January – 2016 Newsletter

We believed 2015 was kind of a bumpy ride for markets, but it looks like 2016 might be even rougher! Financial markets in China were roiled earlier this month and the Hang Seng, Shanghai and Shenzhen finished the month down -10.2%, -22.6%, and -26.8%. This massive sell-off, which caused several days of circuit breakers to shut down their markets, has affected global markets more in sympathy than due to a direct relationship. At the risk of over simplifying a complex system, we’ll state the Communist government (China, not ours) only allows foreigners to own about 1.5% of all shares in their markets. So a direct relationship probably isn’t too material, but if their economic growth really is slowing, which we believe it is, then there will be a ripple effect on the countries that sell to China. This will especially be the case for commodity sellers, and this does have a direct relationship to many industrial countries, including the U.S.

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December Monthly Newsletter

December – 2019 Newsletter

November – 2019 Newsletter

November Monthly Newsletter