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Skeptical of Rally and Fiscal Farce MarketWatch
The rally on Wall Street might not last, according to Michael K. Farr of Farr, Miller and Washington. He tells Joan Doniger prospects for earnings have gotten worse as a result of the deal Congress reached.
Michael K. Farr
Farr, Miller & Washington, LLC.
Michael K. Farr is President and majority owner of Farr, Miller & Washington, LLC. He is Chairman of the Investment Committee and is responsible for overseeing the day to day activities of the firm. Prior to starting FM&W, he was a Principal with Alex Brown & Sons.
Drowning In Gasoline?
November 13, 2013, By Michael K. Farr and Keith B. Davis, CFA
Driving through rural Virginia this past weekend, I noticed something I haven't seen in a very long time - gas for less than $3.00 per gallon. According to an article in today's Wall Street Journal...
Taper and Tantrums
September 18, 2013, By Michael K. Farr
The Federal Reserve Open Market committee met Tuesday and Wednesday for its regular September meeting in Washington. The Committee's decision was released at 2:00 pm today. The Fed announced that it will make no change to its QE program, which calls for ongoing monthly...
Wealth Concentration for the Top 1% is at Worst Level Since 1929
MainStreet.com, By Leigh Held
September 17, 2013
NEW YORK (MainStreet) - President Obama addressed the nation yesterday on economic progress. The President began his speech revisiting 2008 and the state the economy was in when he took office...
Deciphering The Employment Data
September 25, 2013, By Michael K. Farr
In last week's Market Commentary, we said that we were not surprised that the Fed had decided to forego the taper because its own conditions for doing...
Why Q3 Earnings Season Doesn’t Matter
InvestorPlace.com, October 8, 2013, By Alyssa Oursler
While earnings season tends to steal the spotlight on Wall Street, things are bit different this time around. Third-quarter earnings, which have slowly started trickling out, are taking a backseat to the current circus in Washington.
October 23, 2013, By Michael K. Farr and Keith B. Davis, CFA
The dollar is dropping in value, and meaningfully so. Since its recent high on July 9, 2013, the dollar has lost about 7% of its value against...
Ready For A Pullback
September 12, 2013, By Michael K. Farr
Markets go down. It is an unpleasant truth for all investors. They haven't gone down much in a long while. We've been hearing lots of questions about raising cash and riding out the downturn from the sidelines. Great. I'm in. Tell me when the downturn will start, how deep it will go, and when it will be over...
October 31, 2013, By Michael K. Farr
The S&P 500 is now up about 24 percent, excluding dividends, since the end of 2012. Much of the gains have occurred since the end of the second quarter, a four-month period during which the S&P 500 gained about 10 percent. Given the continued strong gains, we thought it would be
Flurry of Stock, Bond Issuance Is a Danger Sign for Markets
By E.S. Browning, The Wall Street Journal, 11/10/2013
Just as financial markets were recovering from the Washington turmoil, a new danger signal has started blinking, in the form of a flood of stock and bond issues.
Many people see no problem. They find the new-issue action exciting, as the hoopla over last week’s $2.1 billion offering by Twitter Inc. showed. The process fuels entrepreneurship and securities issues are mother’s milk for brokerage firms, generating enormous profits.
But when new issues become as massive as they are today, it can mean markets are overheating and getting ready to give back some gains. That is why some experienced investors weren’t wearing party hats at the Twitter celebration.
Stock Will Rally on Yellen Testimony
The Kudlow Report, CNBC, November 13, 2013