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…
Read BlogLast 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…
Read BlogPVG 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:
Read BlogThe 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…
Read BlogThe 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…
Read BlogThe strategy will maintain the expected dividend yield in the 4% to 6% range provided cash is not raised significantly for an unforeseen event. The fundamentals dictate a cautious overall approach. The focus will continue to be on high quality dividend paying stocks. We favor the “blue chip” Dow stocks over the S&P 500, Nasdaq,…
Read BlogWe thought we would revisit a chart we have published recently from Yardeni Research as oil continues to fall. Generally there is some correlation with stock prices and commodity prices. Please click the link below to read more: Market in a Minute 2015-1-6
Read BlogLast week, the market reversed from declining about 5% from a high achieved earlier in the month and rallied about 4% off the bottom. Oil fell about 50% from the high reached earlier in the year and rallied off the bottom last week. The Oil and Gas sector was up about 10% last week and…
Read BlogLast week, Oil continued its plunge falling below $60 a barrel. As a result, the energy sector fell over -8%, and basic materials fell by nearly -7%. The carnage in the energy sector is now starting to take down the rest of the market, the S&P 500 fell by -3.5% last week. The breadth of the…
Read BlogThe price of oil has dropped by close to 50% over the last six months to a level we believe is causing serious problems for oil producers. We believe if current conditions persist it will cause credit issues. The U.S has increased production of oil by an additional 4 million barrels a day since 2010….
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