Alan Greenspan attracted considerable scorn back in late 1996. This was when he warned, as a few old-timers like me may recall, that the US stock market was caught up in what he called: “irrational exuberance”.
Below are Evergreen Gavekal’s Likes/Dislikes for July 17, 2020.
Below are Evergreen Gavekal’s Likes/Dislikes for July 10, 2020.
Long-time EVA readers may recall the legendary John Mauldin was my inspiration for starting this newsletter back during the housing bubble days of 2005. In fact, the inaugural EVA edition was almost exactly 15 years, and about $15 trillion of Federal debt, ago.
After a cataclysmic hiccup in March, markets rebounded with a vengeance in the second quarter of 2020. In fact, the Dow closed out its best quarter since 1987 on Tuesday, while the S&P and Nasdaq had their best quarters since the late-1990s.