Commentary

Each month, the BCWM Portfolio Management team publishes an Investment Commentary that examines the latest developments in financial markets and the economy. We filter out the noise and present the information most relevant to our investment strategies and management of our clients’ portfolios.

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Talking Heads

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Aside from Super Bowls, the first 2016 presidential debate to be held on September 26th figures to be the most watched prime time program in the history of television. Which is really odd because when I talk to people, I don’t seem to run into very many “undecided” voters. With rare exception, virtually every person…
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VOTE!

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In what will easily be the most bizarre presidential campaign in our lives (maybe in history), I am telling you today that it is important that you vote. I’m not telling you which candidate should receive your vote. My Investment Commentary remains impartial for a reason. But never in my life have I heard so…
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Negative Interest Rates

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“Invest your money with me. I guarantee I’ll give you back less than what you invested.” This is what investors are hearing all over the world as over $10 trillion of sovereign bonds are trading at negative interest rates today. That’s right, if you invest in bonds issued by Germany, Japan and several other legitimate…
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Nuggets from Montreal

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Last week, Laura Carley and I attended the 69th CFA Institute Annual Conference in Montreal. Over 2,000 Chartered Financial Analysts gathered from 70 different countries. It was like a big global nerd convention. It turns out that nerds from other countries are a lot like nerds from the USA. There are always a few good…
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Negative Interest Rates are Not a Positive

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The first quarter of 2016 appeared to be a non-event in the stock market. The S&P 500 gained a little over 1%. Foreign stocks declined just a smidge. No big deal, right? Unless you were backpacking in the Himalayas with no internet access, you know that the first quarter was anything but a non-event. January…
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