A Brief History of Debt

A Brief History of Debt (and Why it Matters) The last few weeks have looked a lot like 2022, which was the worst year for the 60/40 portfolio since 1937. I could write a book detailing the missteps of Congress and the Fed that have led us here, but there isn’t time for that, so […]
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Sugar High? | July 30, 2022

Sugar High? The stock market rallied as the Fed said we have reached the neutral rate. Markets are already anticipating a reversal of rate increases as stocks and bonds rallied. It’s as if the recession has been cancelled, or maybe it’s over before we knew it was here. But the Fed emphasized that it is […]
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A Large Bubble in Search of a Large Pin | January 22, 2022

A Large Bubble in Search of a Large Pin We have been telling you for a long time that markets are expensive. This week, they got a little cheaper. Is it over? Yes and no. Markets don’t go down in straight lines and this market is very oversold on a short-term basis, so a rally […]
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It Gets Worse Before It Gets Better | January 15, 2022

It Gets Worse Before It Gets Better Sometimes Wall St. gets so involved in the details that it misses the forest for the trees. And then there are times when we are brought back to the simple basics and that happened this week in a webinar from DoubleLine Capital founder, Jeff Gundlach. Here is the […]
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