Hope Is Back In The Air, But The Devil Is In The Details image

Hope Is Back In The Air, But The Devil Is In The Details

Eight days ago, the stock market looked to be in trouble. The S&P 500 had closed at a "lower low" on the daily chart, the weekly chart was in a downtrend, and the bears were busy telling anyone that would listen it was their time to shine. Pundits were busy pointing out the downside p…
How To Build Modern Portfolios: Putting It All Together image

How To Build Modern Portfolios: Putting It All Together

While we wait on the Trump administration's proposal for reforming the tax code - a proposal that is likely to include a dramatic reduction in corporate tax rates - we might as well continue the discussion on how to build what I call "modern portfolio diversification" into portfolios.…
Merci à Nos Amis en France image

Merci à Nos Amis en France

The title of this morning's market missive is, "Merci à Nos Amis en France." Loosely translated, it means (and yes, I had to ask Google for some help here as I can barely order dinner in Chamonix without embarrassing myself!) "Thank You to Our Friends in France." By now, I'm …
Seeing Some Improvement, But... image

Seeing Some Improvement, But...

Good Monday morning and welcome back. Global markets appear to be in sigh of relief mode this morning in response to the preliminary round of the French election. Pro-growth, pro-EU, centrist candidate Emmanuel Macron emerged as the early leader as both of France's establishment parties w…
Quick Take: Hope Still in Play image

Quick Take: Hope Still in Play

In case there are any questions about what is moving the stock market, yesterday's rally should have cleared things up. Yes fans, expectations for the Trump Administration to effect changes to the tax code remains a primary driver of stock prices. With the market teetering on the …
How To Outperform - It Starts With... image

How To Outperform - It Starts With...

With the stock market waiting on both earnings and the economy to improve in order to justify current valuation levels, it would appear that traders are basically trying to decide which way to go from here. (IMO, a meaningful break below 2320 would embolden the bears while a move above 24…
Building Modern Portfolios - Three Ways To Generate Alpha image

Building Modern Portfolios - Three Ways To Generate Alpha

In case you missed the first two segments of this series, the topic at hand is how to go about developing portfolios designed to outperform in today's modern markets. More specifically, how does a manager attempt to provide outperformance in a world where trading is done at the speed of l…
Looking For The Reason image

Looking For The Reason

Long time readers know that when markets do something unexpected - such as breaking a 3-day losing streak with a surge of 184 Dow points - I need to know why. And while I haven't forgotten that I'm in the middle of a series on "how to outperform" when designing portfolios (with the next s…
Game On image

Game On

Good Monday morning and welcome back. First things first. If you haven't seen the new SowellManagement.com website, be sure to check it out. Kudos to Don Moenning for knocking this project out! Turning to the markets, ten…
While I Hate To Sound Like a Broken Record... image

While I Hate To Sound Like a Broken Record...

Good Monday morning and welcome back. While the bears contend that the market is ripe for a spill, so far at least, sideways appears to be the new down. For example, the S&P 500 has been moving sideways since mid-February and closed Friday just 1.68% off the March 1 all-time high. How…