Archive - The Manley Market Memo

The Manley Macro Memo

Are six interest rate cuts and 13% earnngs growth realistic?

Jan 31 •

J. Lawrence Manley, CFA

October 2023

The Manley Macro Memo

We are in a high risk period and stocks offer a poor risk-reward -- especially relative to a 5.5% risk-free rate.

Oct 17, 2023 •

J. Lawrence Manley, CFA

July 2023

The Manley Macro Memo

Investors are ebullient that the Fed has orchestrated a soft landing, yet corporate profits have declined for three consecutive quarters, and the…

Jul 17, 2023 •

J. Lawrence Manley, CFA

April 2023

The Manley Macro Memo

Should Investors Sell in May and Go Away? We believe the economy is on the verge of recession, and the next leg of the Bear Market is imminent.

Apr 25, 2023 •

J. Lawrence Manley, CFA

March 2023

The Manley Macro Memo

Stocks have a poor risk-reward and offer a historically low equity risk premium. A 4.9% risk-free rate is great.

Mar 10, 2023 •

J. Lawrence Manley, CFA

January 2023

The Manley Macro Memo

Wall Street believes the Fed will engineer a "soft landing." Is it probable?

Jan 27, 2023 •

J. Lawrence Manley, CFA

December 2022

The Manley Macro Memo

The S&P 500 rallied 17% higher over the past 8-weeks due to favorable seasonality and positive fund flows. We expect the bear market to resume when the…

Dec 23, 2022 •

J. Lawrence Manley, CFA

October 2022

The Manley Macro Memo

The Fed's mistakes created the worst year for balanced investors since the Great Depression. Is the worst over?

Oct 31, 2022 •

J. Lawrence Manley, CFA

September 2022

The Manley Macro Memo

Don't Fight the FED!

Sep 26, 2022 •

J. Lawrence Manley, CFA

August 2022

The Manley Macro Memo

The Bear Market Rally is Over. Stocks are Poised for the Next Leg of the Bear Market

Aug 28, 2022 •

J. Lawrence Manley, CFA

July 2022

The Manley Macro Memo

Is the Summer Rally Ending?

Jul 25, 2022 •

J. Lawrence Manley, CFA

June 2022

The Manley Macro Memo

The First Leg of the Bear Market is Over. What Happens Next?

Jun 24, 2022 •

J. Lawrence Manley, CFA

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