Winter 2020/21 Investment Note

Winter 2020/21 Investment Note

  Historic Multifarious Crises ​ 2020 was an historic year. The United States and the world faced four substantial crises simultaneously. We began the year in a political crisis with a divided government, citizenry, and a President in the process of being...
Fall 2020 Investment Note

Fall 2020 Investment Note

  First Responders ​ In any emergency, the speed and effectiveness of the response is crucial to the outcome. Governments around the world responded in various ways to the outbreak of COVID-19, the first global pandemic (GP) in a century. The effectiveness of...
Spring 2020 Investment Note

Spring 2020 Investment Note

The Year of the Virus ​ The economic focus in early January was on the trade deal between the US and China and what the next step in US-Global trade policy might look like. Most economists were forecasting steady but slowing global economic growth as the Federal...
Fall 2019 Investment Letter

Fall 2019 Investment Letter

Global Deceleration and Trade ​ The International Monetary Fund (IMF) and the Organization for Economic Co-operation and Development (OECD) both regularly publish widely followed economic forecasts for global and country-specific economic growth. Both of their...
Summer 2019 Investment Letter

Summer 2019 Investment Letter

Ongoing Concerns ​ The two main factors driving the stock market in the last nine months have been concerns over monetary policy and the trade conflict between the U.S. and China. Just as we released our winter note, in February, the Fed had signaled that they would...