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:
Bears Hibernate while Patriots Win
Last Week: What a difference a month makes. December was one of the worst months for the stock market in history, with December 24, 2018 the worst Christmas Eve on record. Flip the calendar forward, and 2019 kicked off with the best January performance in 30 years....
It’s a Profit Deal
Last Week: The holiday-shortened trading week started with a doink (yes, I’m still mourning the Bears loss) as the IMF cut its forecast for world economic growth in 2019 to 3.5% from 3.7%, leading to a 1.42% loss in the S&P 500, the largest market decline since...
Wag the Dog Rally
Last Week: The market continued its recent rebound, as the narrative has shifted to include a more dovish Fed policy as well as a positive resolution of the trade war with China. The momentum-based trading models (are there any other trading models these days?) all...
Good News, Bad News
Last Week: December 2018 was one of the worst months in history for the stock market, with the toxic combination of tax-loss selling and momentum trading driving stock prices down relentlessly. So far, the “January effect” in 2019 has been dramatic, as beaten down...
Twists and Turns and Kicks to the Left
Last Week: Alongside the Chicago Bears, the Wall Street bears were major losers this week. It was the best of times, as there was news that moderated the bear market narrative driven by concerns over the economy, fed policy, and the trade war. As for the economy,...
The Christmas Song on Wall Street
Last Week: . On Monday, the market suffered its worst Christmas Eve performance on record, with almost a 3% decline on all equity indices. That evening, Carolers sang an altered version of The Christmas Song: Chestnuts roasting on an open fire Jack Frost nipping at...
‘Tis the Season to not Panic
Last Week: At the end of August, we noted a disconnect between the news flow and the markets performance: “The often-cited adage is that the stock market climbs the wall of worry. I would suggest that the current market is instead climbing the wall of “whatever”,...
Pessimism
Last Week: Pessimism has taken root, as the impact of the “trade war” on global economies has become manifest. In a sporting contest there is usually a winner and a loser. You strategize to beat your opponent. Global trade is not a sporting contest. Quite to the...
Baby It’s Cold Outside
Last Week: Baby, it’s cold outside, and on Wall Street. Parenthetically, the Frank Loesser classic holiday song of that title (the “Elf” rendition is my favorite) has been banned from certain radio stations, but that’s a topic for a different forum. The glow from the...
Bears Take a Bye Week
Last Week: In the NFL, the Chicago Bears had a bye on Sunday, which means they didn’t get to play. Apparently, the Wall Street Bears followed suit, as the S&P 500 staged an impressive 4.85% rally without meeting much resistance. It was the S&P 500’s best...
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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.