
When April Gets Interesting
April 24, 2014
Should we be concerned about the recent declines or is it as simple as the popular April 15th Tax selling theory? We did a little digging into the past to see if we can confirm the tax selling theory. Is April the “Most Interesting Month of the Year?” If Dos Equis actor Jonathan Goldsmith is “The Most Interesting Man in De […]

Clear Skies
October 23, 2013
We see several catalysts that may facilitate further advances for equities and especially corporate high yield bonds into the end of the year. Low Down on the Shutdown. First the bad news. The U.S government is a large contributor to the economy and the shutdown will certainly have a negative impact on fourth quarter growth. Analysts are already downgrading fourth […]

The Smart Money
May 30, 2013
Smart Money There are a number of structural reasons why we call movements in the High Yield Bond asset class the “Smart Money”. A key reason is liquidity. High Yield Bonds are much less liquid than stocks. Bonds are still traded over the counter, dealer to dealer based on a wide variety of inputs such as inventory, credit risk and […]

Here We Go Again
March 28, 2013
As we approach the end of the first quarter, stocks have once again delivered strong first quarter performance while negative headlines from Europe are reemerging. Is the stage is set for another April/May decline? Here is what we are watching at Anchor Capital. The Dow Jones Industrial Average is reaching new all time highs and media channels are counting down […]

Gaps In Thinking
February 4, 2013
For investors, 2012 was a year of endless waiting; waiting for a resolution to the U.S. fiscal cliff, progress on the European debt crisis, results of a polarizing U.S. election, a Chinese leadership transition, resolution to the Bush tax cut extensions, etc..etc..etc. Any one of these issues alone possessed enough economic significance to bring investor confidence to a halt, and […]

Searching for Santa
December 27, 2012
It seems every year around this time we hear about the Santa Claus Rally, a period of time when markets supposedly provide a bullish backdrop for stock investors. With just a few days left in the year I thought it might be interesting to test the Santa Claus rally assumption. Examining data over the past two decades shows the last […]