“Resistance is futile” was a sentence that struck fear in the hearts of Trekkie fans during “Star Trek: The Next Generation,” specifically in both of the “Best Of Worlds” and “First Contact” episodes. In those episodes, the “Starship Enterprise” crew encountered a species called the “Borg.” The Borg’s primary purpose was to achieve “perfection” by assimilating other beings […]
In investing, success is often judged by numbers—returns on investment, percentage gains, and the ability to outperform benchmarks like the S&P 500. However, some investors frequently pursue a peculiar set of “awards” without realizing the pitfalls they embody. These unspoken goals, while tempting, rarely lead to sustainable investment success. If there were awards for some of these […]
When your wealth grows, so does the complexity of your financial life. For high-net-worth individuals, tax planning is no longer just about filing accurately—it’s about strategically managing income, investments, and legacy plans to reduce taxable income and preserve wealth over the long term. From investment strategies and estate planning to charitable giving and tax-advantaged accounts, […]
Our recent article, Swaps and Basis Trades Warn Of Mounting Liquidity Problems, touched on negative interest rate swap spreads as an omen of potential liquidity problems. To stay on the topic of liquidity, we didn’t provide much detail about swaps. Nor did we discuss their importance to the financial system. Accordingly, we ended the discussion […]
Despite the recent rally, the correction continues. While wanting to “buy the dip” is tempting, the technical damage is enough to warrant remaining cautious in the near term. As we have discussed, managing risk requires discipline and the emotional ability to navigate more volatile markets until a more straightforward path for risk-taking emerges. The problem […]
Are you a “speculator” or an “investor”? This is an essential question that every individual deploying capital into the financial markets must answer. The reason is that how you answer that question determines how you should behave during market cycles. Over the last 15 years, due to repeated rounds of monetary and fiscal interventions, most investors […]
We have good and bad news for investors who want to know whether the stock market will soar, stall, or plummet. First, the good news. This article presents the market path for what lies ahead. Unfortunately, the “right” path is among three likely scenarios. Despite our inability to definitively show you the way forward, we […]
In financial markets, few technical patterns generate as much attention and anxiety as the death cross. This ominous-sounding term refers to a crossover on a price chart when a short-term moving average, most commonly the 50-day moving average (50-DMA), drops below a long-term moving average, usually the 200-day moving average (200-DMA). The “death cross” is a fantastic […]
Inflation risk has been a significant topic of discussion in the mainstream media for the last few years. Such is unsurprising given that inflation spiked following the pandemic in 2020 as consumer spending (demand) was shot into overdrive from stimulus payments and production (supply) was shuttered. To understand why that occurred, we need to revisit […]