Posts From Michael Lebowitz

Michael Lebowitz
Michael Lebowitz, CFA is the founder of 720 Global. 720 Global is an investment consultant, specializing in macroeconomic research, valuations, asset allocation, and risk management. 720’s objective is to provide professional investment managers with unique and relevant information that can be incorporated into their investment process to enhance performance and marketing. 720 assists our clients in differentiating themselves from the crowd with a focus on value, performance and a clear, lucid assessment of global market and economic dynamics. Michael has over 25 years of financial markets experience. In this time he has managed $50 billion+ institutional portfolios as well as sub $1 million individual portfolios. Throughout his career he has been an astute follower of markets and developed a keen sense for the macro factors that drive markets and economies. You can read more about Michael on his website www.720global.com.
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Why Wall Street’s S&P 500 Price Forecasts Don’t Add Up

As we dig through several 2017 S&P 500 price forecasts, we discover that a majority of “Wall Street’s top strategists” are calling for a year-end S&P 500 price in the 2,300-2,450 range. None of the forecasters expect a down year for the S&P 500 Index (INDEXSP:.INX), but that’s an article…

Hoover’s Folly: How Trump’s Trade Policies May Effect Stocks

Donald Trump’s rhetoric about current and future trade policy has been strong (and critical). And considering that this has been one of his major talking points, it’s important for investors to understand the full scope of implications. Herein, we provide in-depth research on how Trump’s trade policies may effect stock…

Exposing The Russell 2000: Banks In Drag

In “Passive Negligence”, we highlighted how investors, on the margin, have been shifting from an active investment style to a more passive approach by favoring index and sector ETFs and mutual funds over individual holdings. We raised a concern that, in this mad dash towards the latest fad, many investors…

Mind Games: 3 Behavioral Traits Investors Should Be Mindful Of

In “Bubbles and Elevators”, we discussed how human beings do seemingly ridiculous things to fulfill their instinctive need to mimic what others are doing, right or wrong, logical or illogical. The greatest investors, those that make money when markets are rising and avoid the pain when bear markets occur, are…

A Narrative For Every Season: Weighing The Trump Market

“All is for the best in the best of all possible worlds” – Voltaire (Candide/The Optimist) Consider the media headlines and stories published before and after the presidential election regarding Donald Trump. Before the election: “The conventional wisdom is that, right off the bat, the stock market would fall precipitously. Simon…

Opportunities Into Bond Yield Surge: Another Payoff Pitch

In July of 2015 we penned an article entitled “Finding Value in the Ninth Inning of the Great Bond Rally”. At the time, bond yields surged higher in response to an all-too-familiar growth and inflation scare. In that article, we noted that while the bond market rally of over 30…

Employment Trends Weakening: 14 Must-See Charts For Investors

On November 4, 2016 the Bureau of Labor Statistics (BLS) released the employment data for October 2016. Economists rely heavily on employment trends & data to help gauge the health of the economy. Investors believe the data provides valuable insight into the likelihood that the Federal Reserve adjusts monetary policy…

Donald Trump’s Victory & The Fall Of The Middle Class

The Inconvenient Truth behind Donald Trump’s Victory Following the BREXIT vote in late June and passionate support for the Bernie Sanders campaign, the Presidential election of Donald Trump provided yet another sign that the American people, as well as many around the world, are increasingly demanding a new economic path….

The Rise In Passive Investing Strategies Is A Timely Warning

The stock market is an essential cornerstone of capitalism, not a game of roulette. Well-functioning and free capital markets properly regulate the cost of capital, which is a vital input allowing companies to analyze the cost and benefit of investing and the economy to run efficiently. When investors fail to…