Jerome Powell wants everyone to know that he's read Paul Volcker's autobiography, "Keeping At It". He has used this phrase repeatedly since Jackson Hole, apparently believing that he needs to channel Mr. Volcker's gruff demeanor in order to get markets to do what he thinks they should do. He and others on the FOMC were not pleased with the stock [...]
The stock market is a volatile, uncertain place right now. Alhambra CEO Joe Calhoun describes the Big Risks for S&P 500 investors and the future of passive investing.
Is the Fed Pushing Stocks down? Doug Terry, head of Alhambra Investment Research, answers the question.
Is the economy contracting? Alhambra's Steve Brennan poses that question to CEO Joe Calhoun.
Alhambra's CEO talks about last week’s disastrous market and the spike in interest rates, similar to what we saw in June, and the coming recession.
The S&P 500 fell 4.8% last week and is now down 19.4% year-to-date. Bonds were also down with yields up all across the yield curve. Gold was down 2.5% and the GSCI commodity index was down 2.3%. Rate-sensitive REITs were down nearly 6%. The list of what went up last week would be quicker: the dollar, platinum, silver, and some [...]
Alhambra CEO Joe Calhoun gives a refresher on nominal and real interest rates and what they're saying right now about the investor fear factor.
Nothing happened last week. Stocks and bonds and commodities continued to trade and move around in price but there was no news to which those movements could be attributed. The economic news was a trifle and what there was told us exactly nothing new about the economy. A report that wholesale inventories rose 0.6% cannot be turned into market moving [...]
Alhambra CEO Joe Calhoun compares the similarities between today's bear market and past ones, plus last week's data on the economy, employment, and whether the new data points to recession.
I stopped in a local antique shop over the weekend. The owner is retiring and trying to clear out as much as she can before they close the doors so I paid a mere $3 for the Life magazine above. I think it might be worth many multiples of that price for investors who think our situation today is somehow [...]
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