David Kotok | TalkMarkets | Page 11
Chairman and CIO, Cumberland Advisors
Contributor's Links: Cumberland Advisors
David R. Kotok co-founded Cumberland Advisors in 1973 and has been its Chief Investment Officer since inception. He holds a B.S. in economics from The Wharton School of the University of Pennsylvania, an M.S. in organizational dynamics from The School of Arts ...more

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May FOMC Decision
To no one’s surprise, the FOMC left its target range for the federal funds rate constant at 1.5 to 1.75%.
Global Economy Strengthening With Upside And Downside Risks Broadly Balanced
The IMF is projecting world economic growth for both this year and 2019 at 3.9%, somewhat higher than the already robust 2017 pace of 3.8%.
The VIX And The S&P 500 - An Equity Market Duet
Does a rising VIX signal lower equity returns? This may be a misconception among many investors.
Trump, Trade, T, T, T
Markets seem to have calmed down a little following Trump’s Timely if Truculent Trade Tirade (Alliteration, anyone?). Of course, calm is short-lived when missiles are flying in the Middle East.
Q1 2018 Municipal Credit
As governments are challenged by the decline in the ratio of current employees to retirees, as well as by competing demands for resources, the greater transparency required by GASB is welcome to analysts and stakeholders alike.
Asia Equity Markets: Solid Economic Growth Versus Political Risk
Asian economies have begun the year with continued solid – and in some cases robust –performance. Yet the major Asian stock markets have diverged, with some significantly outperforming and others underperforming.
SPIVA And Active Bond Management
Over the last year, core inflation has remained muted – under 2% – while the 2-year Treasury note has broken out from 1.35% to 2.34% during the same time period – meaning that the real rate of interest has increased while inflation has held steady.
Dovish Or Hawkish?
Although the FOMC rate hike was widely anticipated, pundits and markets had a range of reactions to the hike and the message delivered.
Taxable Total Return First-Quarter Review
The first quarter of 2018 provided some long overdue volatility to equity markets while Treasury yields rose across the board. The long end of the yield curve underperformed during the month of January.
Market Volatility ETF Portfolios 1Q 2018 Review: Equity Premium
The US stock market had a long overdue correction in the first quarter, a response to the concern that the market had become overvalued in the raging post-election bull market.
First-Quarter 2018 Munis: Challenging
The first quarter of 2018 was a wobbly one for municipal bonds. Supply, as we know, was taken from this quarter and moved up to December of 2017 in order to beat the tax bill.
There Is An Old Saying
There is an old saying: “You can lay all the economists end to end and they will still not reach a conclusion.”
The Threat Of A Damaging Trade War
The Trump administration is raising fears of a possible trade war, a development that is unsettling markets around the globe, upsetting some of our closest allies, and causing great concern.
Winners And Losers From Global Trade
In a grand effort to change the subject of the political discussion from Russia to something else, President Trump fired the opening shots in a new trade war.
A First Look
Chairman Powell made an appearance this week before both the House Financial Services Committee and Senate Banking Committee to discuss monetary policy and the state of the economy. How did he do?
The Classic Dupont Model
I still expect an S&P 500 Index above 3000 by decade’s end, and we still believe the disaggregation of the classic DuPont model has merit today, given the permanent nature of the tax code changes.
161 to 176 of 221 Posts
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