This is especially true if you are an airline or hotel employee that is about to be laid off as a result of a coronavirus lapse in demand. OK Kort, what would inspire confidence? —Tell the truth. Don’t speculate about when a vaccine might be available or make statements about how quickly testing will be…
Coronavirus Panic: Time to chill, breath in and breath out … and consider the facts.
Time to look backward: an S&P 500/Corona virus retrospective Even though the corona virus outbreak in China had been on investor radar screens since the first of 2020 the S&P 500 managed to claw its way to a new all-time high of 3338 January 23. That happened to be the day China cut off egress…
Nothing inspires confidence like an emergency Fed funds rate cut
— During the entire panic on the downside you had to ask ‘are things really that bad out there?’ — One also has to ask how does a cut of 50 basis points on the Fed funds rate positively impact the trajectory the COVID19 epidemic. — Fortunately, the answer may be ‘no’ to bullet number…
Blame it on the”Bern” … Really? Plus, the dreaded press conference.
I find my self incredulous (comments on the “Bern” and press conference to follow below) I find myself incredulous about the severity of the declines the past three days. I really shouldn’t be. The S&P had a terrific run last year … S&P 500 total return 31.48%. It is the damage being done on second…
Coronavirus continues its reign of terror
— COVID-2019 fears continue to dominate the market. — It is very hard to square the terror that surfaced Friday in bonds and gold with the evidence at hand. — Will coronavirus just be another obsession that falls by the wayside in the secular bull market? The S&P 500 is just 1.7% from a new…
“I’m done with fossil fuel” stocks
— When I see comments like this, especially from the likes of Jim Cramer (Squawk on the Street, 2/7/20), it gives me pause. — Cramer’s ‘big call’ history is more than a bit spotty. — Flawed as the much-heralded concept of ‘peak oil’ was back in 2008, writing the obituary for thefossil fuels industry may be a bit premature. When…
” … Corona virus to ‘paralyze China,’ don’t buy the dips” — a wannabe epidemiologist
— This grave assessment is not my own but that of Mohamed El-Erian, Allianz chief economic advisor and ex-Pimco CEO. — From the point of view of the media source it emanated from, CNBC, it is a great headline … wonderful click bait — Should it be part of your decision process? Is El-Erian credible?…
Markets and Media gird themselves to face a new challenge
2019’s big concerns evaporate Last week I attended an investment committee meeting for a small foundation for which, I serve as a board member. One of our members, a financial planner/ investment advisor, serves as a liaison to the street and his firm provides the committee with investment and economic commentary. His report led with…
“Everyone Seems to Be Bullish … Here’s What could Go Wrong”
What a buzz kill … I was just beginning to think “full Speed ahead” was the order of the day. A tale of these potential woes was laid out this morning (8:57 ET–1/4/2020) in a post by CNBC markets editor Al Lewis. Though the article pulls no punches, it really is just a restatement of…
“Damn the torpedoes … full speed”…ahead!
My title today derives from a quotation attributed to rear admiral David Farragut during the 1864 Battle of Mobile Bay. The actual sequence went more like this: “From his high perch, where he was lashed to the rigging of his flagship, USS Hartford, Farragut could see the ships pulling back. “What’s the trouble?” he shouted through…