Dear clients, friends and family: Following is the 2014 third quarter net performance information for CMG’s Tactical Investment Strategies along with our thoughts on each strategy over the past quarter. In addition, we have provided the net performance for the CMG Managed Blends and the [...]Read More >

  October 24, 2014 By Steve Blumenthal Paul Harvey, The Rest of The Story “Years ago a teacher in Detroit asked Stevie Morris to help her find a mouse that was lost in the classroom. You see, she appreciated the fact that nature had given Stevie something no one else in the room had. [...]Read More >

October 17, 2014 By Steve Blumenthal “Investors should understand that prices and valuations are high is another way of saying future returns have already been realized, leaving little to be gained for quite some time.” John Hussman In 2005, I was pitched a Bear Stearns leveraged hedge fund that [...]Read More >

October 10, 2014 By Steve Blumenthal “We’re in a period with many daily (often hourly) points that represent pixels in the market’s picture. The short-run trends (the cyclical cycles) of the market are hard to predict. Without extraordinary powers of clairvoyance, the best plan is a diversified, [...]Read More >

September 30, 2014 By Aparna Narayanan Investor's Business Daily CMG CEO Steve Blumenthal shares with IBD his insights into what lies ahead and the top picks for investors who are seeking global exposure and diversification. Excerpt: "Stephen Blumenthal, CEO of CMG Capital Management in [...]Read More >

September 5, 2014 By Steve Blumenthal Higher we go! While valuation and sentiment data scream caution, trend data and Fed policy tells us to continue the ride. Today, let’s take a look at the latest valuation charts and an updated look at Don’t Fight the Fed or the Tape. As you’ll see, the [...]Read More >

August 22, 2014 By Steve Blumenthal To me, the next cyclical market down trend is linked to Fed Policy and the timing of their change in interest rate policy. For now,  I remain in the Don't Fight the Fed or The Trend camp (constructive on equities). So what happens when the Fed raises [...]Read More >

August 15, 2014 By Steve Blumenthal There is an argument being made that the currently high valuation measures (PE, dividends, price to book, price to sales) are really not so high when you consider that today’s interest rates are so low.  The thinking is that today’s ultra-low interest rates [...]Read More >

August 8, 2014 By Steve Blumenthal I was interviewed by a very bright Bloomberg fixed income reporter yesterday.  His area of expertise is high yield credit and he had recently read the piece I wrote for Forbes, Code Red in High Yield.  He jumped right in with question number one, “is this the [...]Read More >

July 25, 2014 By Steve Blumenthal The risk in the high yield bond market is off the charts.  Yields are near record lows, bonds that shouldn’t be getting funding are and at terms unfriendly to investors.  A default cycle is in sight and unfortunately the nature of liquidity has changed.  This [...]Read More >

July 18, 2014 By Steve Blumenthal “See life as a marvelous unfolding of possibilities and blessings!” -Author unknown I’m writing a piece for Forbes about high yield and I’d like to share with you the genesis of the piece (I’ll provide a link for you in next week’s On My Radar).  Simply, yields [...]Read More >

July 11, 2014 By Steve Blumenthal I was in Denver this week presenting at a large investor forum.  I shared with the audience two valuation charts I believe you will find interesting. One looks at forward PE (a measure I disfavor). The other is what Warren Buffett called “probably the best [...]Read More >

June 27, 2014 By Steve Blumenthal Wishing you a wonderful 4th of July holiday weekend.  I share the following in this week’s (shortened) On My Radar: CBS’s 60 Minutes - Steve Kroft reports on the alarming state of the federal disability program What is Tail-Risk Hedging? Trade Signals: [...]Read More >

June 27, 2014 By Steve Blumenthal I listened to a Lacy Hunt presentation this week.  In his view, debt is choking growth in the U.S. and the balance of the developed world and will continue to do so.  In short, he shared research detailing that when total debt gets above 275% GDP, growth slows [...]Read More >