Week-in-Review (expressed in YoY terms): Mon: New Year’s Day (observed), S&P closed; Tue: German CPI surges +1.0 to +1.7% (3yr high), German 6% unemployment steady at 30yr low, Ford scraps plans to build $1.6bln Mexican factory citing Trump, Congress withdraws bill to eviscerate Ethics Committee after Trump tweet, Trump tweet threatens GM with import duties on Mexican-made cars, US credit card write-offs hit reco
Hope all goes well… “Never short markets that are rising for reasons unknown,” said Yoda, high in the Rockies. “And don’t buy markets that are falling without explanation,” he continued, looking out across open landscape, snowfields shrouding the jagged terrain in mystery. “There is no more powerful force than the unknown.” Our seven-year equity rally has lacked a story to ignite imaginations, passions. Caution has p
Hope all goes well… Snuck up to The White Mountains. To get a little altitude, read a couple books, and ski some New Hampshire Blue with Mara and the kiddies. “I can’t ski this, I can’t slide this, you must be freakin’ joking here, I’m gonna die!” screamed Teddy, 20 yards above me on the trail, frozen atop a solid blue waterfall, perfectly placed in the middle of an intermediate trail. “You think he’ll really die?” w
Week-in-Review (expressed in YoY terms): Mon: Boxing Day, S&P unch; Tue: Abe meets Obama in Pearl Harbor, Japan retail sales +1.7%, Russia calls US decision to arm Syrian rebels a “hostile act,” Pakistan defense minister threatens Israel with nuclear response after reading fake news, S&P +0.2%; Wed: China industrial profits +15%, Terrorist bombing at China communist party offices in Xinjiang, Japan vehicle pr