Friday, September 22, 2017

A win for U.S. solar manufacturers, a loss for U.S. consumers!!

One step closer to a win for U.S. solar manufacturers, one step closer to a loss for U.S. consumers, and, ironically, the industry itself:   emphasis mine...

Cat shows global growth accelerating...

One of our favorite under-the-radar global economic indicators is Caterpillar's global sales. Cat's global sway, and the cyclical nature of its business, makes its sales results a true harbinger of global economic activity.

Chart of the Day: No worries about sentiment...

As we've been reporting herein, the macro economic setup supports the notion that the present bull market has more to run.

Thursday, September 21, 2017

This Week's Message: The Fed, the Military, and the Housing Market

In this week's message we're going to jump around a bit.

For starters, I received inquiries pre and post yesterday's Fed announcement. Here was my response to a client who asked about how I saw the Fed meeting playing out and how it would impact gold and stocks specifically:

Wednesday, September 20, 2017

Tech Volatility to Ignore, and Some to Respect...

The following essentially serves as a good example of market myopia. I.e., how short-term trading can shake up stock prices and, alas, have an unsuspecting long-term investor wondering or, worse yet, acting.

Tuesday, September 19, 2017

Things Don't Always Work Out the Way They Ought To!

Remember back when the Fed started creating money like mad and sending it by the billions to the banks, in return for their holdings in treasury bonds and mortgage backed securities? For many legitimate analysts and too many illegitimate fear-mongers/gold purveyors this was a phenomenon that was certain to bring on rampant inflation and mass financial destruction. After all, the production of "paper money" at a pace far exceeding the production of goods and services had to push the prices of goods and services to the moon, right?

Monday, September 18, 2017

Sector Positioning

It's our intent here at PWA, and the primary purpose of this blog, to (between portfolio review meetings) keep our clients abreast of the thinking behind their portfolio allocations. With that in mind, here's a snip from an internal record which shows year-to-date returns by sector, our present target exposures, adjustments we've made within the past year or so, and our view of some of the prevailing and potential key themes that are most likely to either support or diminish the prospects for each going forward.