As we move into the final quarter of 2018, the landscape is dotted with both opportunities and challenges, created by a combination of Federal Reserve policy, the Trump Administration, and frankly, time.

One of the most challenging aspects of evaluating opportunities at this point in the market cycle is the tendency of the market to be rather binary in its assessments.

While most of us know how quickly a few deep breaths can defuse a toxic situation, did you also know that this age-old advice is backed by scientific research?

A strong U.S. economy, continued global growth improvement, a concerted effort by global central banks to remain accommodative as long as possible, and a general sense of complacency about valuations in the equity markets provided the backdrop for 2017’s wins.

As 2017 closed, it has become clear that the "animal spirits" that guide the markets can shake off natural disasters, populist uprisings, a nuclear threat, and an ongoing stream of fodder for what once would have been Presidential scandals, but now pass for business as usual in the Trump Administration...

Threats of a nuclear conflict between the U.S. and North Korea, increased tensions between right and left here at home, a stalled Trump Administration agenda, and a spate of major hurricanes would in a typical environment likely lend to a pullback in risk assets and a flight to quality.