Mid-Year Summary

Despite a surprise slowdown of US economic growth in the first quarter, the stock market has continued to climb higher. The S&P 500 is up by over 7% year-to-date. US equity REITs have been especially strong, already returning more than 17% so far in 2014. Meanwhile, the benchmark 10 year US Treasury yield has fallen … Continue reading Mid-Year Summary

The Best Policy

Last week JP Morgan stunned the world by announcing that it suffered over $2 billion in losses from derivative trades gone awry.  Ironically, JPMorgan was considered to be one of Wall Street's more responsible banks - one that avoided the derivative disasters of the financial crisis. Even more ironic, JP Morgan's CEO, Jamie Dimon, has been one of the most outspoken bankers fighting against increased regulation of financial services.  Unfortunately … Continue reading The Best Policy