Panic!

Like Scary Nights at Universal Studios (where my daughter went this weekend), it really is scary out there. I Walked into the office looking at a 300-point drop  in the Dow and a +10% jump in 10-year Treasuries.

I doubt anyone woke up this morning and decided that sub-2% yields for the next decade is actually a great investment. No, it’s a classic sign of panic.

I have no idea how much further we fall, but it’s not a black hole we’re in.

I don’t believe in catching falling knives (throwing metaphors around this morning), but I see the markets much as my daughter saw Universal Studios: scary, for sure, but actually, kinda fun too (after she exited the park).

• 21 Sep, 2020

  Two (Percent) is a Sad Number

  Last month, the Federal Reserve unveiled its new monetary framework, following an intensive 18-month review. The ...

• 21 Apr, 2015

  Valuation

  Most observers would agree that equities are rich (expensive, overpriced, etc.). Corporate profits are at record highs, ...

• 25 Aug, 2016

  Falling Behind

  It's good to be tall.Tall people tend to be more highly educated, earn more over their careers, are higher in the social ...