Webinar Replay – Horowitz & Company Client Update
February 25, 2020
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Important Disclosures
This is not a recommendation to buy or sell any security. Past performance is no indication of future results. Please research on your own or with your financial...
An Update on the REPO Market
From our latest Quarterly Economic Commentary and Review… (1st Quarter 2020)
Back in September, there was a mini-crisis within the Repo Market. We discussed the details of what occurred in the 4th Quarter 2019 Economic Commentary. Since then there has been a concerted effort by the...
There has been a recent conversation and appropriate concern focused on the underlying stability of the Repo markets. A ferocious spike in rates recently set off alarms and getting to the bottom of the cause continues to be a difficult task.
A Repo is a corner of the financial markets that...
Looking past the residential market, the one area within the real estate complex that we see some potential problems with relates to the commercial sector. In particular, the aftermath of the incredible explosion of flexible/shared office space that was forged by companies like WeWork. The company found its beginnings in...
We recently had the opportunity to attend a luncheon with Former Federal Reserve Chairman Ben Bernanke. He held positions at the Fed starting in 2002 and was appointed Chairman in 2006. He served two terms as Chairman eventually stepping down in 2014, replaced by Janet Yellen.
During his tenure, he was...
Many have questioned why there is the potential for a rate cut if the U.S. economy is holding up well in the face of a global slowdown. On the heels of a “pivot” by the Fed in late 2018, the yield on the 2-year US Treasury has slipped from 2.95%...
Over the course of many years, we were led to believe that relying on economic data out of China was a fool’s errand. While we all witnessed the incredible growth of the Chinese real estate market, we eventually found out that it resulted in hundreds of miles of empty apartment...
This is a snippet from our recent quarterly commentary. We ask the question about the path toward investment success and wonder if there is another option that plays an important role in moving markets. In addition, we focus in on the Fed and their not-so unbiased nature when it comes...
The Eurozone financial condition has been in a state of disarray for some time. It is apparent to everyone watching that the ECB and the financial authorities didn’t do much to really put in place a plan to build a better foundation underlying the banks after the financial crisis.
What they...
Hope, Fear – Where Are We In the Cycle?
It was a brutal quarter for equities. The full-year was not too pretty either. In fact, looking back, it was one of only a few times in history that all major asset classes closed lower for a calendar year. In other...
The Debate Continues: Passive or Active for Fixed Income?
Over the years, there has been a robust and healthy debate within the investment community focused on the benefits of passive vs. active investing. Historically we have taken the position that, within the fixed income space, active strategies are generally the...
Cycles Pulled Forward
Bullish U.S. Cycle
“History doesn’t repeat itself but it often rhymes“ – Mark Twain
Cycles are an economic reality. Sometimes they are short, sometimes they extend a bit longer than expected. But, more often than not, it is the same story that we see play out...
