The following chart, making the rounds lately, suggests an unprecedented level of savings among Americans. The problem is that it is an illusion amid the reality...
During the past couple of weeks, I have discussed the rising levels of exuberance in the markets. Importantly, that exuberance combined with surging margin debt levels warns...
In 2019, I discussed the disconnect between the markets and the economy. After years of Central Bank interventions, stock markets have soared to record highs, while...
In the later stages of a bull market advance, the financial media and Wall Street analysts start seeking out rationalizations to support their bullish views. One...
In this issue of "So Far, The Bulls Are Disappointed In Santa." An Administrative Note Only Two-Days Left For Santa To Deliver Portfolio Positioning Update MacroView:...
"Maybe this time is different. Those words, supposedly the most dangerous to utter in the investing realm, came to mind amid the frenzied pops in the...
In October, I discuss how the "2nd Derivative Effect" would mute the impact of future stimulus programs. With the passage of the $900 billion stimulus package,...
As we prepare to wrap up the year, 2020 will go down in the record books as a year of the "unexpected." While no one expected the...
In 2019, we wrote about how corporate share repurchases, or "stock buybacks," had accounted for nearly all buying in the market. A year later, that significant...
Recently, President-Elect Joe Biden named Janet Yellen to be his administration's Treasury Secretary. Yellen quickly proclaimed the reason "I became an economist was because I was...