October 30, 2018

We have long contended that asset purchases by central banks contributed – directly or indirectly – to gains in global stock markets (represented here by the MSCI All Country World Index). We know that correlation does not necessarily imply causation, but a visual inspection of this chart, which has been updated through October 29, suggests at least some...

January 30, 2018

With U.S. stocks up about 6% in January, everyone is talking about the stock market melt-up...

January 24, 2018

The last time we had a drawdown in the S&P 500 of 3% or more was 305 trading days ago. The last time we had a 5% "pullback" was 396 days...

October 30, 2017

Over the last 27 years, the cost to hedge a U.S. equity portfolio using S&P 500 put options for declines larger than 20% (for 12 months) has ranged from 0.35% to over 15% of the value of the portfolio. Two-thirds of the time, the cost has been over 1% (median is 1.45%). Paradoxically, when the desire for hedging goes up – typically after periods of volat...

January 25, 2017

High stock valuations and low bond yields have dealt investors a risky hand – a 10-2 offsuit in poker parlance – but not necessarily a losing one. The Trump administration’s proposed tax cuts, fiscal stimulus, financial sector deregulation, and healthcare reform could ignite a final gasp higher in consumer credit and retail participation in the stock mar...

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SpringTide Partners
200 West Superior Street, Suite 200
Chicago, Illinois 60654
T  312 620 6362
E  info@springtide-partners.com
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The information contained in SpringTide Partner's website is of a general nature and for informational purposes only and does not constitute financial, investment, tax or legal advice. These materials reflect the opinion of SpringTide Partners as of the date produced and are subject to change at any time without notice due to a variety of factors, including changing market conditions or tax laws.  Where data or analysis is presented that is prepared by third parties, such information will be cited. These sources have been deemed to be reliable by SpringTide but no guarantee can be made as to their accuracy.  Any links to third party websites are offered for use entirely at your own discretion. SpringTide Partners is separate and unaffiliated from any third parties listed herein and is not responsible for their products, services, policies or the content of their websites. All investments are subject to varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy or product referenced directly or indirectly in this website will be profitable, perform equally to any corresponding indicated historical performance levels, or be suitable for your portfolio. Past performance is not an indicator of future results.

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