The Crowd And The Contrarian
When I was in college my best friend had a serious interest in economics. The only child of Indian immigrants, he had a deep need to become wealthy. Perhaps he felt that wealth would cause him to be accepted and…
When I was in college my best friend had a serious interest in economics. The only child of Indian immigrants, he had a deep need to become wealthy. Perhaps he felt that wealth would cause him to be accepted and…
Friday was an interesting day as the market rallied in the wake of the stronger than expected March Jobs Report. Technically, it was an inside day with all of the price action taking place within Thursday’s range. Therefore, Thursday’s range…
The market was cruising along as usual Thursday before reversing hard to the downside starting around 2pm EST. At the time, it wasn’t clear if the catalyst was a speech by Fed President Neel Kashkari in which he said the…
In a previous blog, I defined the culture of nihilism as follows: We live in what I have come to term “the culture of nihilism”. It is a culture characterized by self absorption, selfishness, lack of concern for others, incivility,…
In “The Market Will Soon Hit An Air Pocket And Drop 20% In A Matter Of Months” (Thursday March 28) the second reason I gave for the coming crash was: Monetary policy acts with a lag and will hit the…
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:…
On any given day, Elon Musk might be the hero or the villain. Call it the duality of Musk – part of the reason he confounds both supporters and critics alike with achievements that amaze and comments that appall. –…
For most of my professional investment career beginning in 2007, I’ve been a gold bull. Having studied the work of the great Austrian economist Ludwig von Mises in college, I early understood the fundamental role monetary policy plays in the…
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…
When I was a young man, the country singer Tim McGraw had a song called “The Next 30 Years” in which he articulated the lessons he learned during his first 30 years and how he’d make the next 30 better….