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Wealth Management Wire
bubbles Copyright Ben Hoskins, Getty Images

Big, Fat, Ugly Bubble

The election just made it worse.

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From the Blog:
There can be no standardized path to excellence in a field that is so heavily dictated by chance. Whether you believe the markets are perfectly efficient and follow a purely random walk or not (I do not), we know that luck trumps skill in investment outcomes. Let me say that one more time: luck trumps skill in investment outcomes. READ MORE
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"We are in a big, fat, ugly bubble." - Donald J. Trump

If Trump is right, the election just made it worse.

Of course, I'm certain that if Trump were asked what he thought of the market now, he'd be singing a different tune. Since Trump won the presidency, small-cap stocks and cyclical sectors (SPHB) have been on an absolute tear. We went from investors fearing a Trump Crash in the S&P 500 (SPY) to a Trump Melt-Up. The narrative changes as… Read More …

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