Friday, August 20, 2021

Macro Update: Big Drop in Our Conditions Index -- And -- The Bullish Long-Term Case for European Equities (video)

Early in the video, where I show the history of our index against the S&P 500, I remind the viewer of what I was anticipating back in the day -- that when our index turns red and we turn cautious, in all likelihood the market will rally a bit further. 

I forgot to explain why that might occur: It's simply because the very same data that would have us cautious would spook policymakers into taking measures that would likely boost equity markets in an attempt to inspire the sort of reflexivity that they'd hope would avert an impending economic slowdown. 

Note, when you reach the featured video clip you'll find that it loses a bit of that tinny sound when you adjust the volume slightly lower.

Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust:


Attention Non-Client subscribers: Nothing in this video should be construed as investment advice. The examples expressed relate to portfolio management we perform on behalf of our clients, and, again, under no circumstances are they to be considered recommendations to the viewer.

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