by David Wagner | May 22, 2023 | Blog, Macro Updates
I broke a 2 year tradition: I was unable to get a musing out on George Strait’s birthday (D.O.B: 5/18/1952). He turned everyone’s favorite golf score, 71 – also the score booked by Michael Block in this past weekend’s PGA Championship. Two-part commentary this week:...
by David Wagner | May 4, 2023 | Equity Case Studies, Equity Research
With the Kentucky Derby scheduled for this weekend, I’ve been thinking about the multiple similarities between horse racing and stock picking. The market for common stocks is like the pari-mutuel betting system at the racetrack. Patrons go to the track to make bets on...
by David Wagner | May 1, 2023 | Blog, Market Updates
April ‘23 Market Recap: Despite elevated macro and micro uncertainty, the S&P 500 rallied 1.5% in April. Keeping with positive correlation, fixed income continues to trade in the same direction as equities. The recent sharp decline in equity market breadth also...
by David Wagner | Apr 19, 2023 | Blog, Macro Updates
On the radio last week, I heard a classic John Prine song that had the following (slightly tweaked) lyric: “a clown puts his makeup on upside down, so even when he smiles, he wears a frown”. It’s actually a pretty funny song if you listen to the lyrics. I think it...
by David Wagner | Apr 10, 2023 | Blog, Macro Updates
Alright, let’s hit a polarizing topic because I’ve been asked this question numerous times over the last week or so – the currency debate. It’s no secret that the dominance of the U.S. dollar has been challenged for years decades. In fact, I saw a clipping from 1975...
