Posts Tagged ‘fed policy’
Inmates Running the Asylum; Fed Policy 8-years into Recovery
Last week, a Fed Governor, made comments hitting Bloomberg, that the Fed was not a handmaiden to the markets. The comments, not part of a major speech, and difficult to find on Google, were striking, and provocative, conjuring memories of a period when this would never need to be said. Today’s baffling Fed communication strategy…
Read MoreISM sinks to post-2009 lows; Industrial Economy Recession a Catch 22 for Fed
November ISM sank to the lowest level since 2009. Stunning, that the ISM (Institute for Supply Chain Management) survey, formerly known as NAPM (National Association of Purchasing Managers), printed 48.6, the lowest level since the throes of the financial crisis. For perspective, the last time the ISM printed sub-48, in June 2009, the S&P was 900. Today,…
Read MoreQui n’avance pas, recule
We all eat at restaurants, go to stadiums, and walk down the street. The tragically successful terrorist attacks in Paris highlight the vulnerability of the human condition at any instant. While this has always been the case, and will continue to be so, civilization, and human progress, over past centuries and decades, reduces the chance…
Read MoreGlobal Growth Scare + High Valuations = Bear Market Dynamics
It’s been a difficult market since the dog days of summer. After 10-months of exceptionally low volatility, a fierce downdraft set in during mid-August. Lower stock prices, and volatility, will persist, simply because the conditions to go right back to the old dynamic aren’t in place. There isn’t enough global growth to support stock prices…
Read MorePrimark is Coming; US Specialty Apparel Sector Disrupted
Business models that don’t evolve are always threatened by disruption. The US specialty apparel sector is a fascinating case study in businesses, and brands, entrenched for long periods of time (decades), seemingly safe, but now facing imminent destruction. The concept of the shopping mall is dated; millennials have different habits than teens in the 80s…
Read MoreSnap, Crackle and Pop; Uninterrupted 18-month Bull Market!
Over the past 18-months, the S&P 500 surged 43%, without more than a 6% drawdown. That dear reader is a Bull market. This post is somewhat backward looking based on the writing hiatus at CF. The forward plan is for content at regular interviews from here. Where we stood: Entering June 2012, the market stood at…
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