Alhambra Investment Partners, LLC

What do August 2008, August 2011, and January 2016 all have in common? In pop culture or mainstream news, I’m not sure you could find any consistent link between those precise periods. Even in...

The parallels between the last few years and those at the end of the 1990’s are striking. There was a few years ago the monetary intrusion of the “rising dollar” which at its worst...

In early September 2007, just a month after the eurodollar system broke and still weeks before the FOMC would finally see the need to do something, anything, private equity firm Carlyle Group added...

Economic ReportsEconomic Growth & InvestmentWe pay particular attention to broad based indicators of growth. The Chicago Fed National Activity Index and the Conference Board’s Leading...

Warren Buffett is complicated guy. He’s made out to be like your grandfather, the kind old guy who gives you simple and effective investment advice to help you make your way in this complex...

Once the sick man of the global economy, Europe’s system had roared back in 2017. According to the narrative, everything is right right now on the Continent. Manufacturing couldn’t...

There is no change to the risk budget this month. For the moderate risk investor the allocation to bonds is 50%, risk assets 45% and cash 5%. Despite the selloff of the last week I don’t believe...

Jerome “Jay” Powell was added to the Federal Reserve Board in May 2012. Quite an auspicious time to be thrown into things, Powell had avoided the “unexpected” liquidity crisis...

The storm-assisted car-fest that ended last year appears to be fully winding down. Automakers overall posted weak sales to start 2018. They are putting on their best face, admitting widely that this...

The unemployment rate, I’m sorry to report, didn’t tumble all the way to zero. Pity. It did stay at 4.1% for the fourth straight month. Because of that, wage pressures should be exploding...

In late January 2012, the FOMC released an official statement confirming to the world what had long been expected. The official goal of monetary policy, or at least one of them, was to achieve price...

It used to be a big deal, the kind of move that would itself move markets all over the world. Very quietly, the JPY has been trading higher over recent weeks and has reached a level of appreciation we...

For GDP, one big piece that’s missing, or what’s kept it at a lower rate than in the comparable 2014 period, is inventory. Three and four years ago, American businesses couldn’t get...

Durable and capital goods orders and shipments all increased in December by growth rates consistent with those registered in the months leading up to the big storms Harvey and Irma. We continue to...

If it seems like we’ve been here before, it’s because we’ve never left. On January 30, 2015, the BEA reported a disappointing headline GDP for Q4 2014 following what was truly a...

While there are those who saw October and more so November spikes in real estate and housing estimates as the beginning of the something big, all the December 2017 statistics suggest nothing more than...