Portfolio Review 4Q 2024

Jerome Powell and the Federal Reserve took away the punch bowl just as the party was getting out of control. In a year in which most asset classes and markets appreciated, most are ending the year on a negative note, down for the final quarter of the year. With a new administration in Washington, the […]

Portfolio Review 3Q 2024

Just as the Federal Reserve finally initiated its rate cutting cycle, on the other side of the world Chinese authorities launched a multi-faceted stimulus program, sparking equity rallies in both markets as well as spurring gold and other commodities upwards. U.S. stocks and gold moved to yet new highs (until gold fell back on the […]

Portfolio Review 2Q 2024

The second quarter saw a pause in some of the new trends that I see in the markets: gold was essentially flat after China reported no purchases in May; some economic reports suggested a pick up in growth in the U.S.; global stocks markets slowed while many emerging markets were down, even as U.S. markets […]

Portfolio Review 1Q 2024

Something is changing in the markets. Gold has moved up reflecting concerns about the underlying economy and financial system, and foreshadowing potential problems. The economy, interest rates, inflation and equity markets will all turn, some up, some down. There is a seismic shift underway in the economic and investment world as central banks prepare to […]