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Under The Lacquer, A Benighted Market
At this point, the narrative is so familiar that just about anybody could pen a passable bear case centered around the narrowness of the US equity rally in 2023.
Recapitulating feels pointless, but somehow obligatory. Now that I think about it, a lot of obligatory exercises are pointless. If it's rote it's drudgery, and it's all rote.
Anyway, anybody who's anybody (and also a lot of nobodies quoting somebodies) is engaged in a now daily ritual that entails lamenting benighted market breadth. A
Current market conditions feel like the last few years of summer out west. There is no shortage of kindling in the market and we are all sitting around waiting for the spark that starts the wildfire. It seems to me that now is as good as time as any to just stay the course with index funds and maybe a little extra dry powder in a high-yield savings account. As much as I enjoy impressing strangers on the internet with prescient calls about mega cap tech and AI investments, the boring investment is still the best one and all other comments are meant for entertainment purposes only.
+1
Investor sentiment is on the rise after a long bear market.
https://imx.tdameritrade.com/imx/p/imx-pub/
We could see cash flows back into equity funds.
Lacquer is a great word too. I’ve done a bit of wood working (for bonsai display, naturally), and lacquer features prominently.
You’re definitely writing well sanded headlines, while not varnishing the truth. Everything dovetails nicely, one paragraph joined neatly to the next. Anyway, you nailed this one. Glad you didn’t screw it up.