The CNBC headline goes on something “… that will upset the market.” So if nothing really is going on to upset the market just plant the idea that there is in your headline. That’ll get their attention. In response I might say that there is always something lurking that might upset stocks. That’s a fact and that is not news. Another fact is that over the long run investors have been better of in the market than not.
I hate to pick on CNBC but they are such an easy target
Kortsessions.com has always been about calling out the media on its most egregious hypes and misrepresentations as they attempt to draw investors into their web of fear, fear of losing money or fear missing out. Lately that has become very difficult because we have not really seen any great themes develop … themes like the end of the world due to the collapse of the Euro and Eurozone (Greek Crisis), the end of Quantitative Easing (QE) and the huge economy-destroying jump in rates that was sure to follow, the chilling long-term effect of The Sequester, etc. Like Mark Twain said, “I am an old man and have known a great many problems, but most of them never happened.”
My recent problem is that, save a one day freak-out on Italy (renewed fear of the collapse of the Euro), there has been precious little in the media repertoire, especially new things to obsess upon. It has been very difficult to post … ergo, nothing since May 21, “Good news is still bad news and that’s good news!” Interestingly the widely-held skepticism noted in that piece continues, even with the market continuing to broaden out as evidenced by the Russell 2000 index almost daily making all-time highs. This move into Russell 2000 type stocks (i.e. smaller, more-speculative stocks) may be a precursor to tougher times in the market (“What Really Worries Me — December 16, 2017”). The level of disbelief continues high however. As such, I continue to believe that we have much further to go in this secular bull market.
Back to that lurking “thing”
This really is an incredibly misleading headline (link above) to what is ostensibly a very positive outlook from Byron Wien, one of the really smart strategists on Wall Street. Wien served for 21 years as the Chief Investment Strategist at Morgan Stanley and currently serves as vice chairman of Blackstone Advisory Partners.
Essentially Wien sees nothing that would be a precursor of an economic slowdown or recession for the next two years, a very benign environment for stocks. Sure there are things that could derail stocks on the short-term including presidential pronouncements on trade and geopolitical flares. But, for the most part, Byron’s outlook is very positive. Look at the video. see for yourself.
So, by all means, there is always “something lurking out there …” and that is always going to be the media’s hook. Generally, like Mark Twain said, …most of them never happened.
What’s your take”
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