“It’s Cloudy” Fatigue

Mike WilliamsEconomic Update, Market Review0 Comments

There have been times in the past where “crowd fatigue” was itself a drag on markets in the near-term.  It seems pretty clear to me we are jogging through a period just like that now. The combination of the feared earnings recession continuing, the interest rate hike media-mania and the election vitriol is more than enough to push anyone out of the … Read More

Hidden Improvements

Mike WilliamsEconomic Update, Market Review, Morning Minutes0 Comments

It would be easy to overlook that markets have stayed in a fairly thin band since breaking out to new highs in early July. Indeed, it has been over a month of trading days since the S&P 500 has seen a 1% move on a closing basis. To give some perspective, if you dozed off on 7/18/16 and woke up … Read More

Lost in the Haze?

Mike WilliamsBulls vs. Bears, Economic Update, Market Review0 Comments

The chop of August – as well as price setbacks for many of the year’s leaders to date – has all been pretty normal this summer for the run we have had. This week and next should end the hazy feeling we have been sifting through – capped off of course by the Jackson Hole speeches on Friday. That surely … Read More

Talking Heads?

Mike WilliamsEconomic Update, Hot Topics, Market Review0 Comments

It began with the usual fretting over “selling in May and going away.” It then ebbed into the Memorial Day kickoff to summer and meandered its way here – now, seeing the last few weeks of the thickest summer haze unfold. We made it through Brexit, several medium size “Black Swans” and now seem to be inching closer to yet … Read More

Simple Thoughts

Mike WilliamsEconomic Update, Insights, Market Review0 Comments

Simple: “easily understood or done; presenting no difficulty.” Synonyms: straightforward, easy, uncomplicated, uninvolved, effortless, painless, undemanding, elementary, child’s play. Complex: (mathematics) “denoting or involving numbers or quantities containing both a real and an imaginary part.” Imagine for a moment hearing the process of building your wealth over a long period of time described as “simple.” In the early 80’s when … Read More

Paradigm Shift(s)

Mike WilliamsEconomic Update, Insights, Market Review0 Comments

Paradigm Shift: “a fundamental change in approach or underlying assumptions.” This was required in the late 70’s / early 80’s to understand the upcoming move from a manufacturing and industrial driven past to a technology expanding future. The stage is set for it to be a requirement again. Just as it was “not clear” for many years in the 80’s … Read More

Wizard Behind the Curtain

Mike WilliamsEconomic Update, Market Review0 Comments

Markets continue to churn through earnings (see below). With the August doldrums dead ahead, that feeling of walking in quicksand may indeed be with us for the next several weeks as the summer ebbs into history. The swoon is out there somewhere right? On that note…Goldman sent out a pretty interesting piece yesterday. It hit all the major headlines and … Read More

Lighting the Fuse?

Mike WilliamsEconomic Update, Market Review0 Comments

One can feel the shudder in the crowd as the number prints across the screen in big letters: “GDP Missed Expectations” and boy did it – by a good clip. Ok, so there – it is out of the way. Gasp, numbers are smaller than the crowd of experts expected. Not really – but it sure sells press. As we … Read More

Half Way There

Mike WilliamsEconomic Update, Insights, Market Review0 Comments

Markets continued above breakout range even as the pause later last week saw volumes fall. This is likely more caused by the simple fact that it’s summer. Indeed while we are about halfway through it, recall that most of the investor crowd is not even present. Imagine that, the worst start to the year in 80+ years back in Jan/Feb … Read More

A Slow Jog

Mike WilliamsEconomic Update, Market Review0 Comments

Hope this note finds you all well and prepared for a relaxing summer weekend. Sadly, we must start yet another note a send of prayers to all those affected by the demented actions last evening in Nice. There are few words these days to make any sense of these events. So please be safe and travel carefully……. We all know … Read More