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July – 2017 Newsletter

July saw a continuation of the stock market’s disconnection from economic realities, and that trend reached new heights of irrationality in early August when the Dow Jones Industrial Average hit 22,000 for the first time ever.1 As Wall Street cheered, Donald Trump quickly claimed credit for the milestone—in truth, the market has been on an emotion-fueled upward trend for more than eight years. Though Trump’s election did add more fuel to the rally, the reality is that corporate earnings and other economic indicators continue to lag far behind the overinflated market.

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December – 2019 Newsletter

November – 2019 Newsletter

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