Narrow Stock Market, Again
Last year, we published two quarterly 网赌正规平台网址 papers noting the narrow performance of the U.S. stock market, and for good reason. 超过一半的S&标准普尔500指数为24点.2%的价格
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Our Annual Look into the Future
For all but a few prognosticators, 2023 was a humbling one. As we mentioned in last quarter’s 网赌正规平台网址, most economists entered 2023 predicting a recession. And stock market forecasters were
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我的衰退在哪里??
In the mid-2000s, author Daniel H. Wilson published “Where’s My Jetpack?,” a book for frustrated futurists in search of techno wonders promised long ago. Somewhat like Wilson, investors have spent
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Artificial Intelligence: Analysis from an Investment Perspective
During the first half of 2023, the S&标准普尔500指数回升16点.8% with nearly three-fourths of that performance coming from just ten companies.1 The dominating theme driving these lopsided returns
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The Narrow Stock Market: And the Trends That Got Us Here
Much has been written about the U.S. stock market’s narrow performance this year—and for good reason. At its most extreme, five months into the year, all of the S&P 500
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回归正常之路
I am often asked, “When will things return to normal?” Despite their daily routines returning to normal, investors continue to feel the aftershocks of the Covid-19 pandemic in the economy
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Thoughts on the Fallout from Silicon Valley Bank
最近几天, state banking authorities and the FDIC have closed three banks: Silvergate, 签名的银行, and Silicon Valley Bank (SVB). Both Silvergate and 签名的银行 held a niche in
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改进后的预期
Investors have been through a volatile multi-year stretch. The combination of a worldwide pandemic and erratic monetary policy led to 20% or greater declines for U.S. 三、股票价格
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When Good News Is Bad News
As this difficult year for investors moves ahead, a peculiar logic is taking hold over the markets: what is good is bad, 坏的就是好的. 在其他
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货币价值的上升
In our April 2021 edition of 网赌正规平台网址, I wrote that inflation would become the new worry for investors. With the consumer price index above 8% the past three months, that
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美联储正在发挥作用吗?
Will declining stock prices cause the Federal Reserve to alter its course? May 2022 During the last hiking cycle—a slow, deliberate cycle that began in December 2015—investors
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On the Probability of Recession
April 2022 Prior to each of the past six U.S. economic recessions, the yield on 2-year U.S. Treasury notes has risen above the yield on 10-year U.S. 财政部:债券发行商在
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Sorting Through the Headwinds
April 2022 The new year has delivered a sharp jump in volatility across stock, 债券, 大宗商品市场. Chart 1, for example, shows that daily price volatility for the
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War in Ukraine: Implications for the Economy and Markets
March 2022 Following Vladimir Putin’s decision to invade Ukraine, we have fielded many questions about potential spillover effects of the war on the global economy and on financial markets.
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Our Annual Look to the Future
January 2022 “Tomorrow belongs to those who can hear it coming.” —DAVID BOWIE We have made it our practice to begin each year with an update of our 10-year
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ESG Investing: What, Why, and Considerations for Successful Implementation
November 2021 Growing interest surrounding ESG investing, which stands for Environmental, 社会, 和治理, requires institutional investors to be aware of the challenges and considerations in successfully implementing ESG
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Where Have the Vigilantes Gone?
October 2021 “I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400岁棒球击球手. 但现在我想
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当波动很重要时
July 2021 Investing involves risks. One type of risk we all try to avoid is the permanent loss of money. But a more common risk faced by investors is temporary
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通货膨胀:新的担忧
April 2021 Investing is a never-ending struggle between worry and optimism. The past 14 months illustrated that better than any period in recent memory. Beginning with panicked selling set off
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Abnormal Economy, Abnormal Markets
October 2020 While still below January’s pre-pandemic level, the U.S. economy has made great progress since the lifting of lockdowns and restrictions. Yet today’s economy is far from normal and,
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经济开始复苏
July 2020 We’ll start with good news: the recession that began in February has already ended. That is not to say that the economy is back to where it was
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