Kuby’s Commentary
Eric Kuby, Chief Investment Officer of North Star Investment Management, writes a weekly commentary on market and economic trends.
Here is a sampling of recent commentary:
Pre-Announced Bounce
Last Week “It’s good to be king, if just for a while To be there in velvet, yeah, to give 'em a smile It's good to get high and never come down It's good to be king of your own little town” -Tom Petty The stock market posted its best weekly advance since early...
The Fog Thickens
Last Week In our last commentary, we discussed the onset of the tariff fog. It is safe to say that the fog thickened dramatically, as the details unveiled were far denser than even the most draconian forecast. President Donald Trump's “Liberation Day" turned into...
Tariff Fog
Last Week Fog appears to be the new buzzword on Wall Street. One definition of Fog is “something that confuses or obscures.” A dense Tariff Fog has descended on the U.S. economy, resulting in dangerous driving for investors and business operators. The hazard lights...
Bounce Baby Bounce
Last Week As March Madness unfolds, we embrace the bounces and rebounds on the hardwood floors around the country, as well as those on Wall Street. The market snapped its four-week losing streak, rebounding from correction territory. The bounce off the correction was...
Déjà Vu Slump
Last Week In the words of Yogi Berra, “It’s deja vu all over again” as the market slumped to a four-week losing streak, and trade war and economic downturn concerns continued to unnerve investors. “I don’t like Mondays” was in fashion as trading kicked off with...
Like a Barracuda
Last Week The adage goes, “March comes in like a lamb and out like a lion.” For investors, March 2025 came in like a bear, or perhaps, as referenced in the 1977 Heart song, “like a barracuda.” “And if the real thing don't do the trick You better make up something...
Slump, Rather Than Bump
Last Week Despite a decent bounce on Friday, damage was still done earlier to the equity markets thanks to the uncertainties caused by tariff talk and softening economic data. The S&P 500 slipped 1%, erasing most of the remaining gains for 2025 and leaving the...
Bad Moon Rising
Last Week The good news is that the stock market set new record highs on Tuesday and Wednesday. The bad news is that weak guidance from Walmart on the state of the consumer reversed those gains. The ugly news was the economic data on Friday, specifically the...
Tariff Teeter Totter
Last Week The seesaw action on Wall Street continued, with stocks snapping a two-week losing streak. President Trump’s tariff talk continued to dominate the news flow. The basic storyline reads that stocks drop when tariffs are announced and then recover when those...
Tariff Talk Takes a Toll
Last Week There must be some kind of way outta here Said the joker to the thief There’s too much confusion I can’t get no relief All Along the Watchtower – Jimi Hendrix/Bob Dylan “There’s too much confusion,” the portfolio manager told the trading desk. I can’t get...
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Market Commentary by Eric Kuby, Chief Investment Officer of North Star Investment Management