by Ross Bowler | Apr 18, 2023 | Market Commentary
Purgatory at the Point of Inflection About a year ago, in our search for yield that was safe in a rising rate, inflationary environment, we identified a multi-billion-dollar pool of fixed-to-floating rate preferreds we could buy at meaningful discounts to par that...
by Dane Bowler | Mar 24, 2023 | Market Commentary
Silicon Valley Bank’s Collapse and Why it Brings Opportunity You have likely heard about last week’s sudden implosion of Silicon Valley Bank (SVB). We want to share our insights into what is happening and most importantly, what it may mean for you. Are your...
by Ross Bowler | Feb 22, 2023 | Market Commentary
Time Rewards Selectivity Before we started our seemingly endless commentary on runaway inflation, we talked a lot about our search for growth. We wanted to find growth within the pandemic. We wanted growth above inflation. We wanted to identify which companies can...
by Ross Bowler | Jan 13, 2023 | Market Commentary
The World Repriced Investors have removed their rose-colored glasses and now perceive the world through a glass, darkly. The overarching optimism that opened 2022 is all but gone. In 2022, the S&P 500 delivered a negative 18.1% total return, its worst annual...
by Ross Bowler | Dec 15, 2022 | Market Commentary
Is inflation dead? This morning the Labor Department reported November’s month-over-month core inflation of just 0.1%, far below the forecast rate of 0.4% and, annualized, below the Fed’s 2.0% target rate. The Fed is expected to hike rates by an additional 50 basis...
by Ross Bowler | Nov 17, 2022 | Market Commentary
Positioning for a return to normal Last Thursday, October’s CPI stormed in at 7.7% which would normally be cause for panic, but because the figure was lower than September’s, stocks soared and interest rates fell. On Tuesday PPI came in lower than estimates,...
