Blog

  • Win A Free Ticket To Gotham Media’s Digital Breakfast

    Gotham MediaHear Business Insider CEO Henry Blodget and other leading business publishers discuss how business media might serve as a model for the future. We’re giving away FIVE free tickets.

    Innovation and experiments with pay walls, information services and products are paying off, and financial media is as vibrant as never before. Is it a result of and interest in the economy? Whatever the reason, it is a bright spot in an unprecedented media downturn.

    PANELISTS INCLUDE:

    • Henry Blodget CEO & Editor-in-Chief, Business Insider
    • L.Gordon Crovitz Co-Founder, Press+; Fmr. Publisher, Wall Street Journal
    • Andrew Edgecliffe-Johnson Media Editor, Financial Times
    • Brian Hecht Publisher, Premium Services, TheStreet.com
    • Phil Pearlman Director, StockTwits; Partner, Social Leverage
    • Jonathan Wald Adjunct Professor Columbia Journalism School, Fmr. SVP CNBC

    DATE: April 14, 2010, 8:00 – 9:30 (Breakfast 8:00am-8:30am, Panel 8:30am-9:30am)

    LOCATION: Wells Fargo, 375 Park Avenue, 10th Floor

    VALUE: $40

    Click here to enter for your chance to win >> 

    Deadline to Enter is April 9, 2010 (12:00PM EST).

    One ticket per winner.

    Join the conversation about this story »

  • Bioscience Bridge launches as tech transfer agency for university bioscience research

    Boise, ID, professional services company Bioscience Bridge, LLC, has been launched to accelerate connections between university-based bioscience research and commercial developers. Michelle Travis and Mark Stinson — former executives of Chicago-based Stinson Brand Innovation, Inc. — formed Bioscience Bridge, which is supported by a team of consultants with backgrounds in product strategy, marketing, business development, life science, legal, licensing, and commercialization. “We know that some of the best bioscience research comes from universities,” says Travis, who serves as principal and managing director. “Bioscience Bridge helps tech transfer offices at these universities get the technology out into the marketplace in the form of a start-up company or licensing agreements.”

    University TTOs may contact Bioscience Bridge when they have a technology that is “stuck” or they’re looking for a technology portfolio evaluation, Travis adds. Bioscience Bridge uses several proprietary processes to assist OTTs:

    • Evaluation: Using “B.E.A.M.S.” to analyze a university’s technology or portfolio — measuring its breakthrough potential, ease of development, advantages over competitive technologies, marketability, and sampling or prototyping for evaluation.
    • Strategy: Facilitating a Strategic GPS navigation process to guide early-stage technologies by identifying key targets, articulating the current situation, defining the desired objective, conveying the over-arching strategy, delineating the milestones, outlining the key tactics, and bridging the science and business in a comfortable atmosphere.
    • Promotion: Positioning the right message in the right medium to the right people.
    • Negotiation: Assisting with contract terms leading to commercial agreements.

    Source: PR Newswire

  • Report: President Obama denied hybrid limo by Secret Service

    Filed under: , , , ,


    Cadillac Presidential Limousine – Click above for high-res image gallery

    You can’t always get what you want. President Barack Obama said today that he originally wanted his presidential limo to boast a hybrid drivetrain. So what keeps the ruler of the free world from getting what he asks for? In this case, it was the Secret Service. Obama’s body guards said that a hybrid engine couldn’t produce the kind of power necessary to scoot the massive Cadillac down the road in an emergency situation. That’s saying something, considering the Cadillac Escalade Hybrid boasts a V8 with enough power to have a 7,700-pound towing capacity. Part of us thinks it might also be a security concern to have a vehicle that may be more susceptible to electronic interference from nefarious sources, but that’s just a guess.

    No one’s exactly sure what the Commander-in-Chief’s car has under the hood, but it’s a good bet that it has eight cylinders and enough torque to move a mountain of armor plating. We hear it’s a diesel and we’re guessing it probably nets fuel economy on par with most RVs.

    Obama’s pining for a hybrid limo came to light during a speech about the government’s recent purchase of 5,000 of hybrid cars and trucks for federal use. No word on whether or not the executive branch got the General Motors employee discount.

    [Source: ABC News]

    Report: President Obama denied hybrid limo by Secret Service originally appeared on Autoblog on Wed, 07 Apr 2010 13:58:00 EST. Please see our terms for use of feeds.

