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26

December

Per Stirling Capital Outlook – December 2016

01 Per Stirling Capital Outlook - December 2017

In his 1936 book entitled The General Theory of Employment, Interest and Money, economics pioneer John Maynard Keynes introduced the concept of “animal spirits” into the analysis of how the owners and managers of companies make business decisions and how investors make investment decisions. His premise was that strong company and/or macroeconomic fundamentals (earnings, interest […]

24

August

06

July

Per Stirling Capital Outlook – July 2016

Per Stirling Capital Outlook July 2016 - 01

We have noted on many occasions within the confines of these reports that capital markets thrive on certainty and struggle mightily when confronted with uncertainty, because investors know how to properly price securities when they understand the perceived risks and potential rewards associated with any given market environment, but tend to price in the perceived […]

21

June

Per Stirling Capital Outlook – June 2016

Per Stirling Capital Outlook June 2016 - 01

We open this writing with a 1912 photograph of a man crash-testing a football helmet not only in recognition of the fact that the long-awaited start of football season is finally approaching, but also because there is probably great similarity between how this product tester felt 104 years ago and how most global equity investors […]

25

May

Per Stirling Capital Outlook – May 2016

01 Per Stirling Capital Outlook - May 2016

1930s actress Mae West famously said that “too much of a good thing can be wonderful!” Increasingly, the capital markets are starting to disagree with that perspective, as we seem to be transitioning from a “bad news is good news” market, where weak economic news and geopolitical risk was treated as bullish, because it kept […]

17

February

Per Stirling Capital Outlook – February 2016

01 Per Stirling Capital Outlook Feb 2016

It seems like, all of a sudden, television and print media are full of stories about how the “stock market” may be entering into a “bear market,” and each respective reporter references one of the two most popular benchmark indexes (the Standard and Poor’s 500 Index and the NASDAQ Composite), neither of which has yet […]


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