Iron Capital’s quarterly review of capital markets performance and updated market forecast.
“We are bigger than US Steel,” said Hyman Roth to Michael Corleone in the classic film The Godfather Part II. That scene was placed in a Cuban hotel shortly before the conclusion to the Cuban Revolution in 1959. The irony being that both the mob and US Steel had begun to decline in importance by the time the movie came out in 1974. Those trends have continued to this day.
What could go wrong? Last quarter we discussed the return of international leadership in the capital markets. It seems only right that in a quarter where emerging market stocks went up 8.04 percent that we maintain that focus.
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…
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.
