Archive for May 2013

A Long Summer

As we said back on May 6th, the 2000 and 2007 tops were marked with a broad May-October period of price discovery.  With the current action of the market bouncing around between poor economic numbers/more Fed and good economic numbers/less…Continue Reading →

Do the Math

Grant Williams Do the Math Presentation to the 66th Annual CFA Conference in Singapore

Ben’s Hands are Tied

The force of underlying deflation is waiting, waiting for something big to happen. Abenomics in Japan is just a little temporary respite.  The Fed cannot stop QE infinity until inflation becomes rampant as their employment triggers are not possible.  Sadly, bubbles…Continue Reading →

Special Comment

                   Current Macro View         May 14, 2013 The first QE made sense, it allowed capital time to adjust to a new reality. QE-2, QE-3, and QE-Infinity, basically attempts to take the economy back to where it was in 2007, made…Continue Reading →