Trading Places This week in 1983, the hit film Trading Places was released in theaters. Forty years later, financial markets may be preparing for [...]

“May you live in interesting times” is said to be an ancient Chinese curse. HAI doesn’t know about Chinese curses, but is certain that these [...]

The “Unpleasant” Tsunami This week, market action was primarily dominated by two factors: the developing “baby-bubble” in generative [...]

Thanks to All Our Clients! The MWM team members would like to express our gratitude to the clients who joined us this past Thursday for the Q1 2023 [...]

Into the Storm After another week of data, news, and market moves, the bottom line for markets and the economy is unchanged. In HAI’s view, markets [...]

Precious Truth Our modern-market circus kicked off this week with the second largest bank failure in US history as First Republic Bank went bust. The [...]

Crisis is a Process The market narrative this week was split between stagflation, as economic growth slows but elevated inflation signals remain far [...]

Author Nassim Taleb accurately observed that, “experience in finance with a discount rate near zero is like having studied physics except without [...]

Famed Austrian economist Ludwig Von Mises warned that the Keynesian means of delivering “apparent prosperity” was inherently unsustainable. The [...]

Seat Belts Fastened; a Hard Landing Seems Likely Given the long holiday weekend and travel plans this week, HAI will merely offer weekly prices and a [...]

Return-Free Risk vs. the Economic Truth With the final March tally now in the books, the S&P 500 was up 3.51%, the 10-year US Treasury note [...]

Essentially Broken This week, the regional banking crisis in the US took a back seat to emerging troubles at major European banks. Adding to the [...]