Where Has All The Income Gone: We discuss the effects of quantitative easing on future economic growth and the importance of income in today’s market environment. An example of a covered call is also presented. Download April commentary
April 2011
The Big Squeeze on Middle Class America: We discuss inflation,
the Fed´s quantitative easing program and unemployment, as well as potential
actions the government may take to "solve" the debt burden. Download April commentary
January 2011
Investor Letter: We discuss some key market trends and our risk
management process as it relates to the high net worth investor.
Download Jan commentary
October 2010
Less or More?: Consumers and Government Chart Different Paths To Recovery.
We discuss the interesting contrast between consumers and governments, how consumers
are de-levering as governments continue to borrow and spend in order to stimulate
growth.
Download Oct commentary
July 2010
From Crisis To Response: Investing In A Time Of Reform & Regulation
We discuss today´s regulatory environment (the recent healthcare and financial
reform, plus the potential for tax and energy reform) as well as strategies for
managing through all the uncertainty.
Download July commentary
April 2010
You Can´t Rush Reality. We discuss the optimism that has
driven the market higher, the expansion of debt that is likely to make things challenging
going forward, and why a strategy of "singles and doubles" makes more
sense than swinging for the fence.
Download April commentary
October 2009
Fighting For Recovery On Multiple Fronts. We discuss the competing
forces of inflation and deflation, the unprecedented credit expansion of the past
25 years, and what to expect as the leverage bubble unwinds.
Download October Commentary
July 2009
2010 and Beyond: Flying Into Economic Headwinds. We discuss how
yesterday´s economic tailwinds are becoming today´s headwinds and how
focusing on income and managing volatility will continue to be critical going forward.
Download July Commentary
April 2009
First Quarter Overview: Good News? Or Merely Less Bad News? We
outline the details of the government stimulus and housing programs, their intentions,
and their implications for investors.
Download April Commentary
January 2009
An Economic Overview: Implications for U.S. Investors of the World Economy and
Monetary Stimulus Efforts. We discuss how the financial landscape has
changed and how to design a road map of opportunities for the future.
Download January Commentary
Market Commentaries
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October 2010
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April 2010
October 2009
July 2009