We gained +46bps in relative calm and easy markets, in spite of the looming deadline to completely destroy all of Iran’s bridges and power plants. Said deadline remains unchanged for 8pm tomorrow evening. Be there!No real changes for the session, other than adding to XOM and re-starting AAPL — getting ready for the big move...Read More

Ladies, Gents — Chalk up another year on the calendar whereby it is perfectly acceptable to adorn oneself in bright pastel outfits, pawning off subpar candies and chocolates upon the youth — at times pretending to be a hopping mammal leaving baskets filled with treats for loved ones. Easter is a day of renewal, a...Read More

Dear Ladies, Gents,In accordance with regulatory requirements, we are providing you with our annual disclosure documents, including our Form ADV Part 2A (Firm Brochure) and our Privacy Notice.Since our last annual update, the following material change has occurred: We have updated our fee policy to allow for negotiability in certain circumstances, including for fixed income–focused client accounts. Previously, our...Read More

Once again, we were supposed to be drilled lower, amidst pomp and circumstance. Lesser men harried themselves and sold or sold short, frantic in the belief that it was going to get inexorably worse. Pre market we had losses of 170bps and all of that turned up almost immediately, with BCW closing the session green...Read More

Another solid session, albeit well off the highs. This should be expected since the war is still ongoing and no one really knows what is going to happen next. We are moving lots of men and equipment into the region and our actions suggest escalation is looming, not detente. However, the politicians tell us “two...Read More