The Impossible Math of the Federal Reserve

12

Yesterday the Federal Reserve officially signaled the beginning of its balance sheet run-off. At this point, that’s old news. But, today the Fed released the Z.1 Flow of Funds, which adds to the intrigue of the balance sheet run-off. Why? Instead of getting wrapped up in fancy terms like quantitative easing and large-scale asset purchases, […]

Investors Should Pay Attention to the Foreign Materials and Energy Sectors, They Are Fast Becoming Leadership

We’ve been talking at length recently about the attractiveness of foreign, cyclical stocks here, here, here, and here just over the last month. While foreign developed markets are attractive, emerging markets are especially attractive from a valuation perspective and are also benefiting from what we think is just the beginning of a persistently weak US dollar environment. […]

Investing in Gold for RICs

1

For retail investors, there are a few vehicles for exposure to gold. The SPDR Gold ETF (GLD) and the iShares Gold ETF (IAU) are the biggest, lowest cost funds for retail investors. Below are charts of the GLD and the IAU, with price and USD volume overlay to illustrate the liquidity. The GLD ETF trades […]