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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…
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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…
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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…
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Trump Verdict & Markets, by David R. Kotok, June 3, 2024
(The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) I received an email from a retired NY judge, who noted the 574-point rally in the Dow Jones Industrials as a positive response to Trump’s guilty verdict. I disagreed. I believe markets rallied post-verdict for other reasons. Markets are still…