Market Commentary | January 24, 2024

Present and Ready Last Thursday and Friday CPI and PPI reports were encouraging in demonstrating that inflation is moderating, but the battle against inflation continues. Inflation is our perpetual enemy because it erodes consumer purchasing power. Week to week we...

Market Commentary | December 19, 2023

Inflection Point The Federal Reserve’s December 12th press conference bore a pale resemblance to a declaration of victory in its battle against inflation and marked a pivotal point in monetary policy. Quickly ensued a parade of pundits predicting when and by how much...

Market Commentary | November 22, 2023

Pass the Dramamine In January, I will begin my 41st year as an investment advisor. That tenure should lend credence to my observation that interest rate volatility has never been more dizzying. At the end of October, as anxiety and fear of the Fed’s next move drove...

Market Commentary | October 19, 2023

Higher for Longer With the September 20th  release of the Federal Reserve’s statement we learned that they would pause in their inflation fighting, interest rate hiking campaign. Market relief didn’t last long as the conversation shifted focus to rates remaining “high...

Market Commentary | September 15, 2023

Sector Rotation Over the last year or so, our exposure to residential real estate investment has been very limited. It’s not that business hasn’t been very good for apartment owners; from the start of 2021 through 2022, rents on lease renewals routinely jumped 15 to...