    Permalink | Email this | Comments

  • BioPontis Alliance, universities partner to advance medical product development

    A charter group of private and public universities that includes New York University, the University of Florida, the University of North Carolina at Chapel Hill, and the University of Pennsylvania has entered into memorandums of understanding with BioPontis Alliance LLC of Raleigh, NC, to advance promising research discoveries. A biomedical development partnership, BioPontis will conduct intermediary technical and patent development work to attract downstream development partners in the biopharmaceutical industry. BioPontis also will work with participating faculty inventors so that all parties can benefit from research and knowledge gains as projects advance toward commercialization. The BioPontis model promotes collaboration on testing and validation as well as on patent enhancements. “The BioPontis Alliance model brings desperately needed financial resources and development expertise to bear at one of the most critical and delicate stages of university-based technology validation and commercialization,” says Michael J. Cleare, PhD, associate vice provost and executive director of the Center for Technology Transfer at U-Penn.

    “Universities need a palette of mechanisms to choose from as we work to meet our commitment to achieving public good from our innovative science,” adds David Day, director of U-Florida’s Office of Technology Licensing. “BioPontis Alliance is a model that could be reiterated across many scientific fields and many institutions.” BioPontis is raising a $35 million fund. Co-investment by private investors also is expected “as we deploy capital extremely efficiently across the portfolio, avoiding fixed costs by employing almost exclusively contracted R&D facilities and expertise,” says Barbara Handelin, PhD, president of BioPontis Alliance. “We have figured out how to de-risk this space starting with the right applied science and patenting expertise.” The partnership expects to close the fund in Q3 and immediately begin development on initial assets identified by the university alliance partners.

    Source: PharmaLive

  • Eye on Afghanistan

    The Columbia Daily Spectator
    this week published a powerful opinion
    piece written by Yoav Guttman
    , a Columbia University student in the School of
    General Studies and the Jewish Theological Seminary, about United States
    involvement in Afghanistan and its failure to effectively train the Afghan
    National Police (ANP). His piece is a
    response to Newsweek‘s “The
    Gang That Couldn’t Shoot Straight,”
    which highlights the ANP’s
    inadequate marksmanship and Taliban-provided ammunition, among others. Since
    2002, the United States has spent nearly $6 billion in an effort to train the
    ANP.

    Guttman (who happens to be the son of a Reform rabbi!) makes
    compelling case that against outsourcing of military work to private
    contractors, as the US has done by contracting DynCorp International and
    European paramilitary police units to take on much of the ANP’s training. He writes:

    “This outsourcing of military work is perhaps the
    most serious issue America faces. Rather than defining our mission and
    goals,
    we divert funds from our military to hire contractors to do the work.
    But the
    contractors are not accountable to the American government the same way
    the
    Army is. This leads to morally questionable tactics that are never
    answered
    for. Furthermore, in the eyes of the Afghans (or Iraqis), these troops
    are seen as Americans and forces of American imperialism. Thus, their
    actions
    represent the American government. This ultimately undermines the
    “winning of
    hearts and minds”  mentality, as again, our moral high ground is
    challenged.

    Guttman also addresses the “most distressing”
    silence of the anti-war movement following President Obama’s announcement in
    November that he’d be sending 40,000 more American troops into Afghanistan. He
    writes:

    Rallies and marches were held across American universities
    and in our nation’s capital demanding that troop levels be reduced and that
    America begin the process of leaving Iraq. Did the anti-war camp disband
    because we elected someone we like as our president instead of Darth Vader and
    Emperor Palpatine? As primarily liberal college students, we have the duty to
    challenge our government, regardless of whether the commander-in-chief is Bush
    or Obama. It is time to stop being so complacent and accepting of our noble
    mission in Afghanistan.

    Read the entire piece here
    and let me know what you think.

  • Distributed partnering model eschews conventional start-up road to commercialization

    The ongoing effort to build a better mousetrap for commercializing university IP has spawned a new concept its developers have dubbed “The Distributed Partnering Model (DPM).” The model was recently described in a white paper available here. Duane Roth, CEO of the San Diego-based nonprofit business accelerator CONNECT, and Pedro Cuatrecasas, MD, adjunct professor of pharmacology and medicine at the University of California, San Diego (UCSD), offer an approach that focuses more on advancing products and technologies than on developing individual start-ups. Although designed for life sciences innovation, the model also can be applied to other technology sectors, according to the authors.

