The Fat Pitch

I was interviewed by Cris Sheridan of  Financial Sense  on December 17th. This was a two-part interview; in the first half, I discuss my c...

Summary :  In July, the Consumer Confidence Index (CCI) jumped to its highest level since last September, right before stocks started a 20% ...

Summary :  Fund flows out of equities and into the safety of bonds is the most extreme in more than 15 years. Retail investor bearishness is...

Summary :  Although fund managers are less bearish than they were at the start of 2019, they are far from being bullish.  They are overweigh...

Summary : Fund managers came into 2018 very bullish, with cash levels at 4-year lows and allocations to global equities at 3-year highs. Glo...

We were interviewed by Cris Sheridan of  Financial Sense  on November 12th. During the interview we discuss the macro-economic environment, ...

Summary : Although US equities are up about 2% in 2018, Europe is down 10% and emerging markets are down more than 15%. Part of the reason: ...

Summary : Fund managers came into 2018 very bullish, with cash levels at 4-year lows and allocations to global equities at 3-year highs. 9...

Summary : Fund managers came into 2018 very bullish equities, with cash levels at 4-year lows and allocations to global equities at 3-year h...

Summary :  During their lifetime, most investors will likely endure another decade-long bear market like the ones in the 1970's and 2000...

Summary : Fund managers came into 2018 very bullish equities. Cash levels had fallen to the lowest level in 4 years. Allocations to global e...

Summary : Fund managers came into 2018 very bullish equities. Cash levels had fallen to the lowest level in 4 years. Allocations to global e...

Summary : Global equities rose 22% in 2017. Throughout almost that entire period, fund managers held significant amounts of cash and were, a...

Summary : Global equities have risen 18% so far in 2017 and yet, until this month, fund managers have held significant amounts of cash and b...

Summary : Global equities have risen 12% in the past 6 months and 17% in the past year, yet fund managers continue to hold significant amoun...

We were interviewed by Cris Sheridan of Financial Sense on August 24th. During the interview we discuss current market technicals, the macro...

Summary : Global equities have risen 7% in the past 3 months and 16% in the past year, yet fund managers continue to hold significant amount...

Summary : Global equities have risen 5% in the past 3 months and nearly 20% in the past year, yet fund managers continue to hold significant...

Summary : A tailwind for the rally since February 2016 has been the bearish positioning of investors, with fund managers persistently shunni...

Summary : A tailwind for the rally since February 2016 has been the bearish positioning of investors, with fund managers persistently shunni...