Season Investments

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INSIGHTS

The Hunt For Yield

Posted on Sep 10, 2013

The lack of available income in almost every corner of the publicly traded investment universe has forced us to broaden our horizon in the hunt for yield. One area that we think offers excellent risk adjusted returns is in the relatively new peer to peer lending space.

Monthly Macro: Tug Of War In Confidence

Posted on Sep 3, 2013

This month’s piece will focus on a few themes that show the ongoing tug of war between confidence and uncertainty. We’ll discuss equity market complacency, Syrian tensions and green shoots in the European and Chinese economies.

A Dangerous Game Of Chicken

Posted on Aug 27, 2013

After a relatively quiet 5-week summer recess, we expect the conversation in Washington to heat back up once Congress is back in session on September 9th. With exactly three weeks remaining in the fiscal year, the house, senate and white house will have to work together on a FY2014 spending plan or face a government shut down on October 1st.

Weaning The Mortgage Market

Posted on Aug 20, 2013

This week we will look at the bill being debated in the Senate and publically endorsed by the President proposing the eventual shut down of both Fannie Mae and Freddie Mac. The new bill proposes a plan to shut down Fannie and Freddie over the next 5 years while still maintaining a reduced role of the federal government in mortgage finance.

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.