— Two key historic characteristics of the stock market: It works to confuse and confound the maximum number of people most of the time while providing excellent long-term returns. — So-called “hawkish” commentary by the Fed is credited with sending stocks into a tailspin while, strangely enough, buyers showed up for the US Treasury 10-year which’…
Tag: secular bull market
“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…
“Don’t celebrate the Dow record too much” or doubling down on a bad call
The bad call was the header of my last week’s post, “The wrong kind of stocks are leading the stock market to records.” What kind of stocks might those have been? They were defensive stocks … healthcare, utilities, REITs. Why was this bad? It was a sign the smart money was fearful. And that’s not…
Most Disrespected, Unloved and Disbelieved Secular Bull Market Since the Last One
That was an apt description of the sentiment surrounding the early years of the secular bull market that ran between 1982 and 2000. The bears thought they’d put the last nail in its coffin after the Dow Jones Industrials posted a 170% gain in the five years between 1982 and 1987, only to collapse a…
“Everyone is scared …”
This is our national psyche according to Nobel Laureate, Robert Shiller, a practitioner of the “dismal science” of economics. What are they scared of? The human race has deep underlying fears about technology and the lives their children will lead and this can be seen – in all places — in the negative yields in…