Investors Remain Optimistic in the Face of Declining Stock Market Prices

Last weekend, I said that risk assets were getting frothy, and showed that speculation was rampant in several financial sectors.  I also pointed out that essentially the entirety of the total return to investors for several years, and perhaps for several decades, might be able to be explained by the appreciation in price (decline in [...]


Too Much Complacency in the Stock Market

I picked up two vibes today during the midst of the stock market downtrend that made me add to my short positions and, with more firepower, add to my Treasury holdings

Here we were past midday, down over 1.5% on the Dow and SPY, with clear global deceleration in economic activity, a highly valued stock [...]