Weekly Market Pulse: Is The Stock Market Peaking?
The Wall Street Journal published an article last week about the concentration of the S&P 500 and why you shouldn't worry about it. The gist of the article is that the index has been more concentrated in the past and calamity didn't ensue so it must be okay now. The author, Jason Zweig, is one of my favorite financial writers [...]
Monthly Macro Monitor: Plus ça Change
The latest government shutdown ended last week, after a mere four days, but that was apparently enough to prevent the Bureau of Labor Statistics from releasing the January employment report. It will be released this week instead (2/11) but I'd prefer if they waited about six months. These reports are one of the most anticipated by Wall Street and are [...]
Weekly Market Pulse: What’s Your Risk Tolerance?
While it seems obvious that the future should feature a lower dollar and gold continuing to outperform stocks, that is far from assured. That is the consensus view and while the crowd can be right for a long time, its clairvoyance is inversely proportional to its size. The more consensus the consensus becomes, the less likely it is to happen. [...]
Weekly Market Pulse: Maybe We Need Our Golden Fetters
This is, in my opinion, the most interesting chart in all of finance. This shows the return from gold versus the total return of the S&P 500 since 1/1/2000. As you can see, gold's return has exceeded that of stocks by almost 3 to 1; it isn't even close. If you had bought gold at the turn of the century, [...]
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