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:
Ebb and Flow of Tensions and Stresses
In early November 2016 the Fed Funds Rate was 0.25% and the yield on the Ten-Year Treasury was just under 2%. The consensus opinion was that rates had been artificially low since the 2008-2009 financial crisis, but that it was time to normalize those rates. Turn the...
Baby Steps
Last Week: The market opened modestly higher Monday morning in response to the shift away from imposing tariffs on Mexico over the weekend and then treaded water the rest of the week to register 0.47% gain by the closing bell on Friday. The Ten Year-Treasury rate was...
Slightly Cold Porridge and a Pretty Hot Market
Last Week: Since the end of September, Federal Reserve and Trade policies have been the two storylines that have influenced the mood on Wall Street. Simply stated, the market wants the Fed to lower interest rates and for tariffs to go away. As a result, slightly cold...
Not So Very Merry Month of May
Last Week: The focus was clearly on trade issues, with bad news bookends from China and Mexico. Early in the week China indicated that it would retaliate to recent U.S. actions by using its 80% dominance of rare-earth metals used in high tech gear. Technology shares...
Fluctuations
Last Week: Legend has it that a young man ventured to inquire J.P. Morgan’s opinion as to the future course of the stock market. The alleged reply has become classic: “Young man, I believe the market is going to fluctuate.” From February 2016 until February 2018 the...
Just Another Manic Monday
Last Week: The “candid and constructive” tweet rally from the previous Friday was short-lived as hopes of a trade deal evaporated by Monday morning after China said it would raise tariffs on U.S. goods and President Trump signed an executive order banning...
Tweeting Away the Complacency
Last Week: “He rocks in the White House all day long Hoppin' and a-boppin' and singing his song All the little traders on Wall Street Love to hear the President go tweet-tweet-tweet” Adapted from the Bobby Day classic “Rockin Robin” These are strange times indeed that...
Be Attentive When Others Are Complacent
Last Week: First quarter corporate earnings continued to hop over the low bar that was set as positive earnings surprises reported by companies in multiple sectors (led by the Health Care sector) were responsible for a decrease in the overall earnings decline to 0.8%...
First Quarter Porridge Warms Up
Last Week: Concerns that the porridge was getting too cold appear to have been unwarranted. The S&P 500 and the Nasdaq Composite hit record highs as strong earnings reports and economic reports fueled investor enthusiasm. Earnings season is about half way over and...
Earnings and Unicorns
Last Week: The headline in “The Trader” section of Barron’s was “The Market Did Nearly Nothing This Week”, as the S&P 500 dipped 0.1% in holiday-shortened trading. What little action there was in the market was focused on the IPOs of “Unicorns” (companies with...
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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.