Category: Economics

  • Uncertainty

    David R. Kotok, July 21, 2024 (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) Mr. Market had answered this way about recent uncertainty: “Gimme bad news or gimme good news, but don’t gimme no news.” It took an assassination attempt and the subsequent political events to initiate a…

  • France Again!

    By David R. Kotok, July 14, 2024 (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) The news about any shooting attack on any candidate for any American public office, whether a presidential candidate or a local politician, is disturbing and distressing. There isn’t much more to say…

  • Houthis & Putin Raise Shipping Costs Again, by David R. Kotok, June 30, 2024

    (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) Peter Boockvar routinely updates the shipping costs being imposed on the world by behaviors of certain bad actors like Putin in Russia and like the Houthis in Yemen. Here’s a recent update, from June 20th. We thank Peter for giving us…

  • Cuba Updated, by David R. Kotok, June 23, 2024

    (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) A Cuba Update (June 2024) “Cuba Series, Part 1: The Bay of Pigs,” Feb. 04, 2024, https://www.cumber.com/market-commentary/cuba-series-part-1-bay-pigs“Cuba Series, Part 2: US Sanctions on Cuba?” Feb. 11, 2024, https://www.cumber.com/market-commentary/cuba-series-part-2-us-sanctions-cuba“Cuba Series, Part 3: Healthcare,” Feb. 18, 2024, https://www.cumber.com/market-commentary/cuba-series-part-3-healthcare“Cuba Series, Part 4: Helms–Burton & Readers Respond,”…

  • France, by David R. Kotok, June 21, 2024

    (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) “How can you govern a country with two hundred thirty-eight varieties of cheese?” “• François Mitterrand, President of France, 1981–1995 Henry Kissinger to Chinese Premier Zhou Enlai in 1972: “What do you think of the French revolution?” Zhou: “Too…

  • Putin, Maduro, Oil, Defense, by David R. Kotok, June 17, 2024

    (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) IMO, America’s enemy, Mr. V. Putin, is using his Venezuelan proxy, Nicolás Maduro, to open a third front against the US. At the end of this discussion is a list of citations in support of my view. Summary: Like…

  • 51 Years! by David R. Kotok, June 16, 2024

    (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) Who’da thunk it? 51 years ago (June 18, 1973) my co-founding partner, Sheldon “Shep” Goldberg (deceased) and I received a letter from the Securities and Exchange Commission informing us that Cumberland Advisors was legally registered as an investment advisory…

  • High-Tech Bubble Valuation? I’m Not So Sure!

    David R. Kotok, June 11, 2004 (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) While respectful citizens observed D-Day commemorations, 80 years on, another invasion occurred on June 6th of this year. Barron’s summarized it like this:  Microsoft (MSFT), Apple (AAPL) and Nvidia (NVDA) are each worth a little more…

  • Readers Respond to Tariffs, by David R. Kotok, May 21, 2024

    (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) In last week’s commentary “Tariffs and EVs” (https://www.cumber.com/market-commentary/tariffs-and-evs), I wrote: IMO, tariffs are counterproductive except for a direct wartime usage. How many readers can point to a single successful outcome from the Trump tariffs? If you can and will…

  • Hoenig on Banks & Whalen & Tarullo – by David Kotok – June 5, 2024

    Hoenig on Banks & Whalen & Tarullo – by David Kotok – June 5, 2024

    (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) I recently featured an interview on Fed policy that was done by Kathleen Hays (“Hoenig: Fed Faces ‘Fragile Equilibrium’ as Inflation Steadies Near 3%“). Her interviewee was Tom Hoenig, an accomplished central banker with impeccable credentials. He was also…