(Almost) All Assets up in the First Half

Despite a volatile second quarter, risk assets (actually all assets with the exception of commodities) performed quite well in the first hal...

Financial vs. Capital Expenditures and Equities

Yesterday, I made a bullish case for equities over the long run (especially when compared to bonds), today I will outline one of the reason...

Valuation Matters.... Equity vs Bonds Edition

I've shown that valuation matters numerous times over the years when it comes to long-term equity returns (see here , here , and here f...

What Happened to the Great Bond Sell-Off?

It's amazing that it was only a bit more than two months ago that I wrote this post defending bonds against what was labeled the "...

(U.S.) Relative Strength

Despite the recent turmoil, unlike when I showed this chart last August (a time when the dollar was selling off and gold / commodities were...

April ETF Performance Recap

In a month where market pundits made it seem like we were experiencing a sell-off we have never seen before, markets were only slightly in r...

"Risk On" in Q1

Source: Bespoke

YTD Performance

The WSJ details: Treasury and gold investors were rocked out of their recent torpor on Wednesday as a series of large trades in the futures...