Evergreen Gavekal’s Likes/Dislikes for June 28, 2019.
In just six months, the Fed went from hiking interest rates to, as of last week, opening the doors for future interest rate cuts. This makes the hike last December look a bit silly given the stock market was in freefall, economic data was deteriorating, and trade tensions were escalating. To make matters worse, President Trump tweeted it is “incredible” that the Fed “is even considering another interest rate hike” before the Fed raised last December. Since then, the Twitter handle @realDonaldTrump has been exceedingly critical with regards to Fed policy and tightening too aggressively. It’s worth noting that almost every other president in history has steered clear of publicly criticizing the Fed, which makes this situation even more precarious and unprecedented.
Where should I invest if I have between $100,000-$1m? This is a question that many people – millennials and otherwise—grapple with every day, as they feel the pressures of saving for retirement, education expenses, or any number of financial objectives. It gets increasingly complex because in addition to traditional investment institutions, the emergence of myriad digital investment platforms – or “robo-advisors” – there’s a sh#t ton of brands vying for your attention and your Benjamins. It’s all very daunting and confusing – until now.
Inflation is a fickle measure influenced by several economic variables. Over the last 100 years, the rate of price inflation in the United States has swung wildly, from upwards of 20% in the early 1920, to -17% a few years following, to a steadier rate in the low single-digits over the last 35 years.
Evergreen Gavekal’s Likes/Dislikes for June 21, 2019.