Season Investments



Chocolate Sundaes

Posted on Aug 13, 2013

This week we are going to explore the history of Fannie Mae and Freddie Mac to better understand their role in the economy and how we got to where we are today.

Monthly Macro: Risk & Opportunity In Suprise

Posted on Aug 6, 2013

This month’s piece will focus on the game of chicken being played by China’s leadership and its economy, the recent optimism towards the Eurozone and potential hiccups being experienced in the US housing market.

Peeling Back The Layers

Posted on Jul 30, 2013

Two weeks ago we unpacked some interesting aspects of the current housing market recovery, its importance to the US economy and its future sustainability. Since then we have read a number of interesting pieces that have provided enough fodder for a “part 2” post on the subject.

Smooth Sailing

Posted on Jul 23, 2013

Since bottoming on the 24th of June the S&P 500 has smoothly sailed to higher highs, losing ground only 2 of the past 19 trading days through yesterday’s close. This has not been duplicated at any time in the last 30 years according to our math.

A Horse Of A Different Color

Posted on Jul 16, 2013

After a six year slide which began in 2006, the US residential housing market is back from the dead in a serious way. The Case-Shiller 20 City Composite Home Price Index is up over 13% for the 12 months ending in April of this year. The question then becomes whether or not the current recovery in housing prices is sustainable.

Targeting Infinity

Posted on Jul 9, 2013

“Our price target for the Yen is infinity, meaning it is going to be worthless.” – Axel Merk

Monthly Macro: The Squeeze Is On

Posted on Jul 2, 2013

This month’s piece will focus on the market’s response to Bernanke’s mid-month press conference, the deceleration in several economic data points during the month, and the recent liquidity squeeze in the Chinese banking system.

Taper Tantrum

Posted on Jun 25, 2013

When the New York Times first affixed the words “Taper Tantrum” to a video released last week, they likely had no idea how appropriate the phrase would be for what would ensue in the financial markets over the next several days. Neither did we, or anyone else we know of for that matter.

Terrible Taper & Rising Rates

Posted on Jun 18, 2013

There has been much speculation as to what has caused the recent rise in interest rates. The general consensus is that the market is anticipating a change in the Federal Reserve’s latest QE program, but what will it take for interest rates to continually rise from here?

The Bungee Effect

Posted on Jun 11, 2013

Jeremy Grantham is one of the better known value investors in finance today. His long successful track record, bold forecasts, and firm belief that all things revert to the mean has set him apart from the rest of the pack, which is why we have decided to make his Benchmark-Free Allocation strategy a core holding in our Absolute Return bucket.

Monthly Macro: Falling Forward vs Just Falling

Posted on Jun 4, 2013

In our Monthly Macro, we highlight the global themes that we believe are the most important and discuss why they matter for investors. This month’s piece will focus on the US recovery, speculation about Fed tapering, the improving federal deficit and a shift in Germany’s stance on austerity.

Taking Another Bite At The Apple

Posted on May 28, 2013

Like all multi-national companies, Apple earns a large amount of money from their overseas operations. If they decide to bring those profits back to the US they are required to pay the 35% corporate tax rate to repatriate those funds. Apple is not the first company to use legal accounting strategies to minimize their tax bill, and they won’t be last.