The White Papers

Institutional Research by Allen Gillespie

Surviving Financial No-Man’s Land

Broken Models & Interest Rates at Ground Zero A White Paper by: Allen R. Gillespie, CFA  During World War I, an area developed between the trenches that quickly became known as No Man’s Land. It was truly a hell on earth, a barren field … [Read more...]

Are U.S. Stock Markets Rigged?

Thoughts on Michael Lewis’s Flash Boys A White Paper by: Allen Gillespie, CFA® The financial press has been asking the question, “Are U.S. stock markets rigged?” since Michael Lewis appeared on CBS’s 60 Minutes on March 30th.  Here is the … [Read more...]

Bitcoin, Banking and Bernanke

Saving and Banking in a World of Monetary Chaos A White Paper by: Allen Gillespie, CFA What is money? Every finance student is taught that money can be defined as any of the following: 1)      A store of value 2)      A medium of … [Read more...]

Money & Velocity

A White Paper by: Allen Gillespie, CFA  What in the world is going on with the quantitative easing, government debt, banking and gold? Everyone knows that the Federal Government has grown and that it has a debt of over $16 Trillion and that it is … [Read more...]

Quantifying (QE) Quantitative Easing

How large is the rate risk? And where is the inflation? A White Paper by: Allen Gillespie, CFA Quantitative Easing represents the monetary policy of the Federal Reserve, whereby it purchases securities, mainly longer dated U.S. Treasury and … [Read more...]

Latest Blog Post

Trump Rally- What's Next?

By Cliff Hodge, CFA® Portfolio Manager a[Read More]

Time to Buy TIPS?

By Cliff Hodge, CFA® Portfolio Manager[Read More]

Watching The Tape: October 3-7, 2016

Random gleanings from the world of busin[Read More]