Trading Places This week in 1983, the hit film Trading Places was released in theaters. Forty years later, financial markets may be preparing for some trading [...]
“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 are [...]
The “Unpleasant” Tsunami This week, market action was primarily dominated by two factors: the developing “baby-bubble” in generative artificial [...]
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 MAPS client [...]
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 and the [...]
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 seismic [...]
Crisis is a Process The market narrative this week was split between stagflation, as economic growth slows but elevated inflation signals remain far stickier [...]
Author Nassim Taleb accurately observed that, “experience in finance with a discount rate near zero is like having studied physics except without gravity.” [...]
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 few very [...]
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 gained 3.37%, [...]
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 existing [...]
