We think our Loss Averse Equity Income strategy is coming into favor as our expected 5% dividend yield is substantially higher than yields that can be achieved from the bond market globally, and that of the S&P 500. We expect interest rates to increase over time, and have positioned the portfolio into securities that will…
The stock market has gone from a short term oversold condition to an overbought condition very quickly. The market has rallied about 5% from the low at the end of January. At the same time, earnings estimates for 2015 have been slashed, expecting only 3% growth. You can see from the chart below, the first…
The markets had a nice move up last week, as we mentioned in our previous “Market in a Minute” that the markets were oversold on a short term basis and was either going to pop up or if it continued to get worse, would establish a downtrend. We don’t see anything in the near term…
We mentioned a couple of weeks ago that the tape, or the market, was acting very poorly and did not feel well. The S&P 500 was down about -3% for the month of January, with the worst performing sector being Financials down around -7%, and the best sector was Utilities up about 2%. We believe…
Last week, the ECB did not disappoint by committing to buy 60 billion euro of sovereign debt per month beginning in March for the next year and a half. To throw a little cold water on the celebration, the Greek election was won, as expected, by the far left, which ran on anti- austerity. We…
PVG hosted our annual conference call on January 22, 2015. Our agenda and information is listed in the link below: 2015 Conference Call Presentation A replay of the call is available for download as well:
The tape feels horrible. The lack of liquidity is concerning. The equity market is negative on the year. Treasury bonds, on the long end of the yield curve, continue to fall in yield. There has been a significant flight to quality. The current yield on the junk bond market is 6.81% relative to a yield…
The markets have started the year on the negative side, with the S&P 500 down -.68%. There is a theory called the January Barometer, which states that the movement of the S&P 500 during the month of January sets the stock market’s direction for the year (as measured by the S&P 500). The January Barometer…