Revisions

Revisions

  There’s a famous scene in the classic western Once Upon a Time in the West (1968) where the character Harmonica steps off a train and is confronted by three gunmen. When Harmonica asks if they brought a horse for him, one of the gunmen smirks and says, “Looks...
Butterfly Effect

Butterfly Effect

  In chaos theory, there’s this concept known as the butterfly effect. You might have heard of it or seen the 2004 movie by the same name. The idea is that tiny actions can lead to unpredictable changes over time. The famous example is a butterfly flaps its wings...
A Sigh of Relief

A Sigh of Relief

  It was a wild week in financial markets. A lot of crazy stuff happened. While I could point to several noteworthy charts—like the sharp decline in Japanese stocks or the fleeting reversal of the inverted yield curve—one chart stood out above the rest: weekly...
Feeling the Blues

Feeling the Blues

  It’s weird. Given a relatively strong economy and stock market, you would think consumer confidence would be running hot right now. But that’s not the case. As our featured chart above shows, the University of Michigan Consumer Sentiment Index fell to its...