Posts by Todd Hurlbut - CIO

I was reminded of this question earlier in the week when Jamie Dimon, the CEO of JP Morgan Chase, announced that the value of bitcoin is going to zero. Investors take notice when the CEO of the largest bank in the United States makes a prediction concerning the future value of an asset.  Bitcoin / Read More

With the recent bout of devastating weather events including drought, frost, fires, flooding and heat, we are reminded of the potential for more frequent and extreme climate variability in the years ahead.  Market dislocations due to weather have the potential to occur more frequently and more severely, impacting food prices around the globe. While much attention Read More

Here in the summer months, markets have reacted negatively to the global increase in cases of the Delta variant and the challenges in getting larger swaths of the US population vaccinated against the virus. The market sold off swiftly last week only to recover the losses over the last few days. Newspaper headlines couldn’t resist Read More

Behavioral economics has taken on greater importance by investors in recent years but has been an edge exploited by systematic investors for decades. The founders of behavioral economic theory, Daniel Kahneman and Amos Tversky, identified biases we all possess as part of the human condition. We are often asked for examples of such biases. One Read More

One day history will be written surrounding the pandemic and the financial markets, for now, the story is still unfolding. A recent Wall Street Journal article reminded me that not all is rosy despite the all-time highs in the markets today. Many of those affected by the pandemic have given up getting rich in the markets and Read More