Q3 2015 Market & Investment Review

Q3 2015 Market & Investment Review

  • Posted on: 9 December 2015
  • By: admin

Stock prices in markets around the world fluctuated dramatically for the week ended August 27. On Monday, August 24, the Dow Jones Industrial Average fell 1,089 points—a larger loss than the “Flash Crash” in May 2010—before rallying to close down 588. Prices fell further on Tuesday before recovering sharply on Wednesday, Thursday, and Friday.   

To view a video review of the report highlights by M.J. Nodilo, Pathlight Investors President, click the video below.

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Pathlight Insights - Greek Default

Pathlight Insights - Greek Default

  • Posted on: 9 December 2015
  • By: admin

Slower Growth?  Higher Rates?

After almost three years of staying out of the headlines, the focus again has turned to Greece and their potential debt default.  In fact this week, Greece closed banks and limited withdrawals from ATMs to only 60 Euro per day.

When you couple this with underwhelming economic growth and the potential for a Fed Rate hike, macroeconomic concerns are now driving markets, thus increasing volatility....
 

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Q1 2015 Market & Investment Review

Q1 2015 Market & Investment Review

  • Posted on: 9 December 2015
  • By: admin

The natural progression of seasons changing moves investors into spring with the hope of blossoming returns.  However, in looking back at what winter brought there were several real noteworthy items that are important to review.  I say real because these issues have true economic and investment implications, unlike prior media-hyped events such as ebola, missing airliners, and a Greece debt default.

To view a video review of the report highlights by M.J. Nodilo, Pathlight Investors President, click the video below.

To download a copy of the full report,  click here.

Youtuve: 

The Road Ahead: 2015 Outlook

The Road Ahead: 2015 Outlook

  • Posted on: 9 December 2015
  • By: admin

 

The following is an excerpt from our article: The Road Ahead: 2015 Outlook, which can be found HERE

What does one say when it has all been said before? That is the seminal question facing us as we write our 2015 Outlook. This piece will be the sixth we have penned since opening Pathlight Investors in 2009, and every year since then feels like, not a total repeat, but eerily similar to the last. Sure, the names have changed—well more like come, gone, and resurfaced, but the overarching themes have remained constant since the March 2009 lows.

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Looking Back: 2014 Year in Review

Looking Back: 2014 Year in Review

  • Posted on: 9 December 2015
  • By: admin

The following is an excerpt from our article: Looking Back: 2014 Year in Review, which can be found HERE

 

In between talk about Ray Rice, Uber, and Social Media, investment markets were laser focused on Ebola, ISIS, and Russian invasions. Throw in chatter about a Eurozone breakup (for the sixth consecutive year), plunging oil prices, mid-term elections, a widening wealth gap, a disappearing middle class, Japanese recession, and slowing China, it could have been a very tough year for investors.

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Pathlight Investors’ Top Recommended Reads - January 2015

Pathlight Investors’ Top Recommended Reads - January 2015

  • Posted on: 9 December 2015
  • By: admin

Ready for some more great articles?  Here's our picks for January 2015:   
 
Crude exports – two US senators on Tues called on the Commerce Dept. to reconsider a recent move that would make it easier to export crude; the senators worry such a move could lead to higher domestic energy prices – Reuters     http://goo.gl/ZWu8UZ  

Obama’s State of the Union was anticlimactic as the White House had preannounced the speech’s major contents over the preceding days.  The main focus was on strengthening the middle class which Obama plans to do via a variety of new tax and education initiatives (to be paid for by higher capital gains taxes and elimination of the “trust fund loophole”).  The President expressed confidence in his anti-ISIS strategy and called on Congress to give him fresh authorization to combat extremists in the Middle East.  The full transcript can be seen here: http://goo.gl/4jyk5C.  Note that Republicans rejected many of Obama’s economic messages http://goo.gl/iZJCsi

 

US companies slashing jobs.  A slew of marque American companies, inc. EBAY, AXP, BHI, SLB, and others, have announced thousands of job cuts in the last few days.  FT    http://goo.gl/jJ5yBl  

 

Net neutrality – Republicans introduced legislation that would prevent broadband providers from blocking, slowing, or speeding access to specific website but would avoid imposing Title II regulation on the industry – WSJ    http://goo.gl/FVYkkZ  

 

Saudi Arabia – Saudi Arabia’s new king will prob. leave oil policy unchanged; according to the WSJ, the new leadership is likely to keep oil policy unchanged (http://goo.gl/zsHhqJ); CNBC discusses “why Saudi succession isn’t a big deal for oil” (http://goo.gl/c9Q0nJ); the new King will keep the main ministers in place (inc. oil and finance). 

 

China – the PBOC injected ~$8B into the banking system using short-term instruments it hasn’t used in a year.  The PBOC offered $8B in 7-day repos on Thurs, sparking speculation it may loosen policy further in the coming weeks.  The move comes after the PBOC on Wed said it would roll over 3-month loans of $43.5B and offered 50B yuan of medium-term loans to certain commercial banks.  WSJ  http://goo.gl/up9FtI

 

Ukraine violence worsens – the leader of separatist forces said he wouldn’t participate any longer in ceasefire talks and planned on pushing forward against Ukraine gov’t troops – WSJ   http://goo.gl/fuvIoA 

 

And On A Lighter Note…

 

Death by chocolate: a problem for bears in New Hampshire - http://goo.gl/O6DuVi

 

 

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Pathlight’s Five-Year Anniversary: What We’ve Learned

Pathlight’s Five-Year Anniversary: What We’ve Learned

  • Posted on: 9 December 2015
  • By: admin

The following is an excerpt from our article: Pathlight’s Five-Year Anniversary: What We’ve Learned, which can be found HERE

On November 18th, Pathlight proudly celebrates its five-year anniversary.  In looking back at what has transpired since that day, there is no doubt that a lot has been learned by the Team here both as business owners and investment managers.  During this introspection, I spent some time reviewing our Investment Outlook publication for years 2010-2013 in order to accurately recall this uniquely challenging investment world we continue to navigate.  In doing so, it is clear that I could fill an entire book with major concerns that have kept investors nervous and many in cash despite strong investment results for stocks, bonds, and real estate.  As such, I think it’s valuable to use Pathlight’s anniversary as an opportunity to review the concerns, the results and the lessons we have (hopefully) learned over the last five years. 

 
 

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