Q3 2016 Investment Review

David W. Lemons, CFA
Senior Managing Director, Portfolio Manager

But what a fool believes he sees,
no wise man has the power to reason away
what seems to be is always better than nothing
there’s nothing at all, but what a fool believes he sees
The Doobie Brothers, 1978 

Global financial markets continue to be captivated by the daily debate about when and by how much the Federal Reserve will raise short-term interest rates. Opinions vary, and some of the debate has taken the form of pundits claiming to be the wiser and suggesting their counterparts are fools. Perhaps predictably, the topic has even become an issue for rhetoric by our presidential candidates. Right now, the Fed’s Open Market Committee guideline for the federal funds rate is basically nothing… Read more >