Every highly experienced Wall Street professional has, tucked away in their back pocket, something called a “Deliver the firm” speech. It is a standard feature of any business pitch in finance,…
Month: February 2018

"Higher Volatility Doesn't Mean Stocks Will Suffer This Year"
From CNBC’s Bob Pisani on a recent DataTrek report: “Volatility has returned to the market in a big way, but that doesn’t necessarily mean lower returns for stocks. What’s been…

Bitcoin/Stock Correlations: An Update
Today we update our statistical work on the relationship between bitcoin’s price and the S&P 500. The notion that bitcoin is a “Stub” asset (the riskiest piece of a capital structure)…

Learning to Love Volatility
Of everything that impacts the capital markets, behavioral biases are often the most underappreciated. We try to keep this in mind as it can provide insight into the bigger picture. Take…

Long Term Look at US Equity Volatility
US equity market volatility has returned, so today we take a big step back and examine long-term historical trends here. Specifically, we want to address two questions we hear a lot:…

The Most Important Number to US Stocks
We’ve come to the conclusion that US stocks are keying off one interest rate-related number, but it is not the US Treasury 10 Year yield that is so commonly mentioned. Yes,…