History doesn’t repeat itself but it rhymes – Mark Twain In the late 1960s and early 1970s there was a group of high quality companies including Kodak and Xerox that led the market and which investors piled into regardless of…
As everybody prepares for tomorrow morning’s Jobs Report, I’m focused on Silicon Valley Bank (SIVB) – a small bank that caters to early stage technology companies (the heartbeat of the Silicon Valley economy). As interest rates have risen and financial…
Painting: The Romans In Their Decadence (1847), Thomas Couture One of the greatest works in contemporary political philosophy is Francis Fukuyama’s The End of History And The Last Man (1992). In it Fukuyama argues that the tendency of history is…
Stocks rallied Friday as The Fed Whisperer Nick Timiraos penned a column suggesting that the Fed may be close to pivoting to a less hawkish stance. Timiraos suggested that – while the Fed will raise another 75 points on November…
It’s been a few days since last Thursday’s stunning reversal giving us some time to sort out what it means. As predicted some found technical analogies to support the idea that the price action suggested a bottom was near. The…
Were the Fed to ease because of growth fears before inflation has been vanquished, it would risk repeating its stop and go tightening of the 1970s, which economists now see as a costly policy error – Nick Timiraos, “Fed Wary…
For many years, in its statement the Fed insisted that monetary policy was NOT on a preset course but would instead be data dependent. At the moment, however, monetary policy IS on a preset course. The Fed will raise 50…
Post Modernism in philosophy can best be defined as the rejection of an objective reality. The argument is that human thought is inherently subjective and there is no objective arbiter of truth. Therefore, there is only the clash of opinions….
James Mackintosh wrote an excellent piece for The Wall Street Journal this morning (“Conditions Are Ripe For Deep Bear Market” [SUBSCRIPTION REQUIRED], Monday May 23, B9). A bear market is conventionally defined as a drop of at least 20% from…
Take a close looks at the eighteen red dots in the chart above by Jason Goepfert of Sentimentrader: 1987, 1990, 1998, 2008-2009, 2018-2019, 2020. Breadth readings this bad – this many stocks hitting 52-week lows on the NYSE and NASDAQ…