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:
Peak Pessimism
A Million Reasons In her 2016 hit ‘Million Reasons,’ Lady Gaga sings: “I've got a hundred million reasons to walk away But, baby, I just need one good one to stay.” That one line captures how easy it is to find recent data points that support pessimism, and yet...
When Doves Cry
The $9 Trillion Question The $9 trillion question (size of the Fed’s balance sheet) which is unnerving the financial markets is whether “normal” monetary policy can be restored without crashing the economy. We have recently and frequently heard the argument that since...
Pick Your Brick
Inversion Diversion Some market prognosticators believe that the stock market climbs any "wall of worry." If that is true, then the stock market is going much, much higher. Ironically, despite all the supply-chain issues globally, so far in 2022 there have been no...
Recovery Rebound
Small-Caps Are Finding Their Footing The bounce back rally continued for a second week, with mega caps back in favor as the S&P 500 advanced +1.8%, and the Nasdaq gained nearly +2%. Small-caps continued to lag the field, with the Russell 2000 slipping -0.4%. On...
Rate Rise Rally
Outbreaks and New Rates In our previous commentary, “War-Torn Week”, we adapted the blues song “Stormy Monday” to describe the tone of the market. We expressed our belief that in the upcoming week that the war would be the primary determinant of the direction of...
War-Torn Week
Carnage Continues The market definitely sang the blues as the Dow Jones Industrial Average notched its fifth consecutive week of losses, down 2%, while the S&P dropped 2.9%, the Nasdaq slid 3.5%, and the Russell 2000 declined 1.06%. It was a worn-torn Monday And...
Geopolitics Obscure Fed Path
Historical Impacts of Military Conflicts on Equity Markets While recognizing that the future of humanity has been permanently altered by Russia’s invasion of Ukraine, our commentary will remain focused on the stock market and economy during this crisis rather than on...
Volatility, Uncertainty, Complexity, Ambiguity
Volatility Persists The disconnect on Thursday and Friday between the heartbreaking geopolitical developments and the euphoric reaction on Wall Street was startling. At the close of trading Friday, with bloody battles raging in Ukraine, the major indexes had rallied...
More Bricks for the Wall of Worry
Convinced and Concerned For both the Winter Olympics and the market there were many exciting spins and twists during the week, but the stock market took a nasty spill on the slippery ice of the quad combo of geopolitics, economic reports, corporate earnings, and...
Fearful Friday
Rams Brought It Home If the trading week had ended at lunch on Thursday, then we could have cheerfully turned our attention to the Rams, Bengals, and Snoop Dogg. St. Louis Fed President James Bullard, perhaps still upset that the Rams had moved to Los Angeles, threw...
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The North Star InvestCast aims to guide investors on actionable insights in the securities markets. Hosted by Eric Kuby, Chief Investment Officer of North Star Investment Management Corp.