One of the most frequent refrains I have heard over the past year is, “I have to buy stocks. There is just no yield anywhere else.” This train of thought has driven investment flows in …
Continue readingAbnormal Returns
What if I had a crystal ball, and told you the following: S&P 500 earnings results are going to be exactly unchanged from their current level over the next 18 months. Where do you think …
Continue readingIt took less than an hour for the market’s focus yesterday on the Fed press release at 12:30 to shift back to concerns about Europe, as rumors surfaced that Merkel had agreed to ESM bond …
Continue readingFor years now, I’ve heard the debate continue about whether low bond yields are good for the stock market (since stocks’ dividend yields become a more attractive alternative) or in fact bad for the stock …
Continue reading