Research & Insight

February 27, 2015 By Steve Blumenthal This past week Germany sold five-year debt at a negative yield for the first time in history. Read, wash, rinse and repeat. A negative yield for the first time in history. The problem globally is unmanageable debt. An investor gets to pay Germany money for [...]Read More >

2/24/2015 @ 6:27PM Steve Blumenthal, Contributor What beat me was not having brains enough to stick to my own game – that is to play the market only when I was satisfied that precedents favored my play.” - Jesse Livermore, Reminiscences of a Stock Operator There has been a lot of debate on [...]Read More >

S&P 500 Index 2115 By Steve Blumenthal February 25, 2014 Trend evidence remains favorable yet sentiment has climbed back to Extreme Optimism.  Such readings are short-term bearish for the market. This week, along with the usual trend and sentiment charts, I include a special chart that [...]Read More >

February 20, 2015 By Steve Blumenthal “I think the government solution to a problem is usually as bad as the problem and very often makes the problem worse.” - Milton Friedman A close friend bought a $1 million condo but he did something very unusual, he borrowed the mortgage loan in Yen instead [...]Read More >

Debt And (Not Much) Deleveraging February 2015 After the 2008 financial crisis and the longest and deepest global recession since World War II, it was widely expected that the world’s economies would deleverage. It has not happened. Instead, debt continues to grow in nearly all countries, in [...]Read More >

S&P 500 Index 2100 By Steve Blumenthal February 18, 2014 Every once in a while I post a chart on “margin debt”. Like available cash, margin debt can be used to buy stocks. Such demand can fuel stock prices higher.  Problems tend to occur when you reach extreme. Evidence suggests we have [...]Read More >

February 13, 2015 By Steve Blumenthal “What beat me was not having brains enough to stick to my own game – that is to play the market only when I was satisfied that precedents favored my play” Jesse Livermore – Reminiscences of a Stock Operator There has been a lot of debate on the [...]Read More >

S&P 500 Index 2032 By Steve Blumenthal February 11, 2014 I came across the following special chart this week.  It speaks directly to the investor behavior and how it tends to be wrong (behaviorally buy and selling at the wrong times).  Often quoted Warren Buffett says, “Be fearful when [...]Read More >

On February 11, Mike Sciortino and Michael Hee hosted a webinar discussing the CMG Opportunistic All Asset Strategy and why it makes sense to position it in your clients' portfolios today.  The webinar covers the strategy overview and portfolio construction process followed by a Q & A session. [...]Read More >

February 6, 2015 By Steve Blumenthal In ev'ry job that must be done There is an element of fun You find the fun and snap! The job's a game And ev'ry task you undertake Becomes a piece of cake A lark! A spree! It's very clear to see that A Spoonful of sugar helps the medicine go down The [...]Read More >