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Boeckh Investment Letter

Investment and economic commentary by J.Anthony Boeckh and Robert Boeckh

Increasing Market Strains Ahead

There are signs of growing stress and tension in global economies, the financial system and societies, which are creating many confusing cross currents in financial markets. This is reinforcing the enormous uncertainty over the trend of asset prices and evaluation of risk. As a result, we continue to feel that a period of increasing strain in financial markets is likely and that investors should continue to underweight risk assets, maintain effective diversification and stay with quality stocks that have sound balance sheets and compelling value.

The U.S. remains awash with liquidity against a backdrop of a sub-par economic growth that exhibits many signs of fragility. There is a complex mixture of strengths and weaknesses as the private economy is in the early stages of deleveraging. The public sector has aided this transformation by increasing public sector leverage and monetary expansion at a prodigious rate. The effect has been a levitation of stock prices, stabilization of the housing market and an economic recovery that is largely artificial. The overarching questions are how long fiscal and monetary expansionism can be sustained and what the consequences will be when they are reversed.

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The Boeckh Investment Letter is a comprehensive service that provides analysis of factors affecting financial markets and broad investment recommendations* within an asset allocation context.  The service includes 12 to 18 issues per year (approximately every 3 to 4 weeks), depending on market conditions, i.e., changes in views, important new developments, etc.

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The full service includes:

  • Special Reports concerning important topics relevant to investors
  • Comprehensive asset allocation strategy and analysis (quarterly)
  • Short, informal commentaries on particular ideas/thoughts
  • Moderate e-mail access to the editors, Tony and Robert Boeckh

Basic Service

1 Year Subscription  - US $395.00

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The basic service includes:

  • Comprehensive asset allocation strategy and analysis (quarterly)
  • Short, informal commentaries on particular ideas/thoughts

 

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