While the market held up last week despite underperformance from the Magnificent 7 (or Fab 5) because of strength in the rest of the S&P 500, it can’t go much higher without them leading. That’s simply a function of math:…
Yesterday, in a presentation to investors, Dubravko Lokas-Bujas, JP Morgan’s Chief Global Equity Strategist, called for an “out of the blue” stock market crash to finish 2024 at 4200 – about 20% below current levels. The reason he gave is…
Wednesday at 2pm EST the Fed released its policy statement explaining its March rate decision and forward outlook. At 2:30pm EST Chair Powell held a press conference. In the wake of the Fed’s maintaining its outlook for three interest rate…
Stocks rallied hard on Tuesday in the wake of the February CPI – but it didn’t make any sense. The CPI came in slightly hotter than expected and this sticky inflation has taken a May rate cut off the table….
S&P 5000. I can’t say I expected that 15 years ago when the market was crashing and the S&P fell below 700. It’s been an incredible run since then – led by the Big 5, now the Magnificent 7 (Tesla…
Fed Chair Jerome Powell was significantly more hawkish than expected in his post Fed Statement press conference Wednesday resulting in a selloff in stocks. Powell said he didn’t think a March rate cut was likely pushing up the odds of…
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…
At the end of his long life, Charlie Munger expressed doubts about the future of value investing: I think that the modern investors, to get ahead, almost has to get in a few stocks that are way above average. They…