Commentary

Rethinking Luxury During the Pandemic

Many reports now say that the uber-wealthy have pulled back their spending on non-essential goods and services due to the coronavirus. But that doesn’t mean they’ve cut spending entirely.

Commentary

Precious Metals Were the Winners in H1 2020… And It Wasn’t Even Close

Precious metals were the big winners for the first six months of 2020. Spot gold took the first place position, rising over 17 percent, followed in second place by silver, up nearly 2 percent. Palladium rounded out the top three, essentially flat at negative 10 basis points.

Commentary

American Exceptionalism Is Real

American ingenuity is something to take pride in this weekend as we (safely) celebrate the Fourth of July.

Commentary

3 Charts on the State of the U.S. Airline, Restaurant and Hotel Industries

As you may have already heard, the European Union (EU) just released its list of 15 countries that are permitted to visit the 27-country bloc starting today, and the U.S. was not among them.

Commentary

This Could Be the “Perfect Storm” that Pushes Gold to a New Record High

A “perfect storm” of surging government debt levels, plunging real bond yields, rising coronavirus cases and deteriorating economic forecasts pushed the price of gold to an eight-year high this week, and some analysts now project the metal to top its all-time high within the next 12 months.

Commentary

What Is a Luxury Good?

We like to go a bit further with our definition and add that luxury goods are those for which demand has tended to grow faster than potential buyers’ disposable incomes. This contrasts with “necessities,” for which demand growth has been more in line with income growth over time.

Commentary

Are We Heading for a Second Wave of Lockdowns?

Coronavirus cases and hospitalizations are spiking again in several countries, including the U.S. California had its biggest one-day jump in infections. Arizona, Florida and Texas are also turning into new hotspots.

Commentary

Record Spending and Money-Printing Puts Markets in Uncharted Waters

Back in March, I predicted that the total U.S. economic response to the COVID-19 crisis would be at least $10 trillion.

Commentary

The Math Is on Investors’ Side

The selloff this week was “perfectly normal,” according to the math. Find out why it makes sense to have a long-term investment horizon.

Commentary

Why We're Overweighting Renewable Energy

It may not feel like it, but West Texas Intermediate (WTI) oil just posted its best month on record. The American benchmark for crude soared more than 88 percent in May, from $18.84 per barrel to $35.50, as businesses cautiously began to reopen and people returned to work following the coronavirus lockdown.

Commentary

Airline Stocks Just Posted Their Best Week on Record

Warren Buffett “should have kept airline stocks because the airline stocks went through the roof today,” President Trump said this week. It’s a good thing that investors chose not to follow Buffett’s lead, as airline stocks are up 50% since his exit.

Commentary

Emerging Technologies to Drive Silver Demand

The price of silver soared in May, jumping more than 19 percent on safe haven demand as well as increased expectations of a swift economic recovery, given its many applications.

Commentary

Wheels Up! Economic Recovery Could Be Faster Than Expected

As troubling as these developments are, it’s important not to lose sight of the good that appears to be taking place right now. Investors that focus only on the negative tend to miss out on the opportunities.

Commentary

Growth Is Crushing Value Right Now, but Remember to Take a Long-Term Horizon

Investors are betting on growth stocks over value stocks by a wider spread right now than at any other time since at least 1990, including during the tech bubble.

Commentary

You Can't Just Print More Gold

Against this backdrop of anything-goes spending, the idea of having a national currency backed by a real asset like gold seems less and less crazy to some. Doing so, it’s believed, would force lawmakers to practice fiscal discipline, reign in inflation and normalize international trade.