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.
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Evergreen Gavekal’s Likes/Dislikes for June 21, 2019.
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Evergreen Gavekal’s Likes/Dislikes for June 14, 2019.
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Being old—like north of 60—doesn’t come with many advantages. However, in the investment game it does have at least one: being “mature” enough to remember past financial and business cycles.
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Invincible. Infallible. Unshakeable. When the tech heavyweights stepped up to fight nearly ten years ago, they were substantially leaner in almost every measurable category. Market caps were deflated following a bloody bear bath; earnings were paltry and, in many cases, non-existent; and influence on Main Street, Wall Street and Capitol Hill were meaningful but not, by any means, overwhelming.
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