Note: A few months ago I started writing a daily morning market email for clients, friends and family. I recently decided to start making this email more broadly available. Email me at gfeirman@topgunfp.com if you’d like to be added to…
We are, and have been, in a secular shift away from physical living towards online. I recently read a tweet that said COVID-19 has massively accelerated this trend. Earnings reports from the last couple of weeks have borne this out….
Let’s flashback to March 2000 when the Dot.com Bubble topped. The NASDAQ closed above 5,000 twice – Thursday 3/9 and Friday 3/10. And that was it. Today, the NASDAQ closed above 10,000 for the first time. Because of human psychology,…
George Floyd died at a moment of extreme dysfunction in American political life. Relations are so poisonous and so polarized between the parties that we are not seeing the kind of bipartisan meetings on Capitol Hill that typically occur at…
The consensus view is that this crisis is all about the coronavirus. Once the coronavirus is contained, markets will bottom, if they haven’t already, and we’ll rally into year end, eventually making new highs as the bull market resumes. One…
The more I think about, the more inclined I am to think that we are heading for Civilization Breakdown, due to the collapse of the dollar as a medium of exchange, like Germany in the early 1920s, as opposed to…
Last week, James Mackintosh had an interesting article in the WSJ about the stealth bear market. His main point was that stocks have essentially gone nowhere since Jan 26, 2018. Digging a little deeper, he points out that the Russell…
The importance of Apple to the foundation of the everything bubble cannot be overstated – Kevin Duffy, Co-Founder, Bearing Asset Management The last few months have witnessed the return of volatility. The S&P is down 14% from its all time…
NOTE: Every week or two I write a Client Note for my clients. I post most but not all of the notes to my blog but with a time delay usually between 1 day and 1 week. To receive the…
Yesterday, the Federal Reserve decided to keep the federal funds rate at 0.25%-0.50%. Since then, markets have soared as investors celebrate the continuation of easy money. However, the Fed also fairly clearly telegraphed a rate rise on December 14th. In…