While we look at the many economic data points that come out each month for clues as to the overall picture much like a person assembling a puzzle, it is clear that the fundamental and technical pictures are out of synch with each other.
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Opportunities Across the Asset Class Spectrum
The U.S. consumer is currently fully involved in a balance sheet recession. A balance sheet recession occurs after the bursting of asset bubbles leaves the consumer with more liabilities than assets. With the private sector deleveraging, even at zero interest rates newly generated savings and debt repayments enter the banking system but cannot leave the [...]
Investment Trends 2010 and Beyond
A Testament to the Need for Tactical Asset Allocation In his 2010 investment outlook, entitled “Let’s Get Fisical” famed investor Bill Gross concludes that if governmental stimulus exit strategies proceed as planned “all U.S. and U.K. asset markets may suffer from the absence of the nearly $2 Trillion of government checks written in 2009. It [...]