On Monday, April 29, the S&P 500 may close at an all-time record peak. Yet very few folks seem to be talking about “selling high, and buying low.” If anything, a number of respectable analysts cheerily predict that any efforts to sell into market strength in May will be met quickly with a steady demand [...] [...more]
In a “Then and Now” piece, the Wall Street Journal published a number of fascinating statistics. “Then” represented October of 2007… the last time that the Dow Jones Industrials Average notched nominal highs. “Now” represents March of 2013… the first time that the price-weighted index ever closed above 14,250. Household income has slipped 5.6% since October [...] [...more]
As long as interest rates remain low, excess money eventually moves into riskier areas on the spectrum. Higher yielding bonds, convertibles, preferreds, stocks… they all benefit. Of course, if fewer people buy treasuries because they pursue greater risks, the Federal Reserve must continue to offset waning demand. Is $85 billion per month enough? It better be. Consider [...] [...more]
