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
People tend to make sense of things by attaching it to a storyline or narrative. A story has an account of how life should be, an explanation of how it got thrown off balance, and some proposed solution to put life right again. When we discussed worldviews in previous chapters,
I hope everyone had a great holiday season. With the start of the new year, I'm going to be starting a new Bible study. For most of the year, we'll be going through the letter of James. While this is a shorter book in the Bible, it is filled with
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
