Fasten Your Seat Belt, Turbulence Ahead

Written by Michael Lebowitz | Mar, 21, 2018

U.S. Treasury securities across the maturity spectrum are reaching yield resistance levels that have proven for decades to be extremely valuable to investors engaged in technical analysis. We believe it…

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Written by Michael Lebowitz | Mar, 14, 2018

“Stability breeds instability.” – Hyman Minsky The answer to the title of this article, the polite version of which is “Buy The Dip or Sell The Rally”, may well be…

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March Madness For Investors

Written by Michael Lebowitz | Mar, 13, 2018

Outcome versus Process Strategies It is that time of year when the markets play second fiddle to debates about which twelve seed could be this year’s Cinderella in the NCAA…

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Trump’s Volley – Hoover’s Folly?

Written by Michael Lebowitz | Mar, 7, 2018

“You load sixteen tons, what do you get? Another day older and deeper in debt Saint Peter don’t you call me ’cause I can’t go I owe my soul to…

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Deficits Do Matter

Written by Michael Lebowitz | Feb, 21, 2018

The Federal Reserve (Fed) has increased the Fed Funds rate by 125 basis points or 1.25% since 2015, which had little effect on bonds until recently. Of late, however, yields…

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Strategies for Tomorrow

Written by Michael Lebowitz | Feb, 14, 2018

Most investors, knowingly or not, rely on long-only, passive strategies. They may shift holdings between stocks, bonds, and cash at various intervals, but generally, their portfolio returns mimic those of…

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Will The “Real” Real GDP Please Stand Up?

Written by Michael Lebowitz | Feb, 9, 2018

Last Friday, Gross Domestic Product (GDP or the domestic economic growth rate) for the fourth quarter of 2017 was released. Despite being 0.3% short of expectations at 2.6% annual growth,…

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Peak Hubris

Written by Michael Lebowitz | Feb, 7, 2018

In the past month, two well-known and highly respected money managers have made confident assertions about the markets. Their comments would lead one to believe that the future path of…

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