Gains from the bear market rally we experienced from mid-June through mid-August have now been fully wiped out and both the S&P 500 and the Nasdaq hit new lows after losing 9.34% and 10.38% respectively in the month of September. The Fear & Greed Index stood in extreme fear territory with a value of 18 when we published our June 2022 Mid-Month Update: Bear Market Playbook and it is now ...
In his 2015 book, The Courage to Act, former Fed Chair Ben Bernanke gave us glimpses of the inner workings of the Federal Reserve. The Fed’s decisions are data-driven and this data is collected from various sources including from each of the regional Feds. My key takeaway from the book was that the Fed is often behind the curve because they are relying on data that is often stale and they ...
Back in 2017 when Amazon announced the acquisition of premium grocery chain Whole Foods, it marked the end of the retail armageddon that saw the stocks of most retail companies decimated at the altar of e-commerce. I was long Whole Foods before the acquisition was announced and saw the acquisition as a “canary in the coal mine” moment that signaled the market that the way forward was omni-channel retail. While ...
The seeds of the energy crisis we find ourselves in was planted during the depths of the last energy cycle from 2016 to 2019 when frackers increased production significantly and the accompanying price drop in oil wiped out many of them. A drop in investment thanks to a focus on… Please check out the full newsletter from the attached PDF.
The relief rally we saw last week gave investors a breather after unrelenting selling pushed the S&P 500 into bear market territory with a peak to trough drop of just over 20%. The selling that began with a specific segment of technology stocks had… Please check out the full newsletter from the attached PDF.
In early 2020 faced with a global pandemic and an unemployment rate that was literally off the charts, we kicked the can down the road with a combination of massive stimulus and quantitative easing. Those chickens have come home to roost and we are seeing … Please check out the full newsletter from the attached PDF.
The macro environment continued to remain uncertain last month with inflation remaining stubbornly high, new strains of COVID-19triggering lockdowns in China and… Please check out the full newsletter from the attached PDF.
Markets usually climb a wall of worry and there have been periods of geopolitical tensions over the last several decades that have done little to… Please check out the full newsletter from the attached PDF.
Finding good opportunities had become increasingly difficult during the second half of 2021 and we had to focus on strategies like merger arbitrage, fracking companies like Diamondback Energy (FANG) and… Please check out the full newsletter from the attached PDF.
2021 was a year of resilience where folks across the world fought successive waves of the pandemic, including a particularly challenging variant in late spring and summer. While we are not out of the woods yet, the general consensus appears to be… Please check out the full newsletter from the attached PDF.