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This year about $85 billion of cuts to the discretionary portion of the US budget will be implemented, at least under current law which, as we know, could change. Dire consequences have been forecast. Could these forecasts come true? First … Continue reading
As we expected, the Dow finally broke through the upper end of a long term trading range and is making new highs. Now that we’re here, worry abounds. Even analysts who expected new highs in 2013 are calling for a … Continue reading
The stock market has been flirting with five year highs – but not breaking through to all time highs – for a week now. We are at an inflection point in the markets, for both stocks and bonds, and the … Continue reading
Occasionally, and always when things are going well, a client will ask us for a riskier portfolio, which usually means we are supposed to sell those good-for-nothing bonds and add more stocks. In other words, “risk up.” Our industry has … Continue reading
In one corner, we have a company that owns commercial real estate. It owns properties located all over the country, mostly stand-alone buildings with one or two tenants, many of them leased to banks. This company was thoroughly sideswiped in … Continue reading