Deficit to GDP

By Joe Day

In emerging markets, a deficit greater then 4% of GDP is high. While a developed economy has more consistent revenues and a more diversified economy, a deficit to GDP ratio of 10% is detrimental to growth.  MAJOR deficit reduction initiatives must be enacted to meet this short-fall.  If last week’s budget battle was an indication, its going to be rough-riding… Read more

The Federal Reserve Discount Window

By Joe Day

The level of global financial market integration is truly underestimated by most investors: “Overseas banks accounted for about 70 percent of discount window loans when borrowing reached its peak of $113.7 billion in October 2008, according to the Fed’s data. The discount window, established in 1914, is known as the lender of last resort.” (Click here to read article)

Unemployment drops to 8.8%

By Joe Day

The unemployment rate dropping to 8.8% is a milestone.  Combine this data with the continued strength in manufacturing and you have an optimistic outlook for continued growth in employment.  Despite the ugly real estate outlook, the economy continues to expand and employment is growing.  Biggest hurdle left is the deficit and what moves can be made to lower it, without… Read more

US Economy Back to Precrisis Levels – Perspective

By Joe Day

This is good perspective on how the US recovery is shaping up, relative to our European counterparts. The focus is on an expansive fiscal and monetary policy approach verses austerity measures or less expansive fiscal and monetary policy approach. (Click here to read Fidelity article)

Unemployment Rate Drops

By Joe Day

The drop in the unemployment, despite the slow growth in farm payrolls, is a good sign for the economy. I think it is likely we’ll see this number drop to close to 8% by year-end, but given the structural unemployment issues, extended unemployment benefits and older generations not retiring, these issues create a lot of upward pressure on that number… Read more

ISM Index of Manufacturing in US Rises

By Joe Day

Despite unrest in Egypt the markets are looking towards further economic expansion.  Hurdles remain, but confidence continues to improve. (Click here to read article)

The Fed

By Joe Day

The Fed’s role in the recent financial crisis is unprecedented. While there is no doubt they staved off a true collapse of our financial system, there is also no doubt that they wield significant power over our capital markets that truly tests the principals of “free markets”. A few quotes from the article below are worth noting: ““The Federal Reserve… Read more


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bio3Joe Day, CFA is the Founder of Bear Mountain Capital. Joe started the company after spending many years advising high net worth clients with a leading global wealth management firm. Joe earned the right to use the CFA designation from the CFA Institute in 2011. He also holds a degree in Business Administration, with a Major in Finance from Gonzaga University.

Luke Collova is an Investment Advisor Representative for Bear Mountain Capital focusing on planning, investment strategy, client development and operational support. Luke’s prior career included providing commercial insurance coverage for a global insurance firm. Luke maintains his Series 65 license and holds a degree in Business Administration, with an emphasis on Finance and International Business from the University of Puget Sound.