CEO of Alhambra Investment Partners
Contributor's Links: Joseph Calhoun

Joe has worked in the financial services industry since 1992 in various capacities, including Operations Manager, Compliance Manager, Registered Representative and Portfolio Manager. From 1997 to 2006, when he founded Alhambra Investment Management, Mr. Calhoun was a Director of ... more


EC Monthly Macro Monitor: The Tempest
The economy is slowing and the trend is toward slower still. But neither the yield curve nor credit spreads point to an imminent recession.
Monthly Macro Chart Review: April 2019
The economic data reported over the last month managed to confirm both that the economy is slowing and that there seems little reason to fear recession at this point. The slowdown is mostly a manufacturing affair but consumption has also slowed.
Monthly Macro Monitor: Well Worried
An inverted yield curve merely represents the bond - and money - market’s collective wisdom about future growth. The Fed may control short term rates but long term rates are a distillation of the market’s expectations for nominal growth.
Macro Chart Review – March 2019
The economic slowdown may have peaked already but we really won’t know until we get caught up on the economic data. The consumer sentiment/confidence data seems to confirm that December was the nadir of the slowdown so far.
Market At The Crossroads
Investors see what they want to see, hear what they want to hear. Or sometimes see and hear what someone in a position of power wants them to see and hear.
Monthly Macro Monitor – January 2019
There seems to be a lot of fear out there that a recession is imminent. The data and markets just don’t support that right now.


Latest Comments
Keystone Comes A Cropper
1 year ago

I question the very first assumption in that infographic. Unless oil prices remain high there is no economic reason to mine tar sands in Alberta. It is expensive, dirty oil. Is it economic at $45? I have my doubts. And if it isn't, there is no reason for the pipeline. Having said that, if Trans-Canada wants to build it with their own funds, let'em. If it fails their shareholders will pay the price.

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Latest Posts

Work Experience

Real Clear Markets
February 2011 - Present (8 years 5 months)
Alhambra Investment Partners LLC
July 2006 - Present (13 years 1 month)




Oppenheimer & Co.
January 1997 - July 2006 (9 years 8 months)


University of South Carolina-Columbia
1979 / 1982