Our Publications

Our Recent Publications

Global Economic and Market Commentary First Quarter 2017

“A recent suggestion that policy gridlock should now be embraced as a buying opportunity is too convenient as those same strategists urged us to buy last November in anticipation of what a Republican controlled government would accomplish.”

Kopin Tan, Barron’s, “The Pause that Refreshes.”

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Global Economic and Market Commentary Fourth Quarter 2016

“[T]he Trump administration could have a much bigger impact on the US economy than one would calculate on the basis of changes in tax and spending policies alone because it could ignite animal spirits and attract productive capital…”  Ray Dalio, Bridgewater Associates. December 19, 2016.

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Drexel Morgan Capital Advisers Economic Outlook

Third Quarter 2016

“…investors would be well advised to remember that there is an impending limit to how much liquidity injections can protect markets from underlying economic reality.”

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Drexel Morgan Capital Advisers Economic Outlook

Second Quarter 2016

"The capital market distortions, the zombie loans, savings problems and the asset price bubbles created by a long period of short term rates being held at emergency levels can be very destructive in the long run."

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