This commentary is dedicated to a longtime friend and industry icon, Dennis Gartman. The idea for it started with an email I received from Doug Kass. He recited respectful praise for Dennis, and I fully agree with that sentiment.

Buoyed by what appears to be a continued moderation in PCE inflation based upon data for November, the FOMC moderated slightly the pace of policy tightening of its target range for the federal funds rate.

The Swiss Re Group, one of the world’s largest reinsurers, reported on December 1 that, this year through November, worldwide disasters, natural and man-made, caused economic damage of $268 billion, of which $122 billion was insured. Note that the damage is more than double the insured…

ESG Part 6: A Conversation on Corporate Governance/ESG at Rowan University  

Linked below is our Cumberland Advisors’ Friday, December 9, 2022 Week in Review, an end-of-week update on market conditions, equities & bonds with Matt C. McAleer, Executive Vice President & Director of Equity Strategies.

The debate continues daily over the Fed’s future policy. My expectation is a 50-basis-point hike in a few days and another one early next year. My best guess is still a 5% terminal rate, but evidence may take that number higher. In my opinion, it is doubtful that there will be any near-term data…

The more we learn about cryptocurrencies, it seems, the less we know. For example, we last reported that there were about 9,000 cryptocurrencies in 2021.

November saw strong advances in Chinese stocks, particularly in the final week. The US-listed SPDR S&P China ETF, GXC, for example, advanced 23.5% on a total-return basis. This advance comes in what has been a very bad year for Chinese stocks.

We see more and more payment liabilities revealed as the FTX affair unfolds. Successive bankruptcies make headlines. Lawsuits originate against sports personalities and celebrities who garnered fees for advertising themselves as endorsers or supporters within the crypto space.

Dear Clients & Friends,