Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Since September 24th, the Dow Industrials (shown below by way of DIA) has added thousands of points because the economy is totally healed and headed for the greatest year ever due to ceaseless asset inflation by the Fed.
Call it the Peloton rally, if you like. This one stock neatly sums up what’s been going on since September 24th. Here we have a company that sells stationary bicycles (with a recurring monthly fee) that has gone up 50% in just a few weeks, reaching lifetime highs virtually every day. Their market cap is $35 billion. Of course, they’ve never earned a single penny.
Feel like getting your heart broken? It’s easy. Go to Slope’s Woulda Shoulda Coulda page. Punch in the ticker JKHY with a purchase date of 1/1/1990 (thirty years ago) and a purchase amount of a very reasonable $10,000. Not a huge amount. Something most of us surely could have scrapped together. And then weep at the results.
Twenty. Five. Million. Dollars. It puts even Amazon to shame. You say you had $100,000 to invest? Cool. That’s a quarter BILLION bucks.
If the market gods wanted to tease any surviving market bears in the cruelest way possible, they managed to do it twice over just the past few days. Last week, with the President getting Covid (end result: NOTHING) and then, just days letter, the President saying “No Dice!” to any kind of stimulus package (end result: NOTHING). Someone – – and I think his last name rhymes with “Owl” – – really, really, really wants this market to keep chugging higher through Election Day. It’s sickening and boring at the same time.