We can't know what will happen in the next few years. So we start from an assumption of uncertainty. Then continuously prepare and position for opportunities.

To understand the potential impact and duration of elevated inflation, we examine three significant components of CPI, including energy, used automobiles, and shelter. Some may be more persistent than others in the coming year.

We expect volatility and its good friend uncertainty to appear throughout the year. Indeed, this is the risk and reward trade-off that brings participants to the market.

Shelter, specifically home rental costs, make up the largest portion of the Consumer Price Index (CPI) and may offer us clues on just how transitory inflation could be. We also look at deflationary forces like technology and aging demographics.

The Fed officially announced this week that they would begin tapering their bond-buying program. The Fed wants to keep the economy from overheating, and tapering or reducing their bond-buying program is an initial step.

A "zombie company" refers to those barely alive companies that may be highly leveraged or unprofitable. They may not have earnings to pay their debts, so they walk among us waiting for lightning to strike.

Topics include remarks on various themes impacting markets and the economy, notably: Financial and labor markets, fiscal policy, and inflation.