All bonds are not the same, and when it comes to high yield they can be more like equity than fixed income at times. High yield’s lower credit ratings and reliance on funding add risk, and some investors have relied on this asset class over the past couple of years in search of yield. An Read more […]
This is more an eyewitness account than an analytical review of the growth of indexing since I joined S&P in 1982. At the beginning of 1982, few people saw indices as a business. There were only two well-known US indices – the S&P 500® and the Dow™ – and one index fund. Interest rates and Read more […]
The S&P 500 closed April 23, 2019, at a new record high. The index’s closing value of 2,933.68 is the highest since the 2,930.75 posted on Sept. 20, 2018. From that previous high, the benchmark declined 19.86% to 2,351.10 by Dec. 24, 2018, narrowly avoiding bear market territory. December 2018 was the second-worst December in Read more […]
“The more you look at ‘common knowledge’, the more you realise that it is more likely to be common than it is to be knowledge” – Idries Shah, Reflections Statements such as “sell in May and go away” can become accepted wisdom without always facing proper scrutiny. Another aphorism, particularly timely at the present moment, is Read more […]
Does this describe 2018? This perhaps? What about this? Let’s be frank: the markets took a bit of a beating this year. In contrast to the tremendous performance of last year, 2018 was markedly less enjoyable or serene: At the Close – the DJIA ends an ugly year on a positive note; the last session Read more […]
Yet here I am, writing about the DJIA crossing through yet another 1,000 point milestone – 25,000, no less – a mere 23 trading days after the last one and right on the tail of the 5 successive 1000 point marks achieved last year. With the 152.45 points (0.61%) gained during today’s session, the Dow Read more […]
OK, that might be hyperbole. This may not be the Top 10. Let’s just say it’s a Top 10. Regardless, it’s hard to deny that 2017 was a standout year for US equity markets. To wit: At the Close – despite losing 118+ points during the final trading session, the DJIA ends the year at Read more […]
Wow. It may not be experiencing quite the same year-to-date appreciation as bitcoin – nor its volatility, mind you – but by all accounts the Dow Jones Industrial Average has had a remarkable run in 2017. And, powered Thursday by a gain of 331.67 points (+1.39%), it topped 24,000 for the first time in history. Read more […]
Today, the Dow Jones Industrial Average closed above 23,000 for the first time – offered here are a few factoids associated with that milestone: A Record – there have been four (4) 1000 point thresholds crossed in 2017, the most of any year since the DJIA’s inception in 1896. Less Impact Per Milestone – of Read more […]
In 100 days one can: Sequentially boil 48,000 three minute eggs Enjoy nearly 1,372 viewings of The Usual Suspects (a tally I’ll admit to being embarrassingly close to achieving) Assemble evidence to render an arbitrary judgment on the accomplishments of a newly-elected US President Tomorrow marks the end of Donald Trump’s first 100 days in Read more […]
