No Free Lunch

No Free Lunch

Disclaimer: Your capital is at risk. This is not investment advice.

AAA: November Edition

Most stock markets rallied last month. On average, the rally was of 16% but after it was over they are all still down 10% this year to date. The rally is not the start of a new bull move but a bear market rally. It will probably continue through December but early in the New Year, the bear will resume. Market values are too high and property values totally extreme. To be affordable, either wages must rise or prices must fall. There is a very high probability of a recession next year and a hard landing to the economy. Do not let the rally seduce you into optimism.