Monthly Archives: December 2017

2017 Sets A Record

  In just the past year, the markets set a record by going 12 straight months without a loss. That liquidity driven surge was accompanied by extremely low volatility as noted last week by Dana Lyons: “Specifically, the average daily closing price of the VIX in 2017 was 11.10 (through 12/26/17). That is the lowest of…

EC Requiem For

Here we are at the end of 2017, a year that saw Donald Trump ascend to the highest office in the land and a year that saw financial assets the world over continue to inflate on the back of trillions in central bank liquidity. This was also the year of the cryptocurrency and the year…

Dollar Thrashed Into Year End

In the last week of the year, the US dollar succumbed to broad selling pressure.  Nearly all the major currencies appreciated by at least one percent against the dollar, save the Japanese yen, which gained about 0.6%. There did not seem to be a macro spark for the sell-off.  Ironically, the consensus appears to be…

E

Investors in large cap stocks can be pretty satisfied with their returns in 2017. In fact, the Russell 1000 index, which represents about 1,000 of the largest companies in the U.S. stock markets, has appreciated 19.34% in 2017, besides approximately 1.73% in dividend yield. In this article, I will show the best and the worst…