Industry Market Commentaries
Spin City
The December jobs report was recently released and politicians are falling all over themselves to spin positive or negative interpretations. As an investor or entrepreneur, it pays to look at these numbers in an objective way, as much as possible. As Mark Twain once said, "Get your facts first, and then you can distort them as much as you please." So here goes. The private economy... »»
U.S. Earnings Update
In this bulletin: U.S. Earnings Update, Market Strategist Joseph Tanious discusses the current earnings season and outlook for the equity markets. In particular, he will examine: record-setting earnings per share, earnings growth and surprises; financial stocks and the debt valuation adjustment; the reliability and accuracy of analyst consensus estimates; profit margins; and, expenses and opportunities in 2012. »»
From Denial to Despair (and Back?)
In this commentary, we offer our perspective on the longer-term backdrop for the events of recent weeks as well as the key elements of uncertainty ahead of us. First, we review the transformation of the role of government through the financial crisis from an overseer role to a backstop capacity not only for markets but also for the economy. This ever-increasing involvement factors into the current despair as investors are beginning to realize that one of the legs supporting the economic stool is about to be taken away, and to some degree might be unavailable in the future. »»
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