2024 Q1 Letter

Calls for recession were nearly unanimous at the beginning of 2024. How could one argue with deteriorating fundamentals while the full weight of the...

Lessons From a Failed Prediction

It’s a matter of time. 25 years ago, a book was published titled DOW 40,000 written by David Elias. This is no different from the many other books...

A Century of Mutual Funds

​March 21, 2024, marked a milestone in the investment management industry. It has been 100 years since the first mutual fund was created! The fund...

Economic Alchemy

The medieval quest for gold led to the practice of alchemy. Alchemy was the study to transform regular metals into gold. Mastering the...

John McCarthy Market Insights

Market InsightsThe Investment Insights newsletter is our attempt to provide perspective on the economy, markets, and general investments.  Who We...

U.S Debt: Decades in the Making

Time to talk about the 800-pound gorilla. Not the powerful primates that are the subject of a number of Hollywood movies. I’m talking about the...

Market Insights

Market InsightsBonds finished 2023 on a strong note, in need of a breather as 2024 commences. Yet the current environment may be signaling caution...

High-Yield Bonds: Spreads and Signals

Bonds finished 2023 on a strong note, in need of a breather as 2024 commences. Yet the current environment may be signaling caution ahead,...