n 2019 the Fed made a quick U-turn, from raising interest rates to cutting them. The stock market continues to hit all-time highs, and the drums are beating louder about when the stock market bonanza will end.

Dr. Lacy Hunt is chief economist Hoisington Investment Management Company (HIMCo). He's a straight shooter!

HIMCo has over $5 billion under management, composed of pension and profit-sharing plans for both corporate and government entities, charitable organizations and insurance companies. HIMCo is also the sub-advisor for the Wasatch-Hoisington U.S. Treasury Fund (WHOSXX), a no-load mutual fund distributed by ALPS Distributors, Inc. They were rated the #1 Government Bond Fund in 2019.

Their quarterly newsletter is a must-read. Much like the old EF Hutton commercial, when Lacy speaks, I recommend we all listen. If you want to understand what is going on from the big picture perspective, and what the effects are likely to be, this is a terrific source. The most recent newsletter, which is for the fourth quarter of 2019, highlighted some facts I felt our readers should see.