Market Commentary


Wildfires Abound

Author: Patricia Healy, CFA, Post Date: December 22, 2017
Cumberland Advisors Market Commentary by Patricia Healy, CFA

Natural disasters appear to be on track for a record year. Numerous wildfires in the West and back-to-back hurricanes in the Southeast raise questions about how the affected areas will fare in terms of people and businesses remaining in the area, the continuance of federal aid, and the availability of flood and wildfire insurance. The […]

Market Volatility ETF Portfolio, 4Q 2017 Review: Will the Bull Market Continue?

Author: Leo Chen, Ph.D., Post Date:
Cumberland Advisors Market Commentary - Leo Chen, Ph.D.

With the Dow Jones Industrial Average approaching 25,000, the S&P 500 touching 2,700, and the tech-heavy Nasdaq Composite topping 7,000, our quantitative strategy has once again harvested considerable quarterly gains. The US stock market is likely to have its second-best year since the financial crisis. While the Dow has touched a new all-time high one […]

The (Im)Prudent Man Rule

Author: Gabriel Hament, Post Date: December 20, 2017
Gabriel Hament, Foundations and Charitable Accounts, Cumberland Advisors

The question of what investments are suitable for funds held in trust for the benefit of private persons or corporations is a topic that has engaged the legal and financial communities for centuries. In the United States, the legal framework defining the manner in which funds held in trust for a finite period or in […]

4Q2017 Review: Looking Forward

Author: Robert Eisenbeis, Ph.D., Post Date: December 19, 2017
Cumberland Advisors Market Commentary by Robert Eisenbeis, Ph.D.

The FOMC delivered on the expected 25-basis-point increase in its target range for the federal funds rate and has penciled in three more rate hikes for 2018. Of course, all of this future activity is “data-dependent.” How likely is it that the data will justify those three rate hikes, and what could go wrong? First, […]

Cuba and the Caribbean: What Now?

Author: David R. Kotok, Post Date:
USF & Cumberland Advisors explore Cuba policies

Recent changes in US policies toward Cuba have reinvigorated debate over US-Cuba relations. How will these revised policies affect American business, trade, and travel, as well as the well-being of the Cuban people? What does the future hold? Please join GIC, the University of South Florida Sarasota-Manatee, the Federal Reserve Bank of Atlanta, and our panels of leading experts as we discuss the state of US-Cuba relations and the outlook going forward on Monday, September 11, 2017 in Sarasota, FL.

The Muni Take on the Tax Bill (Round Two)

Author: John R. Mousseau, CFA, Post Date: December 18, 2017
Market Commentary - John Mousseau

The most recent tax-reform agreement between the US House of Representatives and US Senate is less hurtful to municipal bonds than initially expected. Here are some points. Private Activity Bonds (PABs) – These are bonds issued to finance nonprofit hospitals, airports, state housing agencies, charter schools, and private colleges and universities. Under the original House […]

Christopher Whalen Interview: Bob Eisenbeis on Seeking Normal at the Fed

Author: David R. Kotok, Post Date: December 15, 2017
Cumberland Advisors' Bob Eisenbeis

Our chief monetary economist, Bob Eisenbeis discussed the Fed with Chris Whalen this week. Below, we reproduce the entire interview courtesy of Chris and The Institutional Risk Analyst. David R. Kotok Chairman and Chief Investment Officer Email | Bio In this issue of The Institutional Risk Analyst, let’s first ponder last week’s revelations that the […]


Author: David R. Kotok, Post Date: December 14, 2017
Cumberland Advisors Market Commentary by David Kotok

The last quarter of 2017 revealed continued bullish momentum in the US stock market and ongoing increases in earnings of US public companies. Through the middle of December, the market made progressive new index highs. Rotation among sectors finally took some steam from the “FAANMG” stocks. Notwithstanding the high price levels, we expect stocks to […]

Shrinkage Tantrum-2 & Hillsdale

Author: David R. Kotok, Post Date: December 5, 2017
Cumberland Advisors Market Commentary by David Kotok

We thank readers for their thoughtful comments regarding our discussion entitled “Tax Bill & Shrinkage Tantrum.” For those who may have missed it, here is the link: One astute reader called our attention to the internal workings of the Senate via a link to a Politico story about Hillsdale College in Michigan. Here is […]

Tax Bill & Shrinkage Tantrum

Author: David R. Kotok, Post Date: December 2, 2017
Cumberland Advisors Market Commentary by David Kotok

The Congressional Budget Office (CBO) scoring of the tax bill was released at 8:49 PM on Friday night, and this link will take you to it: The title of this one-page document is a mouthful: “Summary of the Deficit Effects of a Bill to Provide for Reconciliation Pursuant to the Concurrent Resolution on the […]

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For a list of all equity recommendations for the past year, please contact Timothy J. Lyle at 800-257-7013, ext. 350. It is not our intention to state or imply in any manner that past results and profitability is an indication of future performance. All material presented is compiled from sources believed to be reliable. However, accuracy cannot be guaranteed.