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.
It has been discouraging, to say the least. The small caps have exploded 8% higher since Friday based on………..what?………the promise of yet another miracle cure? Covid ain’t the problem, folks. The economy is rotten to the core, but self-delusion is as popular as disco was in 1977. This is mass hypnosis gone berserk.
The greatest financial innovation we’ve seen over the past twelve months is headline replacement. What was last year’s? “Trade Talk Optimism”, of course! And this year’s? Yep: Vaccine Optimism. And it’s working wonders, particularly with the small caps, which are over 3% higher, more than undoing the weakness we saw just a couple of days ago.
For some perspective (or torture), you can check out the Woulda Shoulda Coulda page. I punch in four common symbols, hypothetically putting $25,000 into each on the prescient day of March 23rd. Let’s see where things stand in just over three months’ time.
No surprise there! Just about doubling. (Incidentally, I’ll add some sums and averages to this page, since they are sorely needed). As for the grotesque wealth inequality, growing by the day, at least the younger generation has figured out the solution: tear down statues.
Seriously, this quarter sucked out loud, (for the bears, at least, in case there are any left) and I’m glad it’s over. Here’s to a Q3 which resembles Q1 much closer than Q2. Honestly! Blech!
It has become quite evident that anyone who dares short this market needs to adopt a “smash and grab” attitude and simply cover whatever positions they have during those rare instances (like last Thursday) when the Fed briefly loses control. The fact we’ve soared about 2,200 Dow points in 36 hours based on absolutely nothing proves that.
