Cumberland Advisors Week in Review (Dec 16, 2019 – Dec 20, 2019)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.

Week In Review

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.


As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.


This week, David R. Kotok and Matt McAleer set the stage for John R. Mousseau to cap the week and year for Bonds and Equities.

Watch in the video player above or at this link:

Would you like to leave a comment for John or David? Contact them or any one of our advisors by following this link:

Have a great weekend and thank you for joining us at Cumberland Advisors.

Matt enjoys your feedback. You can reach him at:
-Link to Matt’s Email:
-Link to Matt’s Twitter:
-Link to Matt’s LinkedIn:
-Call Matt: (800) 257-7013

Or email us at or give us a call at (800) 257-7013

Cumberland Advisors Market Commentary – Impeachment, Markets, NIRP, Clark Gable

Author: David R. Kotok, Post Date: December 20, 2019

Impeachment, Markets, NIRP, Clark Gable


In the famous 1939 movie Gone with the Wind, Scarlet O’Hara (Vivien Leigh) delivers this poignant entreaty to Rhett Butler (Clark Gable): “Where shall I go? What shall I do?” Rhett counters with the retort, “Frankly, my dear, I don’t give a damn.” A blockbuster line delivered in just seconds, it has endured for decades. [Continued…]

Cumberland Advisors Market Commentary – New Trends in Charitable Giving & Declining Confidence in Institutions Examined

Author: Gabriel Hament, Post Date: December 19, 2019

Market Commentary - Cumberland Advisors - New Trends in Charitable Giving & Declining Confidence in Institutions Examined by Gabriel Hament

Over the last few decades, trust in key public institutions has been eroding. Here are some recent figures compiled by Gallup that document this trend: In 1973, 42% of respondents said that they had a “great deal or quite a lot” of confidence in Congress. In 2019, only 11% expressed that level of confidence. In [Continued…]

Cumberland Advisors Market Commentary – Paul Volcker

Author: David R. Kotok, Post Date: December 18, 2019

Market Commentary - Cumberland Advisors - Paul Volcker Quote (David R. Kotok)

Many have written, interviewed, and commented about the passing of Paul Volcker. We particularly like the commentary of Chris Whalen, who knew him better than many and whose family had connections with Paul Volcker over the years. We also note our GIC colleague Catherine Mann’s remembrance. Cathy, that was an interesting haircut “back when.” At [Continued…]

Cumberland Advisors Market Commentary – FOMC ZZZZZZZZZZZZ

Author: Robert Eisenbeis, Ph.D., Post Date: December 16, 2019

Federal Reserve - FOMC “Boring” was how commentators on at least one network characterized the FOMC’s December 11th decision to hold rates constant. It was, in fact, a no-brainer decision given the strong labor market, which created 266 thousand jobs in November; strong consumer spending based upon the Black Friday and Cyber Monday sales data; an unemployment rate at [Continued…]

Bloomberg Surveillance: Negative Interest Rates with Kotok (Radio Podcast)

Author: David R. Kotok, Post Date: November 27, 2019

Cumberland Advisors’ David R. Kotok talks about negative interest rates, NIRP, and says the European Central Bank’s (ECB) Christine Lagarde has a difficult task right now.

Cumberland's David Kotok on Bloomberg Radio

He also discusses China, the pork shortage, and the impact of viruses on the global food supply.

Running time 25:02, David is introduced at the 10:45 mark – Play Episode:

Also see David’s Nov 25, 2019 commentary on NIRP:

In Case You Missed It…

Ghana, Healthcare Delivery, and Sustainable Philanthropy

Author: Michael McNiven, Post Date: September 20, 2012

We had the opportunity to attend the Global Interdependence Center’s conference in Accra, Ghana in partnership with Sanford Health, the largest rural healthcare provider in the US, with headquarters in Sioux Falls, South Dakota. Sanford Health is a not-for-profit system that operates over 37 hospitals, clinics, and services in the North Dakota, South Dakota, western Minnesota, northwest Iowa, and northeast Nebraska geographical area. Sanford Health has also launched its Sanford World Clinics effort, to provide primary-care services in multiple locations around the globe.

Earth - Africa

Issues of health and wellness can be profound and truly impactful to individuals and nations. The conference was specifically focused on the issue of providing a sustainable model for permanent healthcare infrastructure. The intent of the organizers and the participants was to discuss specific and real methods for alleviating human suffering, to improve the human condition, and to do good in the world. Featured speakers at the conference included representatives from the Ghana Ministry of Health (, the Ghana National Health Insurance Scheme (NHIS –, the Women’s World Health Initiative (WWHI – focuses on maternal health, with emphasis in Senegal;, USAID in Ghana (, DocuTap (a provider of electronic medical records (, and Sanford Health ( Attendees included GIC members, American Chamber of Commerce in Ghana personnel, local business owners, church officials, and other Ghanaian citizens and organizations interested in healthcare issues. We encourage readers to explore these organizations’ websites to see the interesting and varied work they do.

The dialogue was vigorous as various approaches and topics were explored. It was clear that a need exists to regularly convene such dialogues among the stakeholders, both regionally and beyond. [Continued…]


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.