QUARTER REVIEW The fourth quarter capped what can only be described as a breath-taking year for the markets (and the world). The global equity market rose +15.15% in 2020, as measured by the MSCI ACWI. While that doesn't look outstanding by itself, keep it mind that was after clawing back a -34% decline from Q1 … Continue reading Tactical Allocation Update, Q4 2020
QUARTER REVIEW Global equity markets continued their ascend from their Q1 lows. As of September 30, the MSCI ACWI (global stock market) is +1.89% year-to-date. That doesn't sound like much, but that's after recovering the -36% peak-to-trough decline from Q1. From that perspective, this year has been nothing short of remarkable. Figure 1: Global Equity … Continue reading Tactical Allocation Update, Q3 2020
'Twas the eve before Christmas and not a Santa rally in sight. Year-to-date the S&P 500 is on the cusp of a bear market, closing down -19.78% from its all-time high of 2,930.75 in September. The sell-off began in October and has been swift and fierce, summoning flashbacks of the S&P 500's harrowing drawdown of … Continue reading Fear and Santa
There's been a lot of chatter about high-frequency-trading (HFT) -- here's a quick take on the topic for people scratching their heads. What is HFT anyway? Imagine a stock that's moving up in price due to strong buying demand. A HFT program recognizes the trend and executes thousands of sequential buy and sell orders within … Continue reading The HFT Game
Many people have been talking about how gold prices plummeted last year. With a 29% loss in 2013, gold recorded its worst annual price decline since 1981. Meanwhile, fewer people seem to notice how silver prices got destroyed -- down by more than 37%! Year to date gold prices rebounded about 6% whereas silver prices … Continue reading Silver Lining
