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As January Goes

/ January 7, 2022

We are only six days into the year, but most investors must hope that the adage “as January goes, so goes the year” does not hold true for 2022.

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US Equity Transitions

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Despite huge supply chain disruption, rising inflation and a more-hawkish-than-expected central bank, the S&P 500 index rose a whopping 27% last year and along the way…

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Are Rock-Bottom Bond Yields ‘Irrational’?

/ December 23, 2021

What has been the most surprising financial event of 2021? The 20% gain in equity prices, the 40% jump in oil prices and even the fivefold leap in US inflation may all have been bigger than expected, but they were at least directionally understandable consequences of the fastest growth in the world economy for 40 years.

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Growth Stock Relative Performance

/ December 10, 2021

Last week’s EVA pointed out the considerable damage that has occurred below the placid surface of the US stock market.  It also urged taking advantage of the stealth sell-off, particularly with regard to those market segments of a more cyclical nature.

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What, Me Worry?

/ October 29, 2021

As is the case with Evergreen, our partner firm Gavekal encourages an environment of “opinion exchanges”.  In the latter case, much of that stems from the inherent philosophical divergences regarding economics and politics between its three co-founders. 

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