Chart o’ the Day: LOL-atility

Mike’s like “If I told you at the beginning of this year we would have massive political volatility from a starting CAPE of 28, you would probably be like ‘Oh s*** there’s going to be a ton of stock volatility too!’ But that’s actually not what’s happened at all.” Okay, I paraphrased him, but read…

Superficiality

You’ll often hear a pundit make the comment that “earnings should be strong” for this sector or that market. It’s meaningless absent the context of expectations. If earnings are strong, but the market expects them to be strong, then this pronouncement has not only zero value for the listener, but probably negative value. This sort…