Well, we can all exhale now. Last week’s inauguration, while not without drama, passed without any of the nightmare scenarios propagated online and in the media since the Capitol insurrection on January 6th. We are not naïve enough to bel [...]

Well…there are a few things going on this week, huh? This is one of those times when world events will certainly take center stage and the numbers – what really drives the market over the long-term – takes a bit of a backseat. It seems li [...]

We had a plan for this week’s memo. We sent our talented analyst – Bryson Hamilton – hunting for good data to help explain our expectations for the economy in 2021. It was going to be a “facts and figures” memo. We will still get there – [...]

It is likely that, like us, you have thought about your New Year’s resolutions for 2021. The new year is a special time in that regard.  It gives us a chance to sit back, reflect on what has happened, and plan for the future. Whatever tho [...]

There was a time, not too long ago, when these memos came quarterly instead of weekly. And traditionally we put a lot of effort into our “Year-End Wrap-Up”. One year, which we believed was a particularly eventful year, we used the memo to [...]

We have said it before and we will say it many, many more times. Washington and Wall Street are inextricably linked. It is one of the more frustrating parts of the job. At times, we feel like this memo becomes more about political analysi [...]

Over the years, we have learned that this industry is very cyclical. Certainly, we mean cyclical in the big picture way of swings in market and economic success. But also cyclical in activity. For example, we always know the month before [...]