Connecting Dots. Literally
Almost without exception, the nearly half-decade (and it's hard to believe it's been that long) I've spent writing about markets for mass public consumption has been a psychologically rewarding experience. I thoroughly enjoy it. And that's really saying something. Because I don't thoroughly enjoy much.
One of the only things I don't enjoy about it is the necessity of having a Twitter account. Contrary to what you might be inclined to believe, you don't actually need to follow any individual peo
Well put. Thanks.
Here is what seems so strange. The Fed rejects calendar guidance. The FAIT is sort of a vague state based guidance, but so loose and ill-defined that its not really guidance at all. Yet, markets, at least initially were shocked by the DOTS, which is completely silly and yes, I agree that they are not helpful and should be thrown into the dust bin. But the last week does tell us something interesting–both the Fed inspired carnage and the following “crash up” —that the level of fragility in this mother of all carry trades is sky high.
I think the Fed would be fine with a much needed 10-20% market correction / tightening event given present valuations…seemingly small, normal, and healthy, but would feel so worse in our present conditions…the dot fixation then might dissipate some then, and they may even slide back a couple quarters…
…and sorry, but for kicks … “Get your hands off me you damn, dirty dots…!”