, 2011|Markets|

Worst week for stocks since October 2008. That statement of fact about last week's market evokes feelings of sheer terror for investors everywhere. US stocks, as measured by the S&P 500, were down 6.5% last week but the real carnage was in emerging markets where double digit losses were more the norm than the exception. [...]

Weekly Chart Review

By |2011-09-18T22:02:14+00:00September 17th, 2011|Markets|

-Joseph Gomez The week began with all eyes on the 1140-1143 support level in the S&P 500. Last week, I highlighted the fact that the S&P 500 was in a short-term upward channel and that any breaks from the lower trading band could mean more selling was imminent. The index actually crossed below momentarily but [...]

Weekly Economic and Market Review

By |2011-05-15T16:39:22+00:00May 15th, 2011|Economy|

It appears the markets are finally waking up to some of the myriad of worries I've been scribbling about for the last few months. Commodities have taken a header over the last two weeks on fears about slowing global growth and the impending end of QE II in June. Stocks have held up better, especially [...]

Weekly Economic and Market Review

By |2011-04-03T18:11:33+00:00April 3rd, 2011|Economy|

I spend a lot of time reading the economic tea leaves. Given my well known distrust of politicians and government, it is a bit of ironic that I spend so much time poring over the details of government produced reports but there really is little choice. I also look at privately produced reports such as [...]

Weekly Economic and Market Review

By |2010-06-06T13:44:51+00:00June 6th, 2010|Economy|

I'm on vacation this week but just wanted to make sure and comment about the last week's events. While the big news of the week was obviously the employment report Friday which triggered the big stock market selloff, the economic data actually continues to show pretty steady improvement. Whether that will continue is of course [...]

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