“We have two classes of forecasters. Those who don’t know – and those who don’t know they don’t know.” – John Kenneth Galbraith I have remarked in prior first-quarter newsletters that, somehow, this is about the only time of year when most people reflect on the past, ponder the present, and plan/predict the future. The [...]
Author: Troy Gayle, CFA, CAIA Click here to download a PDF of this article. It’s Groundhog Day, Again, and Again…. For those who remember the movie “Groundhog Day” starring Bill Murray the plot is when he wakes up every morning, it is Groundhog Day again and again. The world today bears a striking resemblance to [...]
Author: Troy Gayle, CFA, CAIA Chief Investment Officer Click here to download a PDF of this article “I may be drunk, Miss, but in the morning I will be sober and you will still be ugly.” -Winston Churchill The European summit concluded in Brussels today. The outcome was better than many expected and the markets [...]
Click here to download a PDF of this article Troy Gayle, CFA, CAIA Chief Investment Officer The Lesser of Two Evils? The United States and Europe continue to test the markets will by continuing to travel an already beaten down path of inaction. They share a parallel inability to offer a credible, long-term plan for [...]
The crisis in Europe rages on as we continue to see plan after plan come and go. As the crisis broadens, it has now forced the ouster of Greek and Italian prime ministers. The market is very deliberate in exploiting cracks in the foundation of capital markets. The past several months have been consumed with Greece and despite a proposed bailout, she appears destined to default and to ultimately exit the euro.
“It’s plain hokum. If you can’t convince ‘em, confuse ‘em. It’s an old political trick. But this time, it won’t work.” Harry S. Truman While this quote was in a different context when spoken in 1948, it rings the bell in 2011 with the confusion and unpredictability that continues to emerge from Greece. After securing [...]
