March 14, 2020

Good Afternoon:

Per the note from Monday (below)...Thursday brought the real panic in "safe assets" like bonds, preferreds, real estate and Gold.

The pace of the recent stock market declines rivals the1987 crash...and we are now seeing how th...

March 9, 2020

Good Morning:

We are seeing a rapid re-pricing of risk assets over the past 3+ weeks.  Quick notes:

1.  This is not a 2008 systematic meltdown.

2.  Computer algorithms now run markets - therefore it will hurt all listed and exchange traded securiti...

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