Cumberland Advisors Week in Review (Nov 18, 2019 – Nov 22, 2019)

Author: Cumberland Advisors, Post Date: November 23, 2019

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.

Week In Review

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.


As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.

We have Matt McAleer on camera this week to discuss our Quant work and indicators and the four Cumberland Advisors strategies that are involved with them. He talks about:

-Where our Quant Strategy started with Leo Chen Ph.D.
-What are “buy” signals in our Quant work?
-What are “sell” or “exit” signals in our Quant work?
-Matt outlines what sectors we’re in in response to our Quant work

Thanks for taking the time to join us!

Watch and comment online at:

Matt enjoys your feedback. You can reach him at:
-Link to Matt’s Email:
-Link to Matt’s Twitter:
-Link to Matt’s LinkedIn:
-Call Matt: (800) 257-7013

Or email us at or give us a call at (800) 257-7013

Cumberland Advisors in the Community

Patricia Healy, CFA (on the right) is pictured with Sara Hand of Spark Growth, TiE Tampa Bay Conference Program Chair, along with USF Sarasota-Manatee’s Dr. Greg Smogard, their innovation and business development officer.

Cumberland Advisors’ Patricia Healy, CFA and Norman Dempsey, MBA, attended the Indus Entrepreneurs (TiE) “Talk” in celebration of Global Entrepreneurship Week. The event was titled, “Funding Continuum and Landscape for Startups” and was held at the USF Sarasota-Manatee campus.

Patricia Healy (on the right) is pictured with Sara Hand of Spark Growth, TiE Tampa Bay Conference Program Chair, along with USF Sarasota-Manatee’s Dr. Greg Smogard, their innovation and business development officer.

Cumberland Advisors’ team members enjoy interacting within the communities in which we live, work and play whether it be chambers of commerce, museums, educational institutions, non-profits, or others. Watch for more collaboration with USF including Cumberland Advisors’ “Fourth Annual Financial Literacy Day: Understanding Global Markets and Finance” coming February 2020. We hope to see you around town!

Worried About a Bear Market? Bonds Pose More Danger Than Stocks.

Cumberland Advisors John MousseauBarron’s excerpt: Municipal Bonds could provide some protection against higher taxes should Elizabeth Warren become the next president. That’s the view of John R. Mousseau, president, CEO, and director of fixed income at Cumberland Advisors.

Read more:

Bloomberg Daybreak: Australia with David R. Kotok on Trade and China (Video)

Bloomberg Daybreak Australia - David Kotok talks Trade & China

David Kotok joins Bloomberg Daybreak: Australia to discuss the US-China trade relationship.

“Our view is, a full trade arrangement with China has eluded us; it’s gone. Businesses are now making decisions about location around the world. They’re changing what they’re doing. The United States is now collecting a sales tax on Americans, masquerading as a tariff. And the amount in the tariff is now paying approximately 1/4 of the interest bill on American borrowings and we have a rising deficit. And you hear the president say we’re collecting all this money. Well we are collecting it. Americans are paying it. And we see it in changes in prices. A washing machine costs 10 or 12 percent more than it did before the tariffs. So this is an unfolding story. I’m not sanguine about it and I believe markets are adjusting to the fact that this is a more permanent space. Which means pricing is different, location of businesses are different.”

Watch David’s full interview online at the Bloomberg website. He starts around the 12:30 minute mark:

BondBuyer – Lower tuition rates may mean more downgrades in FY 2020


Excerpt from The Bond Buyer
By Sarah Wynn
Nov 18, 2019

Some analysts have decided to stick with highly rated bonds in the higher education sector.

“The higher education area, depending on if it’s public or private has seen some declines (in enrollment) over the years, especially in the private colleges,” said Patricia Healy, senior vice president of research and portfolio manager at Cumberland Advisors. Private universities have seen more downgrades than public universities, Healy later added.

Healy said Cumberland looks for double-A and higher single A-rated bonds because high-quality bonds tend to be more liquid and the firm tends to take a more active strategy.

Healy said her firm stopped investing in many private colleges years ago due to the continuing decline in enrollment. Healy said a decline in enrollment can be a reflection of a good economy because people are going directly into the workforce.


Yahoo Finance Highlight: David Kotok discusses Macy’s, Target earnings & retail divide

CA-David-Kotok-Yahoo-Finance-Retail discussion

Watch the video at this link:

The MoneyShow Orlando 2020

John Mousseau at the Money Show Orlando

John R. Mousseau, CFA, will be joining a large gathering of members of Wall Street’s financial community in Orlando this winter season for The MoneyShow Orlando 2020. The three days of the conference will focus on new investment ideas that address the current economic and geopolitical environment and will feature tools, strategies, and advice which may help you better position your portfolio.

John will be a featured speaker, giving a review of the bond market in the past year (2019) and what we should expect from the bond market in a presidential election year.

To join John in February 2020 or learn more, please visit:

Cumberland Advisors Market Commentary – Overshadowed?

Author: Robert Eisenbeis, Ph.D., Post Date: November 19, 2019
Federal Reserve - FOMC
Public attention this past week was riveted on the impeachment testimony before the House Intelligence Committee, which totally overshadowed Chairman Powell’s semiannual report and two days of testimony to Congress on monetary policy. That outcome is probably not a bad one, since there were no new insights provided nor any clues as to when or […]


Cumberland Advisors Market Commentary – The Warren Hedge

Author: John R. Mousseau, CFA, Post Date: November 20, 2019

Market Commentary - Cumberland Advisors - The Warren Hedge (John Mousseau)In the past few weeks Senator Elizabeth Warren has risen to be neck and neck with Joe Biden in most of the national polls for the Democratic nomination. In some of the electronic betting polls, though, Warren is ahead of Biden by 5–6 points, depending on the day. Warren has promised higher taxes, which would […]


Cumberland Advisors Market Commentary – Trade War and No Recession

Author: David R. Kotok, Post Date: November 18, 2019

Stop Digging

The United States has gotten itself into a trade war negotiations mess. (See “How Trump’s Trade War Went From Method to Madness,” There is an old adage: “When you’re in a hole and it’s getting deeper, stop digging!” Trump and Co. know they’re in a mess but don’t know how to stop digging, so they have […]


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Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.

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