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Wainwright in the News
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John E. Tamny
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The Markets’
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The Markets' MessagePrint and share highlights from this months Wainwright research publications.
The Wainwright Publications List Publications List Survey our complete list of research publications to date for this year.
The Wainwright Report Card Report Card Review our predictions and the actual outcomes from the past years research.

 

The Markets Message
"The economic outlook is clouded again by the abrupt rise in credit spreads since April. Furthermore, the US economy has not been participating in the usual way in the world's economic rebound from the recession of 2008-09."
Economic Barometer – 6/10
~ R. David Ranson, President
and Director of Research
H.C. Wainwright & Co. Economics

 
Play a brief audio introduction from R. David Ranson, President and Director of Research. Approximate runtime 3 minutes after download - broadband recommended.

Publication Highlights as of July 1, 2010

Get the stories behind the headlines here!
Market-Driven Tools for Asset Allocation  The Capitalist Perspective
Do we really need a central bank?
As a result of the banking collapse and the bailouts that followed, the Fed has become one of the biggest targets in Washington for public distrust. Those who question the ongoing purpose of its existence have a point. Read The Capitalist Perspective now without charge. [ Read ]
Market-Driven Tools for Asset Allocation  Interest-Rate Outlook
High-yield industry bets based on market signals from gold and spreads
Sectors of the junk bond market perform predictably but differently relative to the overall market, in response to movements in gold prices and credit spreads.
Market-Driven Tools for Asset Allocation  Equity-Market Outlook
Is Shiller's cyclically-adjusted P/E ratio a superior gauge of market valuation?
A superior measure of valuation for the stock market should have better predictive power. But Shiller's ratio of price to trailing ten-year earnings is only slightly more predictive than the simple P/E ratio.
Market-Driven Tools for Asset Allocation  Strategic Asset Selector
How much bullion would equity investors need to hold to insure against inflation?
An investment portfolio whose return is independent of changes in the price of gold is, de facto, immune from inflation. We calculate that a mix of 85% equities and 15% gold satisfies this criterion.
Market-Driven Tools for Asset Allocation  Fixed-Income Barometer
Highlights:
The recent rise in credits spreads is worrisome but not yet large enough to imply a substantial weakening in the economy. They should be watched daily.
Market-Driven Tools for Asset Allocation  Economic Barometer
Highlights:
The economic outlook is clouded again by the abrupt rise in credit spreads since April. Furthermore, the US economy has not been participating in the usual way in the world's economic rebound from the recession of 2008-09.
Market-Driven Tools for Asset Allocation  Equity-Market Barometer
Highlights:
At the beginning of June, the US stock market had fallen well below the path implied by previous recoveries. But most of the expected gain since early 2009 had been achieved before then.
Market-Driven Tools for Asset Allocation  International Barometer
Highlights:
Foreign-exchange Value of the Dollar: Declining relative to most major currencies over the next couple of years.
Equity Markets:
Most favored - Argentina
Least favored - Hong Kong
Bond Markets:
Most favored - Germany
Least favored - U.S., U.K.
Get the stories behind the headlines here!

Wainwright in
the News
Wainwright in the news
bullet New! Wainwright Economics sourced by Michel Juvet “Less taxes, but not a smaller state”, Le Temps, July 5, 2010. Read
bullet New! David Ranson sourced in Buttonwood “Something doesn't fit”, The Economist, June 17, 2010. Read
bullet Need to Cut Spending — David Ranson on FoxBusiness.com, May 21, 2010. Play
bullet David Ranson on “The Revenue Limits of Tax and Spend” — Wall Street Journal Online, May 17, 2010. Read
bullet Scott Burns interviews David Ranson about tangible assets as portfolio protection, Dallas News, April 25, 2010. Read
bullet Gene Epstein cites David Ranson: "Drop the Double Dip" — Barron's, March 22, 2010. Read
bullet David Ranson discusses the recovery and the implications of the falling dollar with Bill Kearney - Financial Spectrum, WKXL, March 18, 2010. Play
bullet Simon Constable sources David Ranson: "Full-steam Ahead" — Market Watch/Wall Street Journal Online, March 18, 2010. Read

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