Managing the Art of Bullishness and Bearishness: When Goethe Dined with Beard
In less than two weeks, we will celebrate America’s 250th anniversary since the Declaration of Independence. There have been several paintings that reflect the spirit of America, and the one that is known as “The Bulls and Bears in the Market” reflects America’s...The Atrophy of a Pugnacious Shellacking: Mr. Warsh, Raise the Rates
Mickey came home in the early hours of Saturday. He told his folks that he had crashed the car they had just bought him. That same morning, his father wanted to demonstrate understanding, so they went and bought a brand-new car for Mickey. Three weeks later, Mickey...Market Mosaics & Timomachus: Equity Optimism and Rising Yields
The Agricultural and Industrial Revolutions changed the economic, financial, political, social, and scientific landscapes when they took place in the 18th and 19th centuries. AI is destined to have the same impact. It has already made its significant mark in research...Empyrean Realms and Tawdry One-Arm Bandits: The Commandatore Comes to Dinner
The chart below uses data from the AAII portfolio survey, ICI assets under management, and the Fed’s own data on financial variables. Taking a perspective of forty years, one must conclude that investors live in empyrean stock realms, while systemically departing from...Sign Up for Our Publications
