COMMENTARY

Relative Strength: A Shifting Global Landscape May 14, 2016

Each time we’ve updated our sector and geographic relative strength work over the past few years, the stories remained the same for the most …

Big Reversals April 1, 2016

Merely two months ago, the press (especially) and investors were hyperventilating about “the worst start to a year” in decades. The S&P 500 and …

Relative Strength Update March 11, 2016

Needless to say, it’s been a wild ride this quarter for investors here and abroad. With markets having round-tripped this quarter from the depths …

Growth Headwinds and the Debt Cycle February 27, 2016

The fourth quarter US GDP revision came in this morning with headlines blaring that the quarter-over-quarter annualized growth of 1% “exceeded expectations” because the …

Something Happened the Past Few Weeks that Hasn’t Happened Since March 2009 February 13, 2016

If you’ve read some of our market sentiment level posts in the past, you know we like to follow an indicator based upon the …

Fundamental Free Lunch Portfolio: Wheezing January 29, 2016

It’s been approximately a year since we’ve calculated and presented the up-to-date performance for our “Fundamental Free Lunch” portfolio. The original premise behind the …

Fun With Numbers: Normalized P/E Predictions January 22, 2016

We often talk about our preferred metric for measuring market valuation levels, the real 10-year normalized P/E ratio. In our version, we use 10-year …

Here We Go Again…Sentiment Edition January 15, 2016

Global markets had an August/September to remember, then a massive rebound back near the pre-correction highs, and now a return to the August/September blues.
We’ve …

Fun with Charts: January 8, 2016

Those out there that choose, against their better judgment, to read these regular posts know that we enjoy taking off-the-beaten-path pieces of data and …

Bring the Noise December 24, 2015

Since the late summer market swoon, recession talk and negative market chatter have increased in some circles despite the fact global equity markets have …