Cumberland Advisors

Zimbabwe competes with Venezuela for first place in the contest of the most poorly governed regimes that have hyperinflation policies. Here is the latest chapter in dictator Robert Mugabe’s...

Early every morning at Cumberland an email is sent around to all folks in the firm who touch portfolios. LIBOR rates are part of the dataset.An estimated $150 trillion worldwide is US-dollar-based...

“Unsustainable things continue until they stop.” That is how Herb Stein answered Richard Nixon when Nixon asked about economic timing.The financial and economic construction of the EU and...

On Sunday, Italian voters rejected by a wide margin a constitutional reform put forward by Prime Minister Matteo Renzi. The result plunges Italy into a likely period of extended uncertainty and...

The US stock market has gained over 3% this month thanks to the presidential election. The continuing all-time high records in the equity market have pressed the VIX Index down to a level close to...

At the conclusion of our Thanksgiving Week missive we noted that "over half" of those arrested during five nights of post Trump victory demonstrations in Portland, Oregon, had not voted in the...

Speculation and diverse economic and market forecasts abound on the heels of the Trump win and Republican Senate and House victories. We won’t waste time repeating them here, save for one that...

When the time comes and the evening darkness provides some cover, the infant turtles start their scramble up from the sand nest. The wiggling mass of 70–100 hatchlings causes the sand to...

Gary Shilling is a well-known name in the circles of economics and financial markets. I’ve had the pleasure of fishing with him and tasting his superb honey – he is a beekeeping hobbyist....

“Destiny is not a matter of chance; it is a matter of choice. It is not a thing to be waited for; it is a thing to be achieved” – William Jennings Bryan, 1899 (Democratic candidate...

I was honored to participate this past week in discussions on the Fed, markets, and politics. The rationale for our views at Cumberland is argued here.An Overview• The market now anticipates a...

The Chicago Cubs erased 108 years of excruciating losses with an exciting 8-7 win over the Cleveland Indians in Game 7 of the 2016 World Series on Wednesday night. Hats off to the Cubs, who erased a...

The money market fund rules change came and went (Rule 2a7 effective on October 14). We now have government funds yielding short-maturity T-bill rates and prime funds yielding more from their holdings...

Business Insider has compiled a colorful depiction of the largest debtor countries in the world.Does debt to GDP mean anything? The answer is maybe. And perhaps the second part of that answer is that...

The decline in the British pound sterling that began in June when the UK voted to leave the European Union (EU) accelerated last week, culminating in a “flash crash” on Friday October 7...

Markets dislike uncertainty. However, October is historically a volatile month, with the CBOE Volatility Index (VIX) averaging 22.26 in the past decade. In addition, the US presidential election is...