“Safety’ is a tricky and paradoxical concept. The safe assets are often the ones most people regard as hopelessly risky.”
– Jim Grant, acclaimed author of Grant’s Interest Rate Observer
POINTS TO PONDER
1. The chart shown below, courtesy of the financial blog Hedgopia, vividly illustrates the incongruity between US capacity utilization (essentially tracking how “maxed out” the economy is) and the Fed’s key overnight rate.
“Safety’ is a tricky and paradoxical concept. The safe assets are often the ones most people regard as hopelessly risky.”
– Jim Grant, acclaimed author of Grant’s Interest Rate Observer
POINTS TO PONDER
1. The chart shown below, courtesy of the financial blog Hedgopia, vividly illustrates the incongruity between US capacity utilization (essentially tracking how “maxed out” the economy is) and the Fed’s key overnight rate.
“A stable market breeds complacency. Complacency breeds bad investing behavior. Bad investing behavior breeds regret.”
– The Motley Fool’s Morgan Housel
“Common sense is not so common.”
– Voltaire
What’s that smell? If you detect a distinct odor of smoke in the air, it’s likely coming from that blazing source known as the S&P 500.
Important Disclosures
This report is for informational purposes only and does not constitute a solicitation or an offer to buy or sell any securities mentioned herein.
“Most great investments begin in discomfort…bargains are usually found among things that are controversial, that people are pessimistic about, and that have been performing badly of late.”
– Howard Marks, one of the world’s finest money managers
Wild Woody. Curmudgeon. Bully. Hot head. Sore loser. Whiner. Winner. Those are all adjectives that could describe one of the most successful college football coaches of all-time: Wayne Woodrow “Woody” Hayes.
