August 2018 Market Letter

This letter will serve as a bit of a departure from most of my missives since I won’t be opining about politics at all. Frankly, there was so much in the way of political news flow this month that I wouldn’t know where to begin or end. Let’s simply suffice it to say that we live in very interesting times.

Besides, the markets had their own massive headlines in July. The proverbial dog days of summer are generally a bit slow on Wall Street since many traders take elongated vacations during this time. However, this month had plenty going on – some of it quite good, some not so much,…

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July 2018 Market Letter

“Oh the times, they are a changing”

Bob Dylan wrote this poignant and prescient song in 1964. It predated the tumultuous end of the 60’s decade and the early 70’s, at least through the impeachment of President Nixon. I’ve stated many times in these missives that conditions today in America are eerily similar to fifty plus years ago, with the exception of the military draft. History has repeatedly shown us that for every trend, there is a counter-trend. The current Trump administration lies in stark contrast to the Obama years, as did that Presidency contrast with that of Bush II. I feel that there’s a more marked difference now, however,…

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June 2018 Market Letter

Apologies for the tardiness of this missive… we’re in the midst of doing some serious integration with W3 systems. We’ve changed our CRM software, which doesn’t mean much to you, but it’s tedious for us. We’re also in the midst of planning and creating a new website which will be a combination of the firms. Normally, summer is a slack period following the joys of tax season, but not this year.

To say the least, May was a crazy month in plenty of other areas. President Trump’s summit with Kim Jung Un was on, then off, now back on again. The Russian investigation inexorably moves ahead, and so does the…

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May 2018 Market Letter

“Should feel happy… should feel glad… I’m alive and it can’t be bad… But back on Planet Earth they shatter the illusion… The world’s going round in a state of confusion…. I’m in a state… state of confusion… it’s a state… state of confusion…”

The legendary Ray Davies of the Kinks wrote “State of Confusion” in 1983. Thirty-five years later, the lyrics are marvelously appropriate for where we stand. Just look at some of the news highlights from the past couple weeks:

1) Kim Jung Un of North Korea and President Moon of South Korea appear like star-crossed lovers as they proclaim potential denuclearization and the end of their multi-decade conflict.

2)…

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