Active investment management’s weekly magazine for fee-based advisors

Tom McClellan

Tom McClellan is the editor of The McClellan Market Report newsletter and its companion, Daily Edition. He started that publication in 1995 with his father Sherman McClellan, the co-creator of the McClellan Oscillator, and Tom still has the privilege of working with his father. Tom is a 1982 graduate of West Point, and served 11 years as an Army helicopter pilot before moving to his current career. Tom was named by Timer Digest as the #1 Long-Term Stock Market Timer for both 2011 and 2012.

The Phillips curve is ‘not even wrong’

To paraphrase theoretical physicist Wolfgang Pauli, the whole idea behind the Phillips curve is “not even wrong.” Economist A.W.H. Phillips studied the relationship between inflation and unemployment in the United Kingdom and noticed that they were...

GLD assets show resurgent interest in gold

In spite of dollar strength, gold prices have rallied from the low we saw back in mid-December. It took a while, but this rally has finally started to bring more interest from retail gold investors. The SPDR Gold Trust, symbol GLD, reports total assets...

Is small-cap underperformance a warning?

Stock market analysts talk about an uptrend needing to have the “right kind of leadership.”  What they mean by that phrase varies from analyst to analyst, but what I have found is that an uptrend which is not led by small caps is a problematic one. The...