    The biggest problem with the conventional startup model is the Valley of Death, “which is where I live” at CONNECT, Roth says. Although research funding has poured into biotechnology since the passage of the Bayh-Dole Act in 1980, driving a growing number of ideas and disclosures, the financing system to commercialize that IP “is just not functioning — especially in the start-up phase,” he maintains. Biotechnologies coming from university research labs now focus on small molecules, not proteins or antibodies. Although the technologies are innovative, they’re increasingly risky. VCs are shunning these early discoveries in favor of downstream technologies with well-identified lead compounds that are likely to succeed in clinical studies — even though this scenario almost never occurs, Roth notes. The DPM “describes a way to think a little differently — perhaps more rationally — about how we fund early-stage innovation,” he says.

    The model is built around four independent steps of a collaborative process to advance discoveries by sharing, or “distributing,” the financial and technical R&D risks, based on the unique assets, expertise, culture, and risk tolerance of participating organizations. The four steps are:

    1. Discovery. Universities and other research institutions would continue to play a leading role in applying their scientific expertise to generate new discoveries and technologies.

    2. Definition. A new type of organization called a product definition company (PDC), which combines an experienced management team with investment capital, would assemble a portfolio of discoveries in a given field, define initial product(s) from the discoveries, and advance them through product definition for eventual sale to third parties.

    3. Development. Well-defined products would be handed off to professional service providers (PSP), which would move product development to “proof of relevancy,” when products would be ready to advance to the marketplace.

    4. Delivery. Companies, such as big pharmas, would acquire products from the VC owners when they emerge from development, then package and deliver them through their own distribution channels.

    Instead of spending capital to build a company, DPM calls for independent PSPs to conduct the translational experiments and move a technology to the development stage. Hence, the majority of investment would fund continued product or technology development rather than operating and maintenance costs. “The difference here is that, instead of starting a company around every idea, you would start a company that takes 10 ideas forward in the given area of expertise of the team managing that product definition,” Roth says.

    The white paper was underwritten by the Kansas City, MO-based Ewing Marion Kauffman Foundation, which has raised the hackles of many TTOs. Following Kauffman’s proposal for “free agent” faculty skewered university TTOs, the commercialization debate has continued to rage. And although Roth maintains that the ideas came solely from him and Cuatrecasas, tech transfer professionals have greeted the DPM idea with some skepticism. “Bluntly, I think this is an extremely ill-founded proposal,” says Lita Nelsen, director of the Technology Licensing Office at the Massachusetts Institute of Technology (MIT). Tech transfer is local, Nelsen points out. “The majority of important entrepreneurial deals are done with people we know in the faculty, so the distributed model doesn’t work,” she says. An in-depth article describing and debating the merits of the DPM appears in the March issue of Technology Transfer Tactics. To subscribe and access the full article, plus more than three years of archived back issues filled with tech transfer strategies and best practices, CLICK HERE.

  • HTC HD2 back in stock at T-Mobile (for at least five minutes)

    Quickie: The T-Mobile HTC HD2 is back in stock (at this moment, at least) at T-Mobile.com.  Featuring a 1 GHz Snapdragon processor, 4.3-inch screen, Windows Mobile 6.5, and a 5.0-megapixel camera, the phone starts at $199.99 (depending on what price plan you subscribe to).

    Check out Noah’s First Impressions here.  Now that the device is back in stock, are you planning on ordering one?  Sound off in the comments!

    Thanks, JAE!


  • Unions look to federal government for help on pensions

    By Matt Holdridge

    It looks like labor unions are the next in line for a bailout. 

    From the DailyCaller:

    Legislation introduced last week could shift costs of union pension plans to taxpayers in an attempt to stave off organized labor’s pension funding crisis.

    Senator Bob Casey, Pennsylvania Democrat, introduced the Create Jobs & Save Benefits Act of 2010 to address the funding problems faced by union-administered multi-employer pension plans.

    Multi-employer pension plans have to cover the benefits of members, even if their companies are defunct. Currently the costs are shared among the companies that remain in the pool, but Casey’s bill proposes offloading them to the Pension Benefit Guarantee Corporation (PBGC), a federal corporation, which backs the pensions of 44 million workers, more than 75 percent of which are nonunion.

    …Union pension plans suffer from the same aging demographic problem as social security suffers.

