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TOOO Expensive

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(posted 2023-Sep-11) Why should one take a risk on stocks when the same return (or better!) is available risk-free? It does not get any simpler than that, short of irrational tendencies if not outright innumeracy. Those tendencies have always occurred… Read More »TOOO Expensive

buy the vote

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The performance of midterm election years vs all others over the last 85 years produces an expected pattern that so far matches this year. Since the 1950s, the S&P 500 has never recorded a negative return in the 12- month… Read More »buy the vote

Fear rules the day

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14-Sep’22, Pessimism Rules the day: Pessimism has practical implications, as asset managers are heavily underweight equities. As growth improves and inflation falls, this can lead to sharp rebounds in equities. Only the Fed can spoil the party. The allocation of… Read More »Fear rules the day