Gold has rallied to $1254 an ounce (on the spot market) from $1218 on December 2. The December 2 closing low was the lowest close for gold since it closed at $1201 on June 27, 2013. But I don’t think the recent rally is likely to run very far. It’s based on what is likely… Read More
Mr. Copper Explains Churn in This Market
by • July 10, 2014
If you want to understand why there’s so much short-term churn in this market, take a look at what’s going on with Mr. Copper right now. Copper is widely... Read More
Stocks Won\’t Be Enough
by • April 21, 2014
This post appeared originally on Forbes.com. Heard this one from your broker? “Sure, there are problems out there, but the real question is whether you think the market will... Read More
Elusive, Frustrating Turn in Gold Will Come
by • October 17, 2013
Gold and gold mining shares spent most of the third quarter backing and filling without establishing any clear direction. Gold increased 7.6% during the quarter, closing at $1328.6/oz, but... Read More
After the Deal, Time to Worry About Earnings
by • October 17, 2013
Back to normal. The United States won’t default. The federal government is open again—including the Panda cam at the National Zoo. And once again earnings count. Which at least... Read More
Old McDonald Had A … Good Investment
by • September 14, 2013
This post appeared originally on Forbes.com. You’ve heard it a million times: invest in real estate because “they’re not making any more of it.” Often, that’s less than true.... Read More
Is the Fed Projecting or Pretending on Rates?
by • September 18, 2013
Let’s go back to some Fed “projection” analysis we did on August 19th Tomorrow we will get some new Fed projections. Suddenly people care. Below is the work we... Read More
Could Verizon Bond Mark a Temporary Peak?
by • September 12, 2013
Can you hear me now? Yesterday Verizon priced $51 billion worth of bonds at $49 billion. Technically they sold $49 billion of bonds at $49 billion that then traded... Read More
Is a 3% Yield the Turning Point for the Treasury Market?
by • September 5, 2013
How Much Has the Fed Lost? We spent much of yesterday looking at the potential for 3% on the 10-year Treasury and the Fed’s treasury position. For those of... Read More
Stocks Won’t Be Enough
by • August 19, 2013
This post appeared originally on Forbes.com. Heard this one from your broker? “Sure, there are problems out there, but the real question is whether you think the market will... Read More
Holding Bonds To Balance Stocks? There Are Better Ways
by • July 8, 2013
This post originally appeared on Forbes.com. Before you dump bonds, remember why you have them.” So says the mainstream financial press, echoing countless advisors. Their big point is that... Read More