• Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful.

    Warren Buffet

Capital Market Review

Iron Capital’s quarterly review of capital markets performance and updated market forecast.


  • Capital Market Review
  • Second Quarter 2017
  • Iron Capital Advisors

Second Quarter 2017

The lost decade. Back in 2010 there was a great deal of talk about how the United States stock market had gone nowhere for a decade. Fast forward seven years and we now find ourselves at the top of a very old bull market in US stocks, while the rest of the world has now experienced a lost […]


  • Capital Market Review
  • First Quarter 2017
  • Iron Capital Advisors

First Quarter 2017

We have a new administration who has promised to take us in a new direction. The outline of which most investors have pronounced positive, with their actions if not otherwise. But, ultimately it is about what actually happens and not just promises.


  • Capital Market Review
  • Fourth Quarter 2016
  • Iron Capital Advisors

Fourth Quarter 2016

President Trump. It is hard to argue that there was a bigger story in the fourth quarter of 2016 than the election of Donald Trump as the President of the United States. To be honest I wish there was, but as they say, “it is what it is.”


  • Capital Market Review
  • Third Quarter 2016
  • Iron Capital Advisors

Third Quarter 2016

It is often easy to know what is going to happen in the market. It is hard to know when it is going to happen. We have been harping on the uneven distribution of returns in the market for what seems like forever. The short‐term traders’ fixation on central banks and record low interest rates has driven the so […]


  • Capital Market Review
  • Second Quarter 2016
  • Iron Capital Advisors

Second Quarter 2016

If one were to look up the law of diminishing returns he would see something boring like an explanation about why incremental productivity gains of adding an employee get smaller with every employee added. Central bankers have not, however, seemed to learn the law of diminishing returns.

  • The lost decade. Back in 2010 there was a great deal of talk about how the United States stock market had gone nowhere for a decade. Fast forward seven years and we now find ourselves at the top of a very old bull market in US stocks, while the rest of the world has now experienced a lost decade. Markets move in long term trends. Are we at the end of the US bull market or the beginning of an international bull market?

    ~Second Quarter 2017

  • We have a new administration who has promised to take us in a new direction. The outline of which most investors have pronounced positive, with their actions if not otherwise. But, ultimately it is about what actually happens and not just promises.

    ~First Quarter 2017

  • President Trump. It is hard to argue that there was a bigger story in the fourth quarter of 2016 than the election of Donald Trump as the President of the United States. To be honest I wish there was, but as they say, “it is what it is.”

    ~Fourth Quarter 2016

  • It is often easy to know what is going to happen in the market. It is hard to know when it is going to happen. We have been harping on the uneven distribution of returns in the market for what seems like forever. The short‐term traders’ fixation on central banks and record low interest rates has driven the so called FANG stocks and the dividend paying stocks to what seem like outrageos heights. However they have ignored the rest of the market.

    ~Third Quarter 2016

  • If one were to look up the law of diminishing returns he would see something boring like an explanation about why incremental productivity gains of adding an employee get smaller with every employee added. Central bankers have not, however, seemed to learn the law of diminishing returns.

    ~Second Quarter 2016