Narrow Market Leadership Influenced Last Year’s Return

Narwhal Capital Management’s fourth quarter newsletter is currently on its way to clients. We’ll post it here in full after clients have had a chance to read and ask questions. In the meantime,┬áhere’s an excerpt. 2015 was an odd year for stocks....

Bounce Back?

No real analysis here, but a quick observation… After tumbling as low as 1,812.29 on Wednesday morning, the S&P 500 has rallied as much as 5.32% as of Friday afternoon. On a short trading week (reminder: the market was closed on Monday), the market is...

Financial Markets: Who and What Should You Listen To?

Oaktree Capital’s Howard Marks released a memo to clients earlier this week, and though efficiently packed with countless bits of wisdom and intriguing perspective, two separate thoughts stood out. First, was a comment Marks made in a previous newsletter (and...

Quick Perspective on the S&P 500 Tumble

The S&P 500 closed today at 1,890.25. Against a 12/31/2015 close of 2,043.94 this represents a decline of more than 7.5% But some quick-hitting context might be of value here… As a function of days, this is the lowest market close since September 29, 2015....