The “Economic Boom” Illusion
Upbeat data continues to make headlines. (The not-so-upbeat are relegated to the back pages.) This week it was the +6.4% spurt in real GDP. And, while the financial markets do feel a bit toppy, the S&P 500 still managed to eke out another record close on Thursday, April 29 (4211.47). “Help Wanted” signs continue to […]
As the Economy Stagnates, Equity Markets Pivot
Market volatility has marred the last few equity sessions. The popular indexes all peaked on September 2nd, with the most closely watched S&P 500 down nearly -7% and the tech heavy Nasdaq nearly -10%. But, don’t be fooled by the indexes. Anyone with a diversified portfolio has likely had a significantly different experience in 2020. […]
Are markets overvalued? Is there another bubble?
It is a mistake to think of the financial markets as a single entity. To answer the question as to whether the markets are overvalued or in a bubble, we have to examine each market separately. In the end, the only market that really appears to be in a bubble is the fixed income market. […]