As regular readers are well aware, our forward expectations for stock prices depend (1) on the amount of surplus liquidity in the financial system, coupled with (2) the outlook for...
As one who has written more than fifty year end letters to clients and friends, I can attest with total confidence that most of these efforts are exercises in futility....
During October, the SP 500 Stock Index rose 2.0% to a level of 3037.56, which represents a year-to-date gain of 21.2%. The principal driver of the October gain has been...