Keeping a close eye on Europe
There are times when we need to be willing to take a little pain to build positions that have great risk/reward characteristics. I believe this is one of those times. I felt the same way in the early...
View ArticleFive reasons why equities may move higher
The U.S. economy has serious secular issues, including high levels of consumer and public sector debt, which may take years to sort out. But that healing process does not preclude a cyclical rebound in...
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Why cheaper growth stocks appear poised for recovery
In 2011, for the second straight year, cheaper stocks in the growth universe underperformed. Historically, such weak periods for valuation have been followed by multi-year stretches of outperformance...
View ArticleWhat’s the reach of a European recession?
A recession developing in some areas of Europe can have an impact on the U.S. economy and corporate earnings.
View ArticleIn Europe’s shadow, U.S. fundamentals shine
One of the biggest macroeconomic factors moving markets has been the eurozone’s debt crisis. In addition to its potential impact on the domestic economy, the crisis also creates headwinds for U.S....
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Defensive stocks may yield to cyclicals
Defensive stocks have outperformed in 2012, but cyclical stocks may offer more attractive valuations and growth characteristics.
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The world offers a range of macro risks
We are monitoring a number of risks to equity prices. China, which had been an enormous driver of global growth, continues to struggle with a slowing economy. There have been some positive developments...
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