Week of December 29, 2025 When two premier U.S. news outlets present the same fact with radically different prominence, investors are not merely informed—they are steered. Last week, The Wall Street Journal led its mobile edition with strong third-quarter U.S. GDP growth, while The New York Times relegated the same story far down its feed. … Continued

Week of December 22, 2025 A recent Wall Street Journal article titled What Christmas Tree Sales Tell Us About Holiday Spending suggests that there is a positive correlation between Christmas tree sales and overall consumer spending.  “This year, [Christmas tree sales] aren’t very good, running just 3% above last year’s levels… Last year, sales rose 7%.” … Continued

Week of December 15, 2025 In a widely anticipated move, the Federal Reserve last week lowered short-term interest rates. Broadly speaking, major equity indexes were little changed, though market leadership rotated out of leading technology shares and into prior under performers. Our Signals remained unchanged. Bob Bilkie, CFA

Week of September 15, 2025 The factors of production—land, labor, and capital—drive economic stability. Europe, however, nearly undermined them with poorly designed climate policies. By curtailing traditional energy sources before securing reliable alternatives, it weakened natural resources, raised production costs, and discouraged investment. The result was soaring energy prices and reduced competitiveness, showing how policy … Continued

Week of January 20, 2025 Commentary The ceasefire agreement between Hamas and Israel is a positive step in the short term, though violations remain a possibility. The past couple of weeks have been relatively stable from a news cycle perspective. By the time this is published, a new president will have been inaugurated. The early … Continued

Week of December 30, 2024 In an internal communication about equity market conditions, Sigma’s Director of Research, David Drogheo CFA, noted that “… some articles I have been reading lately have indicated that even if we are in a bubble, it may still have a way to go, as expensive stocks can get even more expensive. For … Continued

Week of December 23, 2024 A client asked why Trump wanted an increase in the US debt limit as part of the DC shutdown avoidance scheme. The rumblings in the Capital suggest DOGE will substantially reduce government spending but, as part of that process, employment buyouts are likely. This will temporarily INCREASE government spending. If … Continued

Week of June 24, 2024 The Sigma Signals turned 2 years old last week. Reminiscing on the investment landscape from two years ago compared to present day, items of significance include an increased yield on the 10 year US Treasury Note, a sharper focus on Social and Cultural issues and their effects on investment thesis, … Continued

Week of March 11, 2024 From the website www.goodreads.com: “We find that whole communities suddenly fix their minds upon one object, and go mad in its pursuit; that millions of people become simultaneously impressed with one delusion, and run after it, till their attention is caught by some new folly more captivating than the first.” … Continued

Week of December 18, 2023 The sharp rise in the Standard & Poor’s 500 stock index since the latter part of October has coincided in lock-step fashion with the equally sharp fall in the yield on the US 10 year Treasury Bond.  Inflationary pressures in the US have abated of late and this spurred the … Continued

Week of July 24, 2023 The Standard & Poor’s 500 stock index peaked at roughly $4,779 in October of 2021.  This past week it closed at $4,536, about 5% off of its prior high and roughly 25% above the lows reached in the summer of 2022.  As mentioned in recent Sigma Signals, the failure of … Continued

Week of March 6, 2023 Last week we referenced the revolutionary advances for humankind that will likely be advanced by the wonders of artificial intelligence (AI). This week we direct attention to an article in the Wall Street Journal dated February 25, 2023 entitled “ChatGPT Heralds an Intellectual Revolution.” Lead author Henry Kissinger (amazingly intellectually … Continued