In the wake of the turmoil in Washington, DC, over his performance in Helsinki, President Trump also took a sideswipe at the Federal Reserve, criticizing the FOMC’s recent efforts to normalize policy.
Most presidents – though not all – have understood that Fed independence ensures separation from the Treasury and serves as a check on fiscal excesses. When a central bank takes orders from the fiscal side of government, history shows that inflation and economic decline soon follow.
Fundstrat Daily reports that “YTD, the crypto market is down -60.7%” as of July 2. We have been asked again about Bitcoin and “bubbles” following the recent gyrations and the plunge. “Should I buy it?” asked a reader. First, we offer the required disclosure: We don’t own any cryptocurrency in any Cumberland managed account. And […]
Excerpt below: In the wake of this week’s crash, the top post in the Reddit forum /r/CryptoCurrency was about how to contact a suicide hotline, apparently a response to distress on the part of recent investors. Some economists say this is a familiar pattern. “Twenty years ago, the technology stocks and new Internet stocks achieved an excess […]
An expert on one of the world’s suddenly hot, but still mystifying, investments is the scheduled luncheon speaker at the Kiwanis Club of Longboat Key’s Jan. 18 meeting at Portofino Restaurant at the Longboat Key Club. David Kotok, chairman and chief investment officer of Sarasota based Cumberland Advisors, will discuss Bitcoin, Blockchain and other financial […]
BITCOIN is as tangible as a chocolate coin a top investor has warned in a hilarious quip about the cryptocurrency. Appearing on Bloomberg, Mr Kotok offered the hosts a “New Year’s gift” – a chocolate coin shaped like a bitcoin. Handing out the sweet treat, he said: “I brought proof that bitcoin can be […]
Ben White had this to say about Fed appointments last week in his Politico “Morning Money” column: “FED TALK – Look for the vice chair nomination to come fairly soon. Mohamed El-Erian remains in the mix but could also be a candidate for the New York Fed. John Taylor sounds like a no-go for vice […]
At 74, Cumberland Advisors’ David Kotok has guided wealthy clients through a long career’s worth of bubbles and crashes. Now he’s being inundated with questions about the latest soaring asset to confound investors — bitcoin. “Clients bring up bitcoin all the time,” said Kotok. “They think it’s cool. It has the newness, which is attractive […]
Following up on our recent commentary, and with permission, we continue to quote the excellent work of Nick Colas and Jessica Rabe of DataTrek Research. We encourage readers to give their newly launched service a try. Their website is http://datatrekresearch.com/. In this segment, Nick focuses on the question “Are cryptocurrencies an asset class?” “Over my […]
Readers have seen us previously comment on the developing Bitcoin-crypto phenomenon. And our clients know that we are not investing in crypto today but are watching this carefully. Our clients also know we have a position in a gold-miner ETF. Our email from clients, media, and readers has the Bitcoin versus gold argument and the […]