Commentary

Each month, the BCWM Portfolio Management team publishes an Investment Commentary that examines the latest developments in financial markets and the economy. We filter out the noise and present the information most relevant to our investment strategies and management of our clients’ portfolios.

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No Food? Give Us a New Leader!

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Commodity prices are on fire. The cost of food in the past twelve months has exploded. To name a few: Corn          +84% Wheat       +76% Soy Beans +57% Coffee        +87% Live Cattle  +27% In addition, the prices of some non-food commodities like cotton (+150%) are much higher than one year ago. To the…
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Local Governments Have Some Problems, But . . .

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Every so often markets experience extreme reactions to situations that, in retrospect, turn out to be not nearly as extreme as anticipated. Near the end of 2000, prices of technology stocks soared to absurd levels and then crashed... crashed when the magnitude of economic growth from the internet was not nearly as extreme as anticipated.…
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PIIGS Get Slaughtered

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A sad paradox of lending and borrowing is that the borrowers who need money the most are the ones who must pay the highest rate of interest. Those who need it the least can borrow at extremely low rates of interest. High interest rates make it difficult to repay one’s debts, frequently causing one to…
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Gold Rush

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Hardly a day goes by that someone does not ask me what I think about investing in gold. Do I think the price of gold is going higher? How high do I think the price of gold can go? Is gold a good investment? The answer to any and all questions of that nature is…
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Recession is Over. Watch Out for the Recovery.

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I stopped in Chickasha, Oklahoma the other day and pulled into a McDonalds to purchase a small Coke. Chickasha is not a destination... it is a place you stop to get a Coke on your way to your destination. It is the county seat of Grady County and home to the annual “Festival of Light.”…
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