Two measures of valuation for US equities are off the charts. Price to Sales and Enterprise Value to EBITDA. And according to consensus estimates, corporate profits likely dropped in Q4, dragging down annual earnings growth to the smallest in three years. A lot of investors
The added geopolitical tensions in the Middle East add yet another reason to keep gold exposure in your portfolio in 2020. As we listen to the gaggle of former central bankers in recent months now admitting that monetary policy is less effective and can’t do
The tradition on Berman’s Call has been for me to use my last show of the year to forecast what I expect for the coming year and address any mea culpa for bad Berman Calls in 2019. I got the volatility outlook for 2019 all
What inspired this week’s topic was in part what I saw at the hotel I was staying at in Nanaimo, BC. Biodegradable cutlery made from plant starch!!! The other thing is that I spent the week in the beautiful sea and sky views of BC
When Ray Dalio, founder of Bridgewater, the largest hedge fund in the world, buys put protection on the S&P 500, people should pay attention. It was all over the business news media late last week. I’ve said for years that BNN viewers should read everything
When evaluating investment opportunities, I always look at both potential return of being right and risk of being wrong. Far too many people only consider the upside and not the downside. While gold bullion is not technically fixed-income in that it does not pay a
When money comes out of equity markets it typically goes into (the relative safety) of fixed-income markets. The flight to safety (historically) is generally into G7 debt markets and the strongest and larger economies of the US, Germany, and Japan. Switzerland, not an official G-20
It’s not a surprise that I have been in the camp where traditional energy demand would be replaced by low carbon alternatives over time. The vast majority of people believe that we should do something about climate change (me too!!!). So longer-term, the energy sector
We are about 1 year from the 2020 US election. From our view, the market is so focused on US-China trade, it cannot see the forest through the trees. A regime change in the US could have massive market implications that are nowhere near priced
A minority government scenario appears most likely. It’s too close to call according to most polls. The combination of a minority government is also unclear. Markets do not like uncertainty and uncertainty is the most likely outcome. My expectation is in line with that of