BBMC News and Press, JPMorgan BetaBuilders U.S. Mid Cap Equity From 01/23/23

Summary Introduction. The State of Ambivalence. Clouds on the horizon. For further details see: State Of Ambivalence

Summary We have hit the debt limit; we have a problem. How can we put off the problem and make someone else deal with somewhere down the road? Both political parties, in my opinion, don't really want a solution to the "debt" problem; they just want to send it off once again into the...

Summary The long-awaited downturn in global trade will take place in 2023. Supply chain realignments that have been years in the making will begin to take effect. Government policies launched in 2022 will bear fruit in 2023 and include subsidies for semiconductors and automotive electri...

Summary Reserve provisioning by banks against the likelihood of further deterioration in their consumer and small business loan portfolios. Analysts’ earnings estimates are finally catching up to the market, which decided already in 2022 that conditions were headed south. The...

Summary Looking at the most recent readings of many economic indicators, nowcasting gives a more up-to-date reading of the economy than gross domestic product. The weakest US sector is housing. Building permits have been on a downward trend for much of 2022 and dropped again in December...

Summary Many investors are happy to be moving on from the market volatility of 2022, which left a mere few good places to hide. Hitting the so-called “sweet spot,” US mid caps - generally defined as companies with market capitalization between US$2 and US$10 billion - can ...

Summary Massive outperformance of high short interest stocks versus the S&P is notable in isolation and particularly so over the past five years. Pace of short covering has also been violent. Speed and size of moves might have caused large losses in systematic strategies leading...

Summary Reducing the US deficit is praiseworthy. How was that accomplished in 2022? Reducing the deficit is not the same as reducing the debt. US debt continues to climb into the stratosphere. US debt above $30 trillion is more than $95,000 per person. How will it be paid? ...

Summary General market performance. Premium discount behavior trends. General performance of interval funds. CEF Insights Quarterly Review January 2023 Interview – Tom Roseen CEFA : Welcome to CEF Insights, your source for Closed-End Fund informa...

Summary Falling wages reduce the odds of a 1970s style outcome. The biggest lesson for me was the sheer uncertainty of the future. We keep threatening to default on ourselves over a self-imposed constraint that doesn’t actually constrain anything. Here are some thin...