Investment Portfolios Based on Macroeconomic and Securities Research

• April 2013
  Opportunities and Risks Abound

• January 2013
  Color Me a Skeptical Optimist


• October 2012
  Will my portfolio survive a second Obama term?

• July 2012
  Fear is in the air, but improvements are on the way.

• April 2012
  What a return to normal looks like.

• January 2012
  There is a bubble in safety.

• October 2011
  Greece is on fire. Don't get burned!

• July 2011
  A Bump in the Road to Recovery

• Brief Commentary on Opportunities in Regional Banks
  

• July 2011
  Inflation

• April 2011
  The Recovery is in Process. Time for the stimulus to end while the economy stabilizes.

• Japan Research Trip, March 2011 (pdf file)

• Mongolia Research Trip, March 2011 (pdf file)

• Corn Research Trip, February 2011 (pdf file)

• January 2011
  Painting over Rotten Wood. Short-term fixing our nation's fast-growing debt.

Archived, Special Topics

• Commentary on Corporate Capitalism and Its Challenges

• Presidential Economics

• September
  The Challenges of Being an Optimistic Contrarian

• June
  For all the talk of a slowdown, this looks like growth!

• March
  Fundamental Problems with Life Expectancy and Funding Levels for Social Programs within the U.S.

2009 Macro Research (PDF Files- mp4s may be emailed to you by your request).

• December
  Cautiously Positive Outlook in a Post-Crisis Economy

• September
  The new normal: slower, more durable growth while the rest of the world is catching up.

• June
  What happened, where are we now, and what do we expect through this recession?

• April
  20 Reasons We Believe the World is Not Ending: Improvements in the Economy even though the Stock Market has Just Begun to Turn Around

• Research Trip to China, November

• October
  What caused this recession, the housing bubble burst, bank bailouts, and what the future holds.

• July
  Sub-prime is just a normal capitalistic credit cycle.

• June
  Presentation to Mobile West Rotary Club: Dilutive Effect of Recapitalization on the Banking System and Concerns of Inflation

• May
  Explanation of the Coming Economic Crisis/ Recession before it explodes.

• April
  Hope for the Best, Plan for the Worst.

• March
  Predictions of What Lies Ahead

• January
  "EIEIO”... Earnings, Inflation, Employment, Interest Rates and Oil: What happened in 2007 and Forecasts for 2008.

• November
  The stock market and/or the housing market (rising asset prices) cannot be counted on to do our saving for us.

• October
  Lipstick on a Pig: Unless we tip over into an outright recession because of housing the Fed may soon regret their 50bps cut.

• September
  The current state of consumerism is not sustainable.

• August
  So much for global liquidity. Risk is underpriced.

• July
  Where is the margin of safety?

• June
  The Cost of Cheap Money

• April
  A Review of Our Past Chartbooks: We are Perma-skeptics.

• March
  Coming Soon: Tightening Money Supply, Higher Inflation, and Slower Economic Growth

• February
  Status Quo, with Inflationary Pressure Remaining

• January
  The US Economy & the Dow Jones Industrial Average has been Photoshopped.

• November
  Betting on the fat man to win the footrace? Current conditions vs. the stock market bulls.

• October
  Gold, Interest Rates, and the USD: How the Fed is getting its Mojo Back.

• September
  The impact of Katrina: one year later (Our thoughts on the future of oil prices).

• August
  Why We Think There May be Wage Inflation

• July
  Who’s afraid of the US dollar? We are... and here’s why.

• May
  Once we feared deflation. What we have is deep and persistent inflation that is biting purchase power.

• February
  The Fed wanted to reflate the economy and, boy, they got it. You name it, and it is up in price (ha! not value) in the last five years: homes, classic cars, gold, condos, land, oil... Everything except perhaps large cap growth companies, or the good ole US Dollar.

• January
  We are All Betting on the Bernanke Balancing Act!

• December
  We have been in a cycle of consumption driven by equity extraction that cannot continue at the same pace over the coming five years.

• November
  The Fed might soon be done, but inflation is still a risk.

• October
  The markets should reflect some of the uncertainty in underpriced risk.

• September
  Corporate earnings continue to rise, and that should provide an anchor to limit downside during this period.

• July
  Some of the tightening is likely in response to outlandish financing schemes associated with real estate transactions in isolated markets within the US.

• May
  Any market that is rising double digits with a twinge of speculation is a bubble according to the press. Read: Real Estate.

• April
  Energy, Earnings & Inflation: Three words that scare the bulls and cheer the bears.

• March
  Steady as she goes, or caught in a trap?

• February
  The question that everyone putting capital to work in risky assets has been asking is, “What is this market going to do?”

• January
  Slowing Rate of Money Supply

• December
  Cautiously Optimistic

• November
  The early election results alleviated the market’s uncertainty at the beginning of November, providing a boost for equities. At the same time, the price of oil has declined, and there was a strong employment report for October.

• October
  Points of Friction in the Election Campaign

• September
  What the Election Will Bring

• August
  Politics aside, the Presidential race is neck and neck and will likely come down to the wire. The markets are watching the race, and the campaigns are watching the markets looking for strength or weakness to exploit.

• July
  We have transitioned to a sustainable rate of growth consistent with low inflation, job growth, and profitability. Or have we?

• June
  Slower growth is appropriate at this point in the cyclical recovery.

• May
  Uncertainty in the Marketplace: Oil and Inflation

• April
  From Recovery to Expansion

• March
  In the Middle of a "W" Recovery

• February
  Robust Growth Continues

• January
  Things to Watch For: Presidential Election, China/Japan/Asia, and Commodity Prices

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Independent fee-based investment management advisor, retirement planning.

Cornerstone Investment Management and Consulting, LLC, 809-C Daphne Avenue, Suite 102, Daphne, Alabama 36526. Fee-based investment management, hourly financial advice and planning. Cornerstone is a Registered Investment Advisor (RIA) registered with the Alabama Securities Commission and is headquartered in the Eastern Shore of Mobile Bay in Daphne, Alabama.

For more information about our firm, or to receive a copy of our disclosure form ADV, please email us at info(at)csimac.com, or call 251.626.6292. Thank you for visiting our site.