    Before the economic downtown, when the latest pension data were available, only 17 percent of labor pensions were fully funded, compared to 35 percent in the non-union sector. More interestingly, pension funds of union staff and officers are well-funded — in the 90-plus percent range — while the funds of labor’s rank and file suffer.

    It appears the federal gravy train has no stops, especially if you’re a politically well-connected group like organized labor. 

  • Ford Focus RS500 reportedly sold out

    According to a Ford insider, the limited-edition Ford Focus RS500 sold out within 12 hours of being revealed, even though FoMoCo has yet to announce prices. The source said that despite Ford being forced to unveil the car 48 hours earlier than planned, it received over 500 expressions of intent to purchase.

    “From that moment on people were literally walking into dealers or calling them up and placing orders for the car,” the Ford source told AutoCar. “However, because we had to quickly bring the car’s launch forward we hadn’t even briefed the dealers on its existence. It led to some quite confused phone calls between dealers and head office.”

    FoMoCo is now sorting through the list to provide equal allocation across Europe, ahead of the order books formally opening in May.

    Refresher: Power for the Ford Focus RS500 comes from a turbocharged Duratec RS 2.5-L 5-cylinder engine making 345-hp with a maximum torque of 339 lb-ft. That allows it to go from 0-62 mph in 5.6 seconds with a top speed of 163 mph. Only 500 will be made.

    2011 Ford Focus RS500:

    – By: Omar Rana

    Source: AutoCar


  • NSF grant to launch tech commercialization clinic for UC-Davis students

    The University of California Davis Health System in Sacramento has received a two-year, $600,000 National Science Foundation (NSF) Partnerships for Innovation grant to develop a Medical Technology Commercialization Clinic that will train students to translate innovative technologies developed in university laboratories into marketable products to advance patient health. The grant will fund a multidisciplinary, collaborative partnership of scientists, educators, and business leaders to stimulate economic development and build a suitable infrastructure to develop medical technology and a diverse workforce. The partnership includes the UC-Davis Center for Biophotonics Science and Technology (CBST) and other UC-Davis departments, Fisk University, Sacramento State University, Los Rios Community College District, Sacramento Area Regional Technology Alliance (SARTA) and its MedStart Initiative, PRIDE Industries, T2 Venture Capital, Wavepoint Ventures, and the cities of Sacramento and West Sacramento.

    The Medical Technology Commercialization Clinic will use live and virtual forums to provide hands-on training to graduate and postdoctoral students in biomedical sciences, engineering, and business so they can convert research into treatments and products. The model is designed to overcome challenges to university tech transfer, which traditionally focuses more on discoveries than business development. One example of a project under development at the clinic is an endoscope that combines microscopic imaging and ultraviolet auto fluorescence for noninvasive, real-time detection of cells progressing toward cancer in the esophagus. “The clinic is an excellent way for students and scientists to gain entrepreneurship training and develop strategies to commercialize research projects,” says Gabriela Lee, CBST’s director of partnerships and new program development and manager of the clinic.

    Source:  California Healthline

  • Schools may flunk testing

    One of the nation’s leading educational authorities reiterated Tuesday (April 6) her often-reported warning that American public schools are in peril — perhaps more than ever.

    What was unusual, however, about Diane Ravitch’s presentation at the Askwith Forum of the Harvard Graduate School of Education was her approach: What she once championed to save the system is now, she contends, leading to its demise.

    “The passion for test-based accountability has turned into a monstrous obsession with data that threatens the quality of education,” said Ravitch, an education historian who served in the first Bush administration’s Education Department.

    “I’m not actually opposed to testing. I believe testing can be very valuable when testing is used for informational and diagnostic purposes,” she said. “What I am opposed to is misuse of testing for accountability purposes.”

    She singled out “the naïve belief that test scores are infallible and certain.” Rather, “They should be used with caution.”

    “I’m not opposed to choice [in selecting to attend a charter school]. I think everyone should have choices. But I oppose choice when it is used — as it has been in some places — as a conscious strategy to undermine public education.”

    Once a vocal proponent of standardized testing and charter schools, Ravitch often clashed with progressives. But in her 20th book, “The Death and Life of the Great American School System: How Testing and Choice Are Undermining Education,” she decried the mandates of the No Child Left Behind Act (NCLB); indeed, she suggested that an alternative book title could be “Lies Our Policymakers Tell Us About School Reform.”

