Cabana’s CEO Chadd Mason shares his unique perspective on the markets here and across the world every Monday.
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Major stock indices gained more than 3% last week, continuing a remarkable bounce off the March 23 bottom. The S&P 500 is testing both its 200-day moving average and the late April high just under 3000. The speed and size of the price gains over the past six weeks has not been seen since the… Read the full article.
Equity markets finished off April with the biggest monthly gain since 1974. The huge rally followed an even bigger decline in March. Face-ripping rallies are common in bear markets, although it must be noted that this one was especially quick. The S&P 500 moved all the way back to its 200-day moving average, just below… Read the full article.
As our country begins to consider reopening for business, I am left wondering how we will forever be changed? Will we shake hands with new acquaintances? Will we travel for meetings or will we stay put and Zoom? Will home delivery of food, groceries and other goods become the norm? Will college education be an… Read the full article.
We’re mixing things up this week. The below commentary is a compilation of the questions and answers that came out of a monthly webinar our team hosted last week with professional advisors around the country. The advisors that participated are currently using our portfolios for their own clients, and in my opinion, had some very… Read the full article.
Investors in markets of all types continue to try and assess the damage to corporate earnings that will be seen over the next few months as a result of the coronavirus. This analysis leads to repricing of all assets, not merely stocks. It is very important to understand that investments across all major asset classes… Read the full article.
Equity markets continue to experience wild swings in both directions. Last week, we saw two big up days, mixed in with three down days. The S&P 500 finished down 2.5% for the week and down almost 25% year-to-date. Yesterday (April 6), those same markets jumped 7% in the face of dire economic predictions, resulting from the… Read the full article.
Stock markets around the world are trying to stabilize after the historic drop we have seen this month. Swings of 4% a day have been the rule for more than three weeks now. The S&P 500 enters the last day of March down 19% for the year and down 12.5% for the month. This makes… Read the full article.
On behalf of everyone here at Cabana, I want to wish our clients, investor partners and friends good health and peace at this time. What we are collectively facing as a nation is in many ways unprecedented. Never has our economy and day-to-day life come to a sudden and complete halt. In the coming months, we will see many… Read the full article.
U.S. and international equity markets dropped 11% just today and are down almost 20% this month alone. Year to date, the S&P 500 is down more than 25%. COVID-19 started in January as something that had the remote possibility of causing problems here in the United States. Today, less than three months later it has… Read the full article.
Given the continued bloodbath we are seeing in stocks, this commentary serves as follow up to the Special Report we released just over a week ago, on February 29. In that report, we noted that an explosive rally was likely early the week of March 2, due to short covering and extreme oversold conditions. We… Read the full article.
Today we are seeing the start of an expected bounce in stocks from extreme oversold conditions. We mentioned this in greater detail in the Special Report we put out over the weekend. We will watch closely over the next few days to find out if the market can hammer out a meaningful bottom. I do… Read the full article.
As soon as we mentioned the first sign that the coronavirus was impacting earnings (Apple lowered forward guidance), the virus broke out of general containment in China and began rapidly spreading into South Korea, Iran and Italy. This news provided a significant psychological impetus over the weekend to sell risk assets in the belief that we… Read the full article.
Earnings have continued to drive equity prices higher throughout the first half of February. This has occurred in the face of a variety of external threats, including ongoing domestic political upheaval and a worldwide coronavirus epidemic. As always, it is earnings that drive prices. The rest is just noise until the noise begins to impact… Read the full article.
U.S. corporate earnings continue to roll in beating expectations on both the revenue and sales side. The S&P 500 earnings growth rate remains at 8% annually, while year over year fourth quarter earnings saw an increase of 0.7% (according to FactSet). This is the first positive YOY quarterly growth in the S&P 500 since 2018…. Read the full article.
Last week, we discussed the coronavirus outbreak and implications it might have on markets going forward. I provided some statistics related to previous epidemics and the historical response to those by equity markets worldwide. That data is inconclusive at best. I ended the commentary by pointing out that this current medical crisis (like all worldwide events) does not… Read the full article.
Just as quickly as the drumbeats of war with Iran quieted, we became overwhelmed with news of a rapidly spreading potential pandemic coronavirus. The virus started in China and has now been found in numerous countries around the world, including the United States. It is currently projected to be less severe than the SARS virus, which… Read the full article.
In recognition of the Martin Luther King Jr. holiday, this commentary is as of Tuesday, Jan. 21. U.S. equity markets closed last week at new all-time highs. Foreign markets appear to be in the process of bottoming out after several years of underperformance. We are starting to hear a lot of predictions that foreign markets… Read the full article.
What a week! In just about seven days, we (the U.S.) and the world have stepped back from the brink of war with Iran, Iran has shot down a civilian aircraft killing 176 innocent people (and then lied about it), and the Iranian people have gone from marching in the streets chanting death to the U.S. to… Read the full article.
I hope everyone had a happy and heathy holiday! The older I get, the more I realize that we don’t get do overs in life. Let’s all strive to make 2020 the best year yet. The new year started out with some rocky and even scary international developments. Our present conflict with Iran has caused… Read the full article.
On behalf of everyone at Cabana, I would like to thank our clients and investor partners for your continued belief in us. Without you we could not do any of the things we work to do in hopes of making the world a better place. Please know that I do not take your trust for… Read the full article.
