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Profits, GDP, Markets
David R. Kotok, August 11, 2024 (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) Profits and GDP help explain the stock market rally of the post-Covid period. Corporate earnings come from these profits. The computation of profits in the National Income and Product Accounts (NIPA) are derived from…
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Healthcare and Project 2025
David R. Kotok, August 4, 2024 (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) I’ve written previously about healthcare and how it is about 18% of the total US GDP. For specific portfolio questions, go to Matt McAleer or John Mousseau or email me. The rest of this…
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US Gov. Debt: $35 Trillion & Counting?
David R. Kotok, July 23, 2024 (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) The US debt aggregate is about to cross $35 trillion; the vocal anti-debt Republicans have become silent; the Republican platform and the Republican National Convention essentially ignored government debt. Does anyone remember the…
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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…
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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…
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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…
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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,”…
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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…
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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…
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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…