Perspectives

The Wall

First Quarter 2018

Each day Wall Street tallies the number and dollar value of investment securities traded on the financial exchanges. But what Wall Street is really good at is trading insecurities. “How many insecurities traded today?” From Election Day 2016 through the first few weeks of this year, the U.S. stock market displayed very little downside volatility. There were numerous “insecurities” traded along the way, but the market climbed the wall of worries and...

Fourth Quarter 2017

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Ring out the old, ring in the new. While we hope 2018 will ring in a “happy news year” as suggested in the following cartoon, investors would rather not ring out 2017’s rewarding return environment. The contrast last year between headline news and stock market news is fascinating and, for some, hard to reconcile...

Third Quarter 2017

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Over the past several months major U.S. stock market price indices have climbed to record highs. Yet this has been occurring even as North Korea’s “Rocket-Man” threatens the U.S. with nuclear weapons, the Federal Reserve (Fed) continues to raise short-term interest rates and...

Second Quarter 2017

Download PDF→ Capital Investment Services Second Quarter 2017 Perspective - Dual duel

A U.S. President (Andrew Jackson) once did it. Another almost did so (Abe Lincoln). A Vice President (Aaron Burr) and a Secretary of the Treasury (Alexander Hamilton) did it, and it cost the latter his life. (Hamilton’s son also did it and suffered the same grave outcome). Legislators did it as well …

First Quarter 2017

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The stock market is like an excitable dog on a very long leash darting randomly in every direction. At any one moment, there is no predicting which way the pooch will lurch. But ultimately the dog is following a path determined...

Fourth Quarter 2016

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Since the November elections, stock prices have risen while bond prices have slumped. Are these market moves simply the noise of short-term trading? Are they a head fake? Or are they signals of what lies ahead?

Third Quarter 2016

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Enjoy “who-dun-it?” mysteries? If so you have good company. Two of the longer running TV shows, CSI: Crime Scene Investigation and Forensic Files are who-dun-its. Adding to these shows’ intrigues are the fascinating forensic detection techniques that are used to uncover evidence crucial...

Second Quarter 2016

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“If you're not confused, you're not paying attention”, quipped business management guru Tom Peters some years back. While Peters’ words were intended to describe the dynamic business world, they also sure seem appropriate today given the current political, economic and investment scene...

First Quarter 2016

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In the early 1970s Seattle appeared to be in a world of hurt. Its double-digit unemployment was more than twice the national average. The Economist magazine called it the “City of despair” — “a vast pawnshop, with families selling everything to get money to buy food...

Fourth Quarter 2015

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Ring out the old, ring in the new. Ring out the false, ring in the true. If only it was as easy as turning to a new calendar to put the old and false behind. Instead, investors are greeted by a New Year with yet another bout of intensified fear, uncertainty and doubt resonating around these two aspects of the investment climate.

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A collection of our quarterly publication

The Wall

First Quarter 2018

Ring in the New (Experiments)

Fourth Quarter 2017

Market Matters

Third Quarter 2017

Dual duel

Second Quarter 2017

The Fundies Under

First Quarter 2017

The Big Recalculation?

Fourth Quarter 2016

What-dun-it?

Third Quarter 2016

Capital and Capitol Allocators

Second Quarter 2016

Leaving the Lights On

First Quarter 2016

The World’s Most Valuable Natural Resource

Fourth Quarter 2015

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