The Year of the Big Fluffy Bun

The Year of the Big Fluffy Bun

The Dow Jones Industrial Average, a collection of 30 well-known stocks, finished 2015 just shy of 17,500. For those who don’t pay particularly close attention to such stock market barometers, you haven’t missed much lately. The Dow also traded at the same level in...
“Too Loose, Too Long”

“Too Loose, Too Long”

“I have grown increasingly concerned about the risks posed by the current monetary policy.”¹ – The single-sentence, opening paragraph of Dallas Federal Reserve governor Richard Fisher’s Op-Ed to the Wall Street Journal, June 27th, 2014. “We are at risk of doing...
The Dove and The Dissenter

The Dove and The Dissenter

Janet Yellen is slated to become the most powerful woman in the world as she assumes the Chair of the Federal Reserve in January. Investors should be familiar with her tendencies – and mindful of her colleague’s concerns. Larry Summers, August’s front-runner to...
“Whatever It Takes”

“Whatever It Takes”

With just a few words ECB President Mario Draghi ushered in a new era of central bank dependency. Investors should be mindful of the high expectations for this experiment in monetary policy. Lest there was any doubt, European Central Bank President Mario Draghi spoke...
Tug of War

Tug of War

It is with both relief and reluctance that we are changing Granada’s current investment theme from the long-standing mantra of “Kicking the Can.” We’ve used the phrase to aptly summarize the nation’s fiscal and monetary policy of the past...