Friends Despite an early morning appearance on CNBC by famed Hedge Fund Manager Ray Dalio in which he brought a significant helping of gloom and doom, markets did seem to find a little footing today. Now, the volatility was still amazing, but there appeared to be...
Friends Some legendary investors grabbed the headlines today. Bill Ackman tweeted this morning and then appeared on CNBC at lunchtime begging the President to shut down the country for 30 days. He’s concerned that governments just aren’t doing enough. Interestingly,...
Friends As more and more cancellations and shut downs occur, there were some positive developments today. First, the Federal Reserve continues to fight this battle on the front lines, today adding support to the commercial paper market by opening a funding facility to...
Friends Sure, there is plenty of bad news, with all the business closings etc., but for a moment let's see if we can find something good to take from today's proceedings. First of all, the President's press conference this afternoon was encouraging. We have some great...
Friends Not surprisingly, given the news we got over the weekend on the medical front, stocks gave up Friday’s gains at the open this morning. As we mentioned last evening, the Fed has stepped up to provide liquidity and we expect a massive fiscal response this week....
Friends This afternoon, the Federal Reserve took action by lowering the Fed Funds rate to a range of 0%-.25%. Even more importantly, the Fed announced that they would buy up to $500 billion of Treasury Securities and up to $200 billion Mortgage Backed Securities. Now,...
Friends Stocks rallied fiercely this afternoon after President Trump declared a national emergency and announced other measures that show that the federal government appears to be “all-in” in the fight against Covid-19. We already know that the Federal Reserve will be...
Friends There are some positive developments this morning with regards to government and central bank responses to the potential economic damage from COVID-19. First, on the fiscal side, Secretary Mnuchin indicated this morning that we are only in the 2nd inning of...
Friends After the update that we sent this morning we did get news that the Fed is stepping up to provide liquidity in the treasury markets, and that did cause a very short lived rally in stocks. I say rally, but we simply went from being down more than 9% to being...
Friends President Trump’s address to the American people did little to calm the nerves of investors. In fact, it appeared to make it worse as just after he began to speak, stock futures plummeted. As we begin trading today, stocks are once again under immense selling...
Friends Today surely felt like a day where fear met reality, and stocks basically were overwhelmed by headlines. The WHO finally declared that the world was experiencing a pandemic with regards to Covid-19. Cancellation of sporting events, concerts, rodeos, and...
Friends Did we mention that there might be some volatility in the markets for a while? Today's price action in stocks was once again breathtaking. A nearly 1000 point Dow gain in early trading was totally erased by midday. Then once again in the afternoon stock prices...
Friends Does this maniacal market action make us nervous? Of course, it does. We’re human too. It’s always stressful when you are dealing with the unknown, and things you can’t control. So, to that end, it is much more productive to deal with things that you know and...
Friends With markets in turmoil over the Covid-19 virus, we are going to try to keep you up to date as important things occur. We’ll send out alerts as news warrants to attempt to keep you informed during this time of stress. Overnight things deteriorated as oil...
Friends What a week! I know no one cares about economic data at this point (and it is somewhat looking in the rearview mirror), but today’s jobs number was fantastic. 273,000 new jobs were created in February, which is much more than expected. The unemployment rate...
