Big Picture

Let the Macros Work

This week I made a couple of short-term comments on the market that could tend to muddy the waters.  This is an important time in the market.  Unless congress and the administration can really get a significant stimulus package going,…Continue Reading →

We Rest our Case

Today’s GDP number reinforces the fact that increasing deficits and strong GDP go together.  Ronald Reagan learned this by accident in the great supply-side experiment that he unleashed in the 80’s.   The people of this country probably need to look…Continue Reading →

S&P 1132

In our post of October 29th 2008, 14 months ago,  we pointed to S&P 1132 as a potential macro objective.  Today we reached that area.  Our portfolios did not wait for this level as I let the disappointing Obama program turn…Continue Reading →