    Ravitch insisted she has not “done a 180” degree turn in her thinking. Rather, she said, she always has pushed for all children to have a quality education. “I’ve long been a critic of the rising tide of mediocrity,” she said. “I hoped, perhaps foolishly, that accountability and choice would help us reach [those ends]. And I think now I was wrong.”

    Schools and teachers are being punished for failing to reach impossible standards, so schools are “gaming” test results to improve scores, she said. Using 1998 to 2009 data that examines the skills of children who grew up under the No Child strictures, “there is not one iota of improvement,” she said.

    She compared using test scores to evaluate schools to judging a baseball player by a single at-bat, saying scores should only be only one element in evaluating a school. “Even Babe Ruth struck out more than he homered,” she said.

    Charter schools, once heralded as an alternative to regular public schools, do not get better results, she said. Moreover, they represent only 1.5 million out of 50 million public school students. The focus should be on the majority, she said.

    Ravitch slammed President Barack Obama for supporting punitive action against schools that fall short of standards. That, she said, encourages schools to recruit better students to raise scores, rather than help those most in need. She saved her harshest critiques for Congress, accusing lawmakers of knowingly passing impossible and unproven standards. “It is unethical for Congress to mandate remedies that are impossible to achieve,” she said.

    Ravitch’s new approach has plenty of skeptics and critics; two of them participated in Tuesday’s forum.

    Martin West, assistant professor of education at the Harvard Graduate School of Education, hammered both Ravitch’s research and her conclusions, accusing her of a lawyerlike habit of choosing only those facts that support her case and ignoring those that don’t. Ravitch’s book, he said, presents “no studies showing choice destroys education.”

    Moreover, Ravitch “ignores the failings of the system that [reforms] were intended to improve,” West said.

    Daniel Koretz, Henry Lee Shattuck Professor of Education, addressed Ravitch by wondering, in effect, where she was when the act was being formulated.

    “We didn’t have to wait for NCLB [to pass] to know these policies are impossible,” he said.

    Still, he agreed with Ravitch that education policymakers “charge along blissfully, unaware of evidence.”

  • Cindy Gallop at Home in New York City

    This New York apartment is kind of ridiculous…but hey, her style is her style. What made me post a link to this article was the last question and answer in the handwritten (!) interview with the apartment owner:

    Q: I have a boring brand, give me some quick advice?

    A: Someone, somewhere is excited by it. Talk to them. Find out what excites them and then build on that to reposition yourself to everyone else. But always true to yourself.

    Maybe what she said is cliche, but it sounds like good advice to me.

  • Medialets Announces Rich Media Ad SDK for Android



    Medialets has just announced the release of their Rich Media Ad SDK for Android and with that became the first, and only, “cross-platform, network independent, fully native rich media solution for mobile”. What this basically means is that it’s possible to deliver the same rich mobile advertising on both Android and iPhone handsets. Advertisers can create ads which can be displayed on both platforms and track them with one dashboard. This will save not only time but money as well. As both Android and iPhone continue to dominate the mobile market, Medialets is doing their part to make it easier to advertise on them! Read more about today’s news on the Medialets blog.

    Might We Suggest…


  • Ford Focus RS500: Gone In 43,200 Seconds

    You snooze, you lose: remember the Ford Focus RS500 we told you about here? The 345 horsepower, matte and gloss black, limited edition uber Focus RS that Ford deemed us ‘Mericans unworthy of buying? Sorry to tell you, but you’ve missed your opportunity to buy one for your summer place in Berlin.

    The entire production run of 500 units sold out in twelve hours, despite the car’s yet-to-be-published price. Demand was so strong that more than 500 orders were received from the UK alone, so Ford’s next challenge will be allocation by country.

    If you really need one, there’s still hope: if Ford’s announced price winds up being higher than buyers are willing to pay, you could always buy someone’s spot in the order queue. It’s only money, after all, and you can’t drive a 401k, now can you?


  • Villaraigosa says he will ask utility board to give some money to lessen budget crisis

    Los Angeles Mayor Antonio Villaraigosa budged a little Wednesday in the standoff over the budget crisis and electric rate hikes, saying he would ask his appointees on the Department of Water and Power board to transfer some money to the city’s struggling general fund.



    Appearing on KPCC-FM’s “Airtalk,” Villaraigosa said he would probably not request the full $73.5 million promised by the DWP earlier this year. Instead, the request would likely be in the range of $20 million, he said.



