State of the Markets
Moderna Monday
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I had every intention this morning of having a discussion about the divergence between the messaging the market received last week from the likes of Jay Powell, Dr. Fauci, David Tepper, and Stan Druckenmiller - all of whom expressed sobering outlooks - and, of course, the horrific economi…
Place Your Bets
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The question of the day - at least in the popular financial press - appears to be, why are stocks rallying with the economy in free fall? Readers of my oftentimes meandering market missive likely already know the answer here. As we've discussed a time or twenty, the stock market is a disc…
Assuming Away The Can And...
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There is an old joke which pokes fun at economists that I think applies to the current state of the stock market. It goes something like this...
An economist, a chemist, and a physicist are stranded on an island with nothing to eat but a can of beans. The chemist s…
The Battle Is On
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Stocks technically finished lower last week (the S&P 500 fell -1.3%), but in reality, the market has been moving sideways for the past couple weeks or so. Some will call it a consolidation of the big bounce off the bottom. Others say the market is in search of an equilibrium point. An…
Market Logic Can Be Confusing
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Investors received a steady flow of really rotten news on many fronts last week. China's economy shrank by -6.8%. JPMorgan (JPM) CEO Jamie Dimon said we need to expect a "severe recession" as well as "meaningfully bad" credit card defaults. The IMF changed its 2020 global growth forecast …
What Are We Lookin' At?
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The S&P 500 enjoyed its biggest bounce in 46 years last week. Which followed the biggest/fastest drop from an all-time high since, well, ever. So, naturally, the question now becomes, where do we go from here?
Markets cheered the Fed's sledgehammer response this past week. To …
