One Country, Many Reasons

From a Western perspective, many things about China are hard to understand.  For example, a communist government with a market economy, or the "one country, two systems" arrangement between Hong Kong and the mainland. The Chinese stock market is even more confounding.   Quotes flash red on upticks and green on downticks.  There are more share … Continue reading One Country, Many Reasons

Much Ado About Something

The last two months have been choppy for stocks. The S&P 500 is down about 8% and has given up its gain for the year. Emerging markets have outperformed since October, relatively speaking, but remain the biggest loser YTD, down about 16%. As usual, the financial media is searching, desperately, for something to fear. Does … Continue reading Much Ado About Something

Time for Turkey?

Time for Turkey? The Holidays are almost here, but no, I'm not writing about your upcoming Thanksgiving dinner. I'm writing about a Turkey with Lira that's down 90% against USD and an equity market that's down 70% from its highs. TUR data by YCharts When others are fearful Emerging market equities have sold off broadly year-to-date.  … Continue reading Time for Turkey?

Actually, Technically, the Longest

Longest ever? The US stock market closed August to the accolades of  "the longest bull market in history."  By some measures, the S&P 500 achieved its longest rally ever.  Then again, by other measures, it did not. S&P 500, 1927 to 2018  Monthly close, inflation adjusted. Souce: MacroTrends.net There's a lack of consensus on how this … Continue reading Actually, Technically, the Longest

Patience and Profits

Volatility returns Stock market volatility is back. In February this year, the S&P 500 posted the largest single-day point fall in its history, only to rebound with the fourth largest single-day rise in history. All that volatility has some questioning if it still makes sense to invest in the stock market. S&P 500 BEST & WORST SINGLE DAY POINT … Continue reading Patience and Profits