Something’s Gotta Give (Big-Picture Trends For The New Era)
As should be abundantly clear to anyone who took time over the weekend to read
As should be abundantly clear to anyone who took time over the weekend to read
Fed decisions and post-meeting press conferences have a way of turning out anticlimactic. Or maybe
“Truth be told, I kind of like – I can’t believe I’m saying this – I actually think I’m bullish on stocks”.
“I must confess the notion of buying the SPX near 3000 sounds silly”.
“There is only one way to pay.”
“…fool me once, shame on — shame on you”.
“Let them eat stocks”.
“If the Fed is reluctant to go to negative rates, will it prefer to buy equity ETFs?”
Where’s your damn free lunch?Â
“Mind-spinning”.
“I am certain of the denouement, but it is possible its date is vastly longer than my career”.
“I’m not sure what to make of all this except…”
“Forced to consider the latter, let us not make the same mistake with our investments.”
Who needs the real thing, anyway?
“Most of us believe in the free-market system as the best allocator of resources.”
“It is never different this time.”
Better to remain silent and be thought a fool than to speak and to remove all doubt.
“These are administered markets.”
“Maybe direct Fed buying of the S&P might break the link.”
“…waiting for the bottom can keep investors from making good purchases.”
Welcome to the future. How do you feel?
“The point of equity funding over debt funding is it does not need to be repaid.”
It sounds like science fiction – but here we are.
“Now of course this is all coming into the expected ‘peak COVID’ shock”…
“We are experiencing the end game of the great debt super cycle”.
“This is a very different animal”.
“Notwithstanding that professionals who sell rate volatility for a living have been carted off on a stretcher (and not from COVID-19)”…
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