Summary The introduction of Bitcoin spot ETFs on Jan. 11 added a new class of products for investors looking for exposure to Bitcoin. We recommend that holders of existing Bitcoin ETFs (GBTC and BITO) consider selling their positions. Most investors should move to iShares or Fidelity ETFs, with Bitwise also being a reasonable alternative. Bitcoin ETFs Read More
Fourth Quarter Stock Market Rally?
2023 has been a challenging year for investors thus far due to conflicting data surrounding the health of the US economy. Many expected a new bull market following the simultaneous bear market in stocks and bonds in 2022. However, the data underlying the year-to-date stock market advance tells a different story. Historically leading up to Read More
From the Trading Desk: New and Uncertain Times
In my previous post, I discussed the S&P 500 Index (SPX) and the potential that a new bull market may have commenced beginning June 7th. June and July were good months for stocks with the SPX finishing up 3.11% in July and the NASDAQ Composite closing July up over 4%. August has been an altogether Read More
From the Trading Desk: A New Bull Market?
Stocks ended the trading day higher on Thursday June 7th, and according to mainstream media the S&P 500 index has officially entered a new bull market. The Federal Reserve began their hiking campaign over a year ago on March 16th, 2022, to tame inflation. Over the past year, the Fed has hiked interest rates by Read More
The Debt Ceiling, Technical Default & How to Plan for it
Over the past two decades, raising the US debt ceiling to borrow the funds necessary to pay for programs Congress has already approved and appropriated has become more politicized. The brinkmanship threatens the debt rating of the US Government and investors have taken notice. Two days ago, Fitch ratings placed US Government debt on negative Read More