Archives by Month:
- December 2024
- November 2024
- October 2024
- September 2024
- August 2024
- July 2024
- June 2024
- May 2024
- April 2024
- March 2024
- January 2024
- December 2023
- November 2023
- October 2023
- August 2023
- July 2023
- June 2023
- May 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
- September 2016
- July 2016
- June 2016
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- August 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- November 2012
- October 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- June 2009
- April 2009
- February 2009
- December 2008
- November 2008
- October 2008
- August 2008
- June 2008
- May 2008
Archives by Year:
Stocks Don’t Do Well Following Quiet Years Like 2017
End Of The Yield Curve Flattening Period Treats Stocks Well In continuation with our discussion about what the flattening yield curve means for stocks, the chart below shows the historical movements in the S&P 500 when the yield curve falls below 60 basis points. Firstly, you can see that the time it takes to invert […]
Q3 Real GDP Per Capita: 2.53% Versus The 3.30% Headline Real GDP
The Second Estimate for Q3 GDP came in at 3.3% (3.30% to two decimals), up from 3.1% in the Third Estimate of Q2 GDP. With a per-capita adjustment, the headline number is lower at 2.53% to two decimal points. Here is a chart of real GDP per capita growth since 1960. For this analysis, we’ve […]
Japanification Denial
Gross Domestic Product (GDP) was revised upward from a seasonally-adjusted annual growth rate of 2.945% to 3.243%. For the first time since the middle of 2014, GDP appears to have advanced (subject to further revisions) at a better than 3% rate for two consecutive quarters. That level of growth used to be commonplace, even something […]
Liquidity And Volatility – A Direct Linkage
Written by John Davi, Astoria Portfolio Advisors Are you surprised by VIX sub 10? You shouldn’t be. There is a direct linkage between liquidity and volatility as shown in the chart below. Source: Bloomberg, Astoria Portfolio Advisors LLC. This year, we have seen $2.2 trillion USD in central bank balance sheet expansion globally (approx. 15% of the aggregate balance sheet […]
Myth Busting: Stock Correlations And Active Investment Opportunities
Many investors, investment professionals, and pundits make comments regarding the relationship between stock correlations and opportunities for active stock pickers. For example, here is a recent example from the Financial Times: Correlation crash clears the way for stockpickers. The basic (albeit flawed) intuition behind the statement is that when correlations are low, the variation in returns […]
4 Stocks To Gain Even If OPEC Decides Against Deal Extension
The scheduled meeting of OPEC members with non-OPEC crude exporters for the third time in Vienna, Austria, is dominating the headlines. It should provide an answer to the million-dollar question — will oil continue to trade above $55 a barrel? The landmark production-cut accord, first signed in late 2016, helped oil cross the $50-a-barrel […]
Roku Enters Rare Air As Bullish Momentum Continues
The streaming platform Roku (ROKU) has been on quite a ride this month. After posting robust earnings on the 9th, volume levels were off the charts. It gapped higher the next day and has not looked back. Many traders were caught short as a massive squeeze vaulted the stock 250% in just four short days. […]
Express Scripts Sells Unit With Ties To Mallinckrodt’s Acthar
Mallinckrodt’s (MNK) Acthar is one of the country’s most-expensive drugs and Express Scripts (ESRX) has provided distribution muscle for the drug. That appears to be changing, however. Monday Express Scripts announced it was selling United BioSource, a unit tied to helping distribute Acthar: Express Scripts Holding Co. is trimming some of its ties to a […]
Is Another Distribution Cut Coming For Plains All American?
Last year, I reviewed the dividend safety of Plains All American Pipeline (NYSE: PAA). At the time, I gave the stock an F because it did not generate enough distributable cash flow (DCF) to cover its dividend. Last month, Plains All American slashed its dividend 45%. One of the important reasons I gave it an F was that the […]
