It’s embarrassing to admit this but in our earnings season preview on April 12, when the consensus estimate reflected a nearly 24% increase, we wrote that S&P 500 Index earnings growth for t

U.S. and International Equities

This month provided another set of positive results for the U.S. major market indexes. The top performer was the Nasdaq, rebounding from la

“Sell in May and go away”¹ is probably the most widely cited stock market cliché in history. Every year a barrage of Wall Street commentaries, media stories, and investor questions

Incredibly, the COVID recession may have ended a year ago, but we still don’t have call from the National Bureau of Economic Research (NBER). That may when the first estimate of Q1 2021 gross do

President Biden’s 100th day in office is tomorrow, on April 29. Hard to believe it has been 100 days already, but overall the economy continues to improve and stocks have done very well under ou

President Biden’s recently proposed $2 trillion infrastructure investment plan would, if enacted as-is—a big “if” for sure— provide much needed support to traditional inf

Last week we discussed whether stock prices might be reflecting peak optimism. In that commentary we noted that while sentiment may be overly optimistic and a pickup in volatility would be totally nor

“Don’t fight the Fed.” Old investment saying

One of the popular questions we’ve received lately is what do stocks do after the first rate hike? Let’s be clea

“Price is what you pay; value is what you get.” – Legendary value investor Ben Graham.

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Valuations matter—at least in the long run. We believe it to be true in

Global stock markets are off to a strong start in 2021 as the world begins to emerge from the shadow of the COVID-19 pandemic. In the United States, vaccinations are increasing, the economy is expandi