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To Be Equity-Lite or Equity-Heavy?

To Be Equity-Lite or Equity-Heavy?

During the first quarter, we experienced the fastest ever 35% decline from an all-time high in US equity market prices. The subsequent remarkable recovery rally regained most of the lost ground in barely a month and a half. Commentators are currently marveling about the disconnect between aggressively rising stock prices and the weakest economic data [...]

Jun 16, 2020

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by: Tom Feeney

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Tags: bear market, bull markets, COVID-19 stock market, equities, equity investing, equity prices, Federal Reserve, investing strategies, S&P 500, stock market, stock market rally, stock market risk, stock valuations, stocks, Wall Street

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Categories: Investment Thinking, Markets & Economy, Stock & Bond Markets

Is April’s Rally A Forecast?

Is April’s Rally A Forecast?

As the month of April closed last week, Wall Street celebrated the S&P 500’s powerful 12.7% advance, the strongest monthly gain in 33 years. Whether that success points to continued gains in the short run, however, is open to question. Looking back, two even more profitable months saw slightly varied outcomes. The most profitable month, [...]

May 05, 2020

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by: Tom Feeney

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Tags: bear market, bull markets, coronavirus pandemic, COVID-19, COVID-19 stock market, S&P 500, stock market, stock market rally, Wall Street

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Categories: Investment Thinking, Markets & Economy, Stock & Bond Markets

Relevant News

Relevant News

Two articles from The Wall Street Journal weekend edition struck me as particularly helpful to readers seeking insight into prospects for the pandemic, the economy and the investment markets. Relative to the coronavirus pandemic and its potential effect on the economy, let the authors Louise Radnofsky and Ben Cohen speak for themselves: There has always [...]

Apr 20, 2020

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by: Tom Feeney

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Tags: coronavirus pandemic, economic insights, economy, epidemics, pandemic, pandemic consequences, recession, uncertainty

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Categories: Economics, Investment Thinking, Markets & Economy

2020 1st Quarter Market Commentary

2020 1st Quarter Market Commentary

In just under two months, stock prices worldwide have plummeted from historic highs to bear market lows and have rocketed part way back up again. The coronavirus has infected nearly 2 million people, killing over 100,000, and shut down vast swaths of the world economy. In less than one month, our way of life has [...]

Apr 14, 2020

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by: Tom Feeney

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Tags: bear market, commentary, coronavirus pandemic, COVID-19, debt, Dow Jones, economy, equities, equity markets, Federal Reserve, financial crisis, interest rates, investments, market commentary, market valuation, market volatility, NYSE, recession, S&P 500, stock market, stock prices, stock valuations, stocks, volatility, Wall Street, world economy

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Categories: Markets & Economy, Quarterly Commentary, Stock & Bond Markets

2020 1st Quarter Cash Management Commentary

2020 1st Quarter Cash Management Commentary

In our January Commentary, we noted that the Fed had dropped short-term interest rates in late-2019 in three distinct quarter point increments to the year-end level of 1.50-1.75%. As the coronavirus spread around the world in early-2020, the central bank cut interest rates on March 3 by half a percentage point, its biggest single cut [...]

Apr 14, 2020

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by: Tom Feeney

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Tags: cash investments, cash management, cash yields, CDs, Central Bank, commentary, debt, federal funds rate, inflation, interest rates, investments, market commentary

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Categories: Investment Thinking, Markets & Economy, Quarterly Commentary

Equity Market Update 3/26/20

Equity Market Update 3/26/20

Readers of our reports over the past few years know that we have described the condition facing investors as a bet. Older market veterans who have lived through a number of market cycles would tend to bet on what has always ultimately played out-- that the equity markets would eventually revert to their historically normal [...]

Mar 26, 2020

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by: Tom Feeney

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Tags: Central Bank, commentary, debt, economy, equities, equity markets, Federal Reserve, inflation, interest rates, Investing, investment planning, investment strategy, investments, market commentary, market valuation, monetary policy, recession, S&P 500, stock market, stocks, volatility, Wall Street

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Categories: Investment Thinking, Markets & Economy, Stock & Bond Markets

Interim Market Commentary 3/19/20

Interim Market Commentary 3/19/20

In my 52 years in the investment industry, I have never seen anything like the stock market activity of the last month. From its Feb 12 all-time high, the Dow Jones Industrial Average declined by more than 35% (about 10,500 points) to its Wednesday low, just below 19,000. That significant decline was the fastest in [...]

Mar 20, 2020

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by: Tom Feeney

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Tags: Central Bank, commentary, debt, economy, equities, equity markets, Federal Reserve, inflation, interest rates, Investing, investment planning, investment strategy, investments, market commentary, market valuation, monetary policy, recession, S&P 500, stock market, stocks, volatility, Wall Street

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Categories: Investment Thinking, Markets & Economy, Stock & Bond Markets

Interim Cash Management Commentary 3/19/20

Interim Cash Management Commentary 3/19/20

On Sunday evening of this week, the markets experienced a brief dip into negative yields for the 3-month US Treasury bill. Once again on Wednesday, bills with maturities from four weeks to three months were slightly negative. In other words, investors were willing to pay the US Treasury to hold their money for the next [...]

Mar 20, 2020

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by: Tom Feeney

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Tags: cash, cash investments, cash yields, CDs, commentary, debt, inflation, interest rates, Investing, investment planning, investment strategy, investments, market commentary, money market funds, US Treasury

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Categories: Investment Thinking, Markets & Economy, Stock & Bond Markets

2019 4th Quarter Market Commentary

2019 4th Quarter Market Commentary

As we head into the decade of the twenties, welcome to the casino! You can double your money on red or black, or you can lose it all. Never in the lifetimes of people living today have speculators faced the alternative of investments so ripe with positive potential while simultaneously saturated with the risk of [...]

Jan 22, 2020

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by: Tom Feeney

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Tags: bonds, Central Bank, commentary, debt, economy, equities, equity markets, Federal Reserve, inflation, interest rates, Investing, investment planning, investment strategy, investments, market commentary, market valuation, monetary policy, recession, S&P 500, stock market, stocks, volatility, Wall Street

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Categories: Investment Thinking, Quarterly Commentary

2019 3rd Quarter Market Commentary

2019 3rd Quarter Market Commentary

Over the past year, the major factors affecting stock market movement—expectations of Federal Reserve policy and administration comments about the China trade dispute—have remained largely the same. What has changed is that market reactions are unfolding in an increasingly compressed time frame. At the long end of a three-year process of Fed interest rate “normalization”, [...]

Oct 22, 2019

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by: Tom Feeney

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Tags: bonds, Central Bank, commentary, debt, economy, equities, equity markets, Federal Reserve, interest rates, Investing, investment planning, investment strategy, investments, market commentary, market valuation, monetary policy, recession, S&P 500, stock market, stocks, volatility, Wall Street

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Categories: Investment Thinking, Quarterly Commentary

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