Research & Insight

We’ve moved! Going forward, you can find On My Radar on our new website:🔗 cmgprivatewealth.com/insights Same great insights—just a new place to find them. Thanks for staying with us; we look forward to seeing you there! Best regards, Steve Stephen B. Blumenthal Executive Chairman & [...]Read More >

  February 7, 2025 By Steve Blumenthal The debt problem is like a medical condition, using a circulatory system metaphor. Just as plaque builds up in arteries, debt accumulates and "constricts the circulatory system" of the economy. The longer you wait to address it, the more dramatic [...]Read More >

  January 31, 2025 By Steve Blumenthal "We're also at a unique moment geopolitically, and I could see in the next few years that we are going to have to have some kind of a grand global economic reordering, something on the equivalent of a new Bretton Woods or if you want to go back [...]Read More >

  January 24, 2025 By Steve Blumenthal "The first job is to avoid the big mistakes - like the 70s, like the great financial crisis, like the big inflation we just had, but all this (Fed) fine-tuning and worrying about a soft landing, that is not the job of the Fed. Their job, in my [...]Read More >

  January 17, 2025 By Steve Blumenthal "Because my game has been to bet on the markets and because the debt markets drive just about everything, I have been obsessed with studying debt dynamics for decades. I believe that if you understand these dynamics, you can do very well as an [...]Read More >

  January 10, 2025 By Steve Blumenthal "The investor who says, ‘This time is different,’ when in fact it’s virtually a repeat of an earlier situation, has uttered among the four most costly words in the annals of investing." – Sir John Templeton Howard Marks is a legendary figure in [...]Read More >

  January 3, 2024 By Steve Blumenthal "It is more important to know what will happen than when it will happen, because it is impossible to forecast with precision the timing of critical events." – Arthur Zeikel, former Chairman of Merrill Lynch Asset Management and co-author of [...]Read More >

  December 27, 2024 By Steve Blumenthal "Value investing is the discipline of buying securities at a significant discount to their underlying value and holding them until more of their value is realized. The concept is simple, but the execution can be challenging." – Seth Klarman, [...]Read More >

  December 20, 2024 By Steve Blumenthal "Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria." – Sir John Templeton An essential and prescient quote for the current state of play. Investor and GMO investment and asset management [...]Read More >

  December 13, 2024 By Steve Blumenthal "Earnings don't move the overall market; it's the Federal Reserve Board... focus on the central banks and focus on the movement of liquidity... most people in the market are looking for earnings and conventional measures. It's liquidity that [...]Read More >