Look at that market today. It’s over, we’ve defeated inflation. Just look at it; we’re at a 4% rate. That’s great, isn’t it? I’m not so sure so the investment philosophy embarked upon years ago, for me, remains intact.
Citadel founder Ken Griffin said the Federal Reserve risks a hit to its reputation if it cuts interest rates too quickly. “The Fed needs to have the message that they will put the inflation genie back in the bottle,” he said. “If they cut too soon, I think they risk losing credibility around their commitment to a 2% inflation target.” He also echoed earlier comments from billionaire investor Stanley Druckenmiller, who criticized US Treasury Secretary Janet Yellen over what he deemed her failure to capitalize on near zero interest rates by selling more longer-term bonds. He makes sense, doesn’t he?
As The Beach Boys” recorded in 1966, “Wouldn’t It Be Nice” and yes, it would be nice if the world would be in peace; interest rates would decrease much further; and target inflation hits its real target of 2%. I don’t see it but many in today’s market do. I hope they are right but I have my doubts. People and markets are fickle.
I’m taking advantage of this market action today and trust my macroeconomic theory coupled with today’s geopolitics prevail. Yeah, it would be nice to be a bull but I’ll stay right where I’m headed. It ain’t over until the “fat lady” sings and although she’s in a “warm up” phase she’s just not ready to start mouthing he words. She still eating far too many “mushrooms”.
I’m just about finished with the infamous “index” that in its dust covered, hard back book format turns the first “The Ticker’s Bible” into a textbook one can rely upon. I’ll give you a word of advice, “do not try to write a book” on your own. 55+ years of being involved in this investment and trading world is essential. Back to work for me and I trust for you as well. The final product is close to a reality and you’ll be the first to see it live and in print when it’s finished. Well, second, my better half is truly first.
This one’s for me and for you as Ace sang it well in 1974, “How Long Has This Been Going On”. Dad knew me well; this is a labor of love I began more than 55= years ago. He was right, if you do what you love you never really work. I’ve loved this industry for all of these years. Time marches on but history repeats itself. Take the time to do your own due diligence and to arrive at your own conclusions. No one’s ever right or wrong and that’s a good thing. Being true to your own beliefs is what counts.