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RESULTS: SORT BY: RELEVANCE | DATE
  • Economic Update

    First Quarter 2018 Market Commentary: "Protectionists Hide in your Wallet"

    It is often fun (at least for us) to go back and re-read some of our prior quarterly missives. One of our favorites from a couple of years ago was about “Andrew Jackson” and the parallels of his presidential bid in the late 1820’s to the then impending election...

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  • Economic Update

    Fourth Quarter 2017 Market Commentary: "Fads, Bubbles, and Mania!"

    As we approached the holiday season (which seems to start even before Thanksgiving now), I did a quick survey around the office to confirm what I already expected, there were no must-have, stand-in-line, drive hours to buy toys in play this holiday season.

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  • Economic Update

    Third Quarter 2017 Market Commentary: "The Next Correction"

    So, when is the next market correction coming? It is probably the single most asked question from clients over the past year. There has not been a ten percent drop in the markets (the common definition of a correction) since early 2016.

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  • Economic Update

    Second Quarter 2017 Market Commentary: "Supply and Demand"

    We do not often write about technical concepts in our quarterly commentary. Besides being dry, they rarely provoke the type of engagement that personal stories, references to history, or even the ruminations of market wizards often do.

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  • Economic Update

    First Quarter 2017 Market Update: "Patience Pays"

    Spring is my favorite time of year here in Washington, DC. The weather begins to warm (bringing pleasant memories of spring and summer months long passed), plants and flowers return (especially the cherry blossoms), the grill is awakened from its winter hibernation, baseball begins, and Warren Buffet’s annual letter to Berkshire Hathaway shareholders arrives in the mail.

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  • Economic Update

    Fourth Quarter 2016 Market Update: "Choose Your Own Misadventure"

    Happy New Year everyone! Part of our early January ritual is to read a number of market and economic projections for the upcoming year. And although they are interesting and (generally) thoughtful, to be frank, the articles are basically all the same. For 2017, the common themes are inflation and higher interest rates, lower taxes in the US, global growth (albeit minimal), a renewed interest in fiscal as compared to monetary policy, and political (or of late, tweet) risk.

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  • Economic Update

    Third Quarter 2016 Market Update: "Has It Been Four Years Already?"

    Although I have lived just outside of Washington, DC for over twenty-five years now, I have never been a huge fan of politics (which is blasphemy around here). Politicians can have a positive impact on our lives, and even be transformational on occasion, but too often they are a bit manipulative, disingenuous, divisive, and hypocritical (I apologize for the early negative tone of this quarter’s musings, but I am writing this after just watching the latest presidential debate).

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  • Economic Update

    Second Quarter 2016 Market Update: "So What Happens Nexit?"

    In a referendum held in late June, after over 40 years in the European Union (EU) and its predecessor organization, the European Economic Community (EEC), the voters of the United Kingdom (UK) surprisingly decided to exit. This Brexit (“British exit”) decision roiled global markets (stocks around the globe dropped 5%-10% while “safe” assets such as bonds and gold strengthened) and caused the British pound to fall to its lowest level in decades.

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  • Economic Update

    First Quarter 2016 Market Commentary: "Election Year Politics and Markets"

    It is an election year, and we are in for a rowdy combination of mudslinging, anti-establishment rhetoric, rebellion of the “common folk”, economic protectionism, xenophobia, insults directed at spouses, attacks on the authority of the central bank, chirps of “morally unfit for office”, weak grasp of domestic and/or foreign policy, accusations of mishandling of government position, nepotism, calls for the re-distribution of wealth, and attacks on the financial elite.

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