House Democrats proposed sweeping changes to retirement accounts on Monday as part of a restructuring of the tax code designed to target the wealthy. Average investors are caught in the crosshairs.
(FORBES) Excess Cash In Your Portfolio Is An Option, But What Is That Option Worth?
Rich valuations, desire for liquidity, and fear of volatility are all reasons why investors sometimes want dry powder. But how can we quantify the cost of sitting on excess cash?
(FORBES) No End In Sight For The COVID-Led Global Supply Chain Disruption
Problems persist in the global supply chain, and they may get worse before they get better.
(FORBES) Did The Fed Policy Shift Destroy The Reflation Trade?
Last week, the Fed surprised the market with a shift in policy, vowing to act early to arrest inflation. Naturally, this hurt trades based on the reflation narrative. Are they still worth holding, or is it time to bail? I cover some of the issues in my latest article on Forbes. Click here to read …
Continue reading “Did The Fed Policy Shift Destroy The Reflation Trade?”
(FORBES) (Published Works) The Treasury Bond Market Is Getting Destroyed. Is It Time To Buy?
Treasury bond yields surged to a new post-pandemic high last week, extending the bear market that began in August of last year. When will it end? Please click here to read the entire article on Forbes.
(FORBES) Bond Market Crowded Trades May Lead To Post-Election Surprise Move
Speculative shorts in bond futures are at extreme levels. The crowd may be right, but if there is not a Democratic sweep in the election, the short covering could be equally extreme. Click here to read the entire article on Forbes.
(FORBES) Beware Of The Hidden Costs In Commodity Investing
Over the last few months, gold has made a new all-time high, oil appears to have bottomed, and a restart of the global economy could lead to a more robust demand for industrial metals like copper. Commodities often do better when investors experience or anticipate rising inflation. It may indeed be time to own commodities, …
Continue reading “Beware Of The Hidden Costs In Commodity Investing”
(FORBES) Profits From Fed Balance Sheet Expansion Could Top $140 Billion
Assistance provided by the Federal Reserve does not come for free. Every program that is part of the balance sheet expansion earns a spread. Like all depository institutions, the spread is the difference between where it borrows money and where it lends. With its aggressive balance sheet expansion and interest rates pinned near zero for …
Continue reading “Profits From Fed Balance Sheet Expansion Could Top $140 Billion”
(FORBES) Three Moves You Can Still Make If You Went Into The Crisis Fully Invested
Many people entered 2020 fully-invested in their investment portfolios. Fully invested does not necessarily mean 100% allocated to stocks. It means that you had an asset allocation mix that did not leave you with more than 5-10% cash. But fear not; you don’t need to be sitting on a pile of cash to take advantage …
Continue reading “Three Moves You Can Still Make If You Went Into The Crisis Fully Invested”
(FORBES) My Financial Advisor Wants Me To Do What?
Conversations between financial advisors and their clients are going to get more difficult in the coming months. With bond yields collapsing around the world, it is harder and harder to justify their role in long-term portfolios focused on total return. I can imagine the conversation going something like this: Click here to read the entire …
Continue reading “My Financial Advisor Wants Me To Do What?”
