Catch up on Manward’s latest goings-on – all in one convenient, easy-to-digest Bulletin.

There are two fairy tales in the markets right now. One is that the Fed will cut the federal funds rate at least three times in 2024, thereby making the economy not too cold and not too hot. The other is that 2024 is going to look a lot like 2023. Both of these stories […]

The overwhelming consensus is that rate cuts are coming in 2024. Marc Lichtenfeld is not so convinced.

It’s a tale of woe… and a warning. And in the end… you won’t want to take a bite of this apple. At the end of June 2023, Apple (AAPL) made history as the first company ever to be valued at $3 trillion when its stock price closed above $193.42 for the first time. But […]

While ChatGPT, Bard and a host of other AI names and labels overwhelmed us in 2023, a new banner will command our attention this year. AI nationalism. With the AI frontier currently resembling a war zone, the U.S., China, South Korea, Brazil, Singapore, the European Union, multiple Middle Eastern countries, Australia and others are vying […]

One of the most important things I’ve learned in my 40 years of studying and investing in the markets is that you always need to look at the big picture. And the big picture is the company, not the stock. A stock is the manifestation of investors’ and traders’ understanding and assumptions about what the […]

What a difference a year makes. After a painful knockdown in 2022, hardly anyone expected 2023 to be a comeback year for equity investors. But it was. And 2024’s going to be even better. Bonds suffered in 2022 thanks to the Fed’s miscalculation of inflation. Then incessant rate hiking hit stocks hard. The S&P 500 […]

After a solid 24% ride in 2023… there are two big reasons we could see another 20% ride in 2024.

We’re in a spectacular bond market rally. It just knocked the yield on benchmark U.S. 10-year Treasurys down from 5.021% to 3.95%. And this week, markets celebrated the news that the Fed is looking to lower interest rates next year. But it’s much too little, much too late to save the commercial property loan market. […]

Investors who play it smart will make a lot of money.