Last week I wrote how investors were in "Fantasyland" as earnings expectations not only do not reflect any sort of economic slowdown in 2023, but are pricing in an ABOVE AVERAGE growth rate. Two weeks ago we illustrated how our economic model is at best predicting a BELOW AVERAGE growth
Last week I walked through our economic model in great detail. With the markets closed on Monday for Martin Luther King, Jr. Day today's musings will be quite brief.
Let's start with the DATA we presented last week (click here to review) which clearly shows the economy is at best
Wall Street likes to throw around a lot of terms as they attempt to form a narrative for their clients. Often times the narrative begins to shape the analysis done by those firms. For instance, I mentioned last week the forecasts for the top Wall Street firms. JPMorgan & BMO
I think most investors are relieved to put 2022 in the rear-view mirror. 2022 started with so much optimism from most market participants. The Federal Reserve threw cold water on the markets the second trading day of the year when they warned about the need to fight inflation. Both stocks
A year ago we called 2021, “the year everything went right.” We discussed how all forces aligned to drive the stock market higher. The primary driver was $5 Trillion in stimulus from the government combined with another $5 Trillion of money poured into the Wall
