Research & Insights
Our investment decisions flow from incisive perspectives.
Category: Market Commentary
February 2018
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
The beginning of February saw an acceleration of the market decline which had begun late the prior month. Concerns over rising interest rates and some profit taking in the high-flying Technology sector, paced the initial declines. Yields… Read Full Post
January 2018
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
The year began largely as the prior one had ended – with generally sanguine views on economic fundamentals leading to rationalization of asset valuations. The boost of a significant fiscal stimulus in the form of US tax… Read Full Post
December 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
The quarter started with the absence of any major economic or geopolitical news. That left investors to contemplate the generally sanguine and oddly complacent nature of the markets. In the US, the Republican tax plan was the… Read Full Post
November 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
With little in the way of substantive news events, optimism propelled the markets forward as investors anticipated a continuation of steady economic growth, good corporate performance, and accommodative monetary policy. US consumer confidence rose to its highest… Read Full Post
October 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
In the absence of any major economic or geopolitical news, investors were left to contemplate the generally sanguine and oddly complacent nature of the markets. In the US, the Republican tax plan was the main political story… Read Full Post
September 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
After several months of modest gains shadowed by questions over potential central bank tightening, investors interpreted US Fed Chair Yellen’s July testimony to Congress as somewhat more “dovish” on the outlook for inflation and the pace of… Read Full Post
August 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
Given all of the macro and political drama of the last several months, the month of August was relatively quiet. Of course there was posturing around trade deals, budget/debt-ceiling negotiations, and administration-created controversy (this time around protests… Read Full Post
July 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
After several months of modest gains shadowed by questions over potential central bank tightening, investors interpreted US Fed Chair Yellen’s testimony to Congress as somewhat more “dovish” on the outlook for inflation and the pace of further… Read Full Post
June 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
April began with an air of collective uncertainty settling over the markets. However, that uncertainty had an oddly sedating effect as news which in the past would have elicited a reaction by investors (e.g. a US missile… Read Full Post
May 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
Markets were largely flat for the first half of May as political uncertainty once again dominated headlines with the French presidential election (subsequently won by centrist Macron vs far-right Le Pen) and the unexpected firing of the… Read Full Post
February 2018
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
The beginning of February saw an acceleration of the market decline which had begun late the prior month. Concerns over rising interest rates and some profit taking in the high-flying Technology sector, paced the initial declines. Yields… Read Full Post
January 2018
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
The year began largely as the prior one had ended – with generally sanguine views on economic fundamentals leading to rationalization of asset valuations. The boost of a significant fiscal stimulus in the form of US tax… Read Full Post
December 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
The quarter started with the absence of any major economic or geopolitical news. That left investors to contemplate the generally sanguine and oddly complacent nature of the markets. In the US, the Republican tax plan was the… Read Full Post
November 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
With little in the way of substantive news events, optimism propelled the markets forward as investors anticipated a continuation of steady economic growth, good corporate performance, and accommodative monetary policy. US consumer confidence rose to its highest… Read Full Post
October 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
In the absence of any major economic or geopolitical news, investors were left to contemplate the generally sanguine and oddly complacent nature of the markets. In the US, the Republican tax plan was the main political story… Read Full Post
September 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
After several months of modest gains shadowed by questions over potential central bank tightening, investors interpreted US Fed Chair Yellen’s July testimony to Congress as somewhat more “dovish” on the outlook for inflation and the pace of… Read Full Post
August 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
Given all of the macro and political drama of the last several months, the month of August was relatively quiet. Of course there was posturing around trade deals, budget/debt-ceiling negotiations, and administration-created controversy (this time around protests… Read Full Post
July 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
After several months of modest gains shadowed by questions over potential central bank tightening, investors interpreted US Fed Chair Yellen’s testimony to Congress as somewhat more “dovish” on the outlook for inflation and the pace of further… Read Full Post
June 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
April began with an air of collective uncertainty settling over the markets. However, that uncertainty had an oddly sedating effect as news which in the past would have elicited a reaction by investors (e.g. a US missile… Read Full Post
May 2017
Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist
Markets were largely flat for the first half of May as political uncertainty once again dominated headlines with the French presidential election (subsequently won by centrist Macron vs far-right Le Pen) and the unexpected firing of the… Read Full Post
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