About Greg Feirman – Founder and CEO,
Top Gun Financial Planning
I dropped out of Philosophy graduate school to start Top Gun in 2006 to profit from the bursting of the housing bubble. The stock market peaked in 2007 and Top Gun beat the S&P by more than 50% in 2008 as the market crashed.
That’s when the Fed cut interest rates to 0% and introduced Quantitative Easing. It took me a long time to understand that all that money they were pumping into financial markets would prevent a Depression and in fact result in one of the longest and largest bull markets in history. I significantly underperformed the market from 2009 through 2020.
However, I never stopped working on my game and improving. I subscribe to what Mark Minervini has called “unconditional persistence”. I was going to master the stock game or die trying.
As I write this in June 2021, I have never felt better about my stock game and the future of Top Gun. For the first time in a long time, Top Gun’s client accounts are performing well and, having continued to refine my game during the previous difficult decade, I am confident that great things are ahead of me.
The stock market was already in a bubble fueled by the Fed’s easy policy before COVID in my opinion. What we are experiencing now is unlike anything in financial history. The Fed’s massive Quantitative Easing and the government’s gigantic stimulus packages in the wake of COVID have created a mirage of prosperity that will be shattered by crushing inflation in my opinion.
The great Austrian economist Ludwig von Mises explained how easy money creates the illusion of prosperity which inevitably ends in a bust. The same thing will happen this time around. The only difference is the magnitude of the stimulus and the corresponding size of the coming bust.
While most believe we are on the cusp of a mega boom I believe the opposite. America is on the brink. While this is not what I wanted, it’s what, in retrospect, I have been educating myself for my entire adult life. I believe that I will be able to navigate through the impending crisis as well as anybody. Finally everything feels like it’s coming together.