Panic! At the Disco

March 24, 2018 by Ehren Stanhope

Making money has been too easy since 2009. It’s about to get harder.

Fundamental relationships have changed in the wake of QE

October 05, 2016 by Ehren Stanhope

There is one trend in particular that I have been watching—the relationship between bond yields and equity valuations. Traditionally, there is a somewhat positive relationship between the two, but massive monetary policy intervention has thrown everything out of whack.

Shifting Monetary Policy

January 04, 2016 by Ehren Stanhope

About this time each year we make resolutions regarding our future goals. We sign up for gym memberships, and swear off those unbreakable habits. We promise to eat salads for lunch, spend more time with family, and read a book a month. All of these things take time, and a lot of it, but require a paradigm shift.

Continued U.S. dollar strength is not a foregone conclusion

May 26, 2015 by Ehren Stanhope

The Dollar Index (DXY) just recorded the 3rd strongest nine month move back to 1967. It appreciated 23.3% from July 2014 to March 2015. In a few short quarters investors have forgotten about the persistent 50 year weakening of the dollar, shown below. The recent move appears on first glance to bear the distinction of being the lone cyclical strengthening which occurred PRIOR to an actual Fed Funds rate hike. One could easily argue, however, that the tapering of quantitative easing served as the de facto rate "hike".