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When looking at equity risk premium, as measured using the S&P 500 level, gross corporate output, and the six-month T-bill, stocks have rarely looked worse. U.S. treasuries, on a relative basis, have rarely looked better.

Do you see another incidence in the last 70 years when the unemployment rate rose 14% year-over-year that wasn't associated with recession?

How does the Hindenburg help us gain insight into the current condition of the stock market? We explain here ════➤ cadencewm.com/blog/market-to…

NVDA. No amount of revenue or earnings beat can justify 55x book value and 38x revenue. The company is clearly experiencing tremendous success and will probably continue to. Whether the stock will, from these almost unprecedented lofty levels, is much less likely.

Let's discuss which investment categories have been winning and losing so far this year, as well as our overall assessment of what the heck’s going on in financial markets. We also talk about our approach to navigating the unruly bond market 🢂cadencewm.com/wp-content/upl…

This morning's mixed employment reports are noise - designed to confuse. The bigger picture of year over year trends in total employment and full-time employment remains bleak. Both consistent with past recessions. Invest accordingly.

What on earth is going on in financial markets? Check out our overall assessment as well as which investment categories have been winning and losing so far this year. ⮞cadencewm.com/blog/market-up…

When the yield curve rises out of inversion, gold and treasuries have performed well and stocks, poorly. Put differently, getting to a broken, inverted yield position is supportive of stocks, whereas getting back to a normal, healthy yield curve typically requires some payback.

This month, we do what most other big Wall Street firms wouldn’t do – talk about how the election cycle shouldn’t drive your investment decisions, and how you SHOULD pay attention to the risk currently embedded in financial markets. ➥cadencewm.com/wp-content/upl…

June durable goods new orders down -10.3% year over year. Not robust.

Let's talk about how we as humans have a tendency toward blissful ignorance, and how that tendency has created market extremes that we, as investors, really shouldn’t be ignorant about. ╰┈➤cadencewm.com/wp-content/upl…

There is no such thing as a “market” crystal ball, but if we were to pick one tool from our “market conditions toolbox” to give us a sense of potentially imminent risk present in the stock market and broader financial system, it would be this one: cadencewm.com/blog/market-ri….

Let's tackle some questions we’ve been getting from clients lately. There’s a good chance that one or more of them are the same questions you’ve been pondering. If not, and you have a pressing one, don’t hesitate to reach out. ➜cadencewm.com/wp-content/upl…

Let's take a look at one of the client questions from our latest edition of "Ask Cadence." Is there anything on your mind that you'd like to ask us? Feel free to share, and we'll do our best to provide you with a helpful answer. ➥cadencewm.com/blog/ask-caden…

Please dig in to this month’s Cadence Clips to learn about the potential perils of index investing, as well as for a refresher on our 30,000ft view of markets today and how to navigate what’s certain to be continued choppy water. Thanks for reading! ╰┈➤cadencewm.com/wp-content/upl…

On September 27, the Bureau of Economic Analysis made revisions to Personal income statistics totaling more than $700B dating back to the beginning of 2022. This is enough to completely arrest the prior decline in many indicators in which income is a component. Voila.

Wondering how geopolitics can impact markets? Our latest blog post answers this question ➤cadencewm.com/blog/ask-caden…

Reminder: Declining inflation doesn't mean declining prices.

Reminder: Total private sector hires have been negative for two years. This reflects an economy that is slowing and not overly abundant in opportunity. Most sense this intuitively and empirically. Where we go from here is a fair question.

Because even the winter migration of birds is being politicized this month, the focus of this edition of Cadence Clips is on defending you from disorienting narratives that could knock you off track financially (and otherwise). ╰┈➤cadencewm.com/wp-content/upl…