    Villaraigosa warned that his request could be denied by the five-member board, which has voiced concern about its bond ratings. “I’m going to ask the Department of Water and Power for a transfer. But I can’t force them to do something that in their minds would violate their fiduciary responsibility to the ratepayers.”



    The mayor said Tuesday that the city would cope with the loss of DWP money by reducing nonessential services, such as libraries and parks, by two days per week.



    When the DWP was pushing for the first of four rate hikes planned this year, it had offered to throw in an extra $20 million for the city budget. That would have brought the total contribution from the utility to $93.5 million.

    At the time they made that offer, DWP officials said they would come up with the extra money by reducing costs, such as travel not related to water and power operations.



    Shortly before Villaraigosa spoke, Council President Eric Garcetti said the council’s proposal for raising rates had the backing of the Los Angeles Area Chamber of Commerce and would have provided the same amount for the DWP’s financial obligations as Villaraigosa’s.



    Garcetti said he believed a compromise would be worked out within the next two weeks.



    — David Zahniser at Los Angeles City Hall

  • Even Steve Jobs Would Want the Joule iPad Stand [Ipad]

    I’m glad someone actually took the time to design a simple stand that not only matches the iPad’s industrial design but makes it look even better. The Joule’s made in California, but it reminds me of classic 70s European designs. More »







  • AMS Drag EVO VIII World’s Fastest Mitsubishi

    AMS Drag EVO VIII World’s Fastest Mitsubishi

    On March 28th 2010, AMS Performance added their name to an elite list of world record title holders with their Drag Mitsubishi Lancer EVO VIII shattering the four-cylinder record with a 228 mph pass at the spring 2010 Texas Mile Shootout, beating the old four-cylinder record of 223 mph by 5 mph.

  • Chrysler celebrates current Viper with Dodge Viper SRT10 Final Edition

    Chrysler will celebrate the final year of production of the current-generation Dodge Viper with a limited production run of 50 units of the 2010 SRT10 “Final Edition.” The 2010 Dodge SRT10 Final Edition Viper is available in coupe, roadster and ACR (American Club Racer) model configurations.

    The Final Edition Viper exterior features a Graphite Clear Coat body with a painted black center stripe traced in red. Viper Coupe and ACR Final Edition models include a black windshield surround. All Final Edition models carry unique side sill badges. On the inside, the Final Edition model gets custom red accent stitching, red painted halo surrounds on the gauge cluster and bright stainless steel screws in center stack bezel. A numbered dash plaque (1-50) is also located on the shifter bezel. All Dodge Viper Final Edition Coupe and Roadster models will ride on 6-spoke wheels painted in Anthracite, while ACR models will come with 5-spoke Sidewinder wheels in black.

    Power still comes from the 8.4L V10 making 600-hp and 560 lb-ft of torque. That’s good for a 0-60 mph run in less than 4 seconds with a top speed of 202 mph.

    Production of the 2010 Dodge Viper Final Edition models will begin in early summer.

    2010 Dodge Viper SRT10 Final Edition:

    – By: Kap Shah


  • Rate hikes not huge risk to stocks

    The inevitability that interest rates will rise and choke off the economic recovery is making some equity investors incredibly uneasy these days.

    While that's understandable, it's overdone to expect a major correction just because global central banks are set to tighten ultra loose monetary policy in the coming months, says Stephen Freedman, a strategist at UBS AG.

    "We conclude that while monetary policy is likely to keep markets in a state of uncertainty for several quarters, it need not prevent equity markets from posting at least moderate gains," Mr. Freedman said in a note to clients. 

    Owing to the uncertainty surrounding rate hikes, the strategist recently downgraded his recommendation on equities to Neutral from Overweight. At the same time however, he does not believe the  onset of monetary tightening adds significant risk to stocks.

    Based on his analysis since 1950 on how equities have performed around the beginning of a U.S. Federal Reserve tightening cycle, Mr. Freedman said stock markets perform better than average during the six months leading to the beginning of tightening.  By comparison, during the six months and one year after the policy change, stocks have performed in line with their long term averages. 

    Furthermore, although 12-month returns are best when monetary policy is tight and loosening, gains have still remained positive when policy is loose and tightening.

    "The phase that is relevant for the foreseeable future, loose monetary policy and tightening, results in stock returns broadly in line with long term averages," he wrote. 

    "In other words, the fact that the Fed embarks on a hiking cycle is not on its own enough to derail equity markets."

    David Pett