David Kotok | TalkMarkets | Page 5
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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Markets & The Deficit
The latest federal deficit numbers show the Trump budget implementation running about $1 trillion annualized.
Brexit Uncertainty For Investors Persists
The exceptional Saturday session of the United Kingdom’s Parliament, the first in 37 years, was expected to produce a decisive yes or no vote on the new Brexit deal Prime Minister Boris Johnson had negotiated with the European Union.
The Market Knows
The Federal Reserve Bank of New York announced on Friday, Oct 4 that it would continue to offer a maximum of $75 billion in overnight repurchase agreements and at the same time offer a series of term repos through at least November 4.
Eurozone Economy Risks A Decline With Divided Central Bank
The latest September data for the eurozone economy from IHS Markit present a deteriorating picture, with the demand for goods and services falling at its fastest rate in over six years and a deepening recession in manufacturing.
Repos And Reverse Repos
It remains somewhat of a mystery as to why the sudden pressures have arisen in this market.
Market Commentary – 3Q2019 Review – Market Volatility ETF
The broad market benchmark S&P 500 decreased 3.1% for the week as well, marking its worst week of 2019.
The Payments Modernization Act
Legislation has recently been introduced to require the Federal Reserve to develop a real-time payments system to compete with existing systems.
The Bond Conundrum And How To Manage
The past couple of weeks have been breathtaking for bond investors and observers of the bond market.
Cry For Argentina
Investors are clearly fearful of economic policies taking a left turn at a time when the economy is in recession: Growth declined 2.5% last year and 5.8% in the first quarter of 2019.
Markets During Apollo 11
Equity markets have reflected the country’s growth in population and technology. It’s been 20+ years since we have been at the level of bond yields that were existing at the time of the moon landing.
To Pass Or Not To Pass? - Part II
GDP growth came in at 2.1%, which is exactly what the FOMC SEP projections had for all of 2019. That GDP number exceeded the most frequently mentioned expectation of 1.8%.
Draghi Signals "You Go First" To The Fed While Johnson Threatens
The European Central Bank (ECB) did not reduce key interest rates at its July meeting ending last week, contrary to the expectations of some observers.
Libra And Other Cryptocurrencies
Facebook has made a lot of claims of the potential benefits of the Libra innovation, but some were viewed by Congress as either questionable or highly optimistic.
To Pass Or Not To Pass? - Part I
The Committee can do three things – lower rates, keep rates steady, or raise rates – and in this case, all three options have potentially negative consequences. Let us consider the kinds of fallout that might occur from each.
Market Commentary: Clams Or Gold?
Johnny Hart, the creator of the comic strip BC, created an economy in which clams served as currency. A currency in the form of a good is of course nothing new, but gold seems to have endured the test of time, or so we are led to believe.
What Does "Data-Dependent" Mean?
Markets and pundits were hyperventilating this past week over the prospect that the FOMC might cut the fed funds rate at its June or perhaps at its July meeting, driven by concerns that the economy might be slowing.
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