Tag Archives: stock market

Why are equities, gold, and the dollar surging?

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July 30, 2024 — The US stock market is on a tear.  Since the start of this year, January 2024, the Dow Jones , S&P 500, and NASDAQ have each repeatedly set new all-time records.  Indeed, the trend in stocks has been strongly upward for the last two or three years.   For instance, the S & P 500 is about 40 % above where it was  in January 2021, when Joe Biden became President [43 % higher].

The price of gold has also shown a strong upward trend, reaching $2,470 an ounce on July 17, the highest in history.  Why are these assets so elevated? read more

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Bogle, Bubbles & the February Market Correction

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March 3, 2018 — I am honored that John Bogle has commented on my recent column, ”The February Stock Market Correction.”  In it I repeated my claim that 2017 saw a “bubble” in the #VIX – i.e., a market perception of low risk in US stocks that was unjustified by fundamentals – and I added that the bubble had burst in February. Bogle of course is the genius who made low-cost index #mutualfunds widely available.  His comment & my reply are at Barron’s: “Bogle on Bubbles.”. read more

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China’s Slowdown

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(Jan. 22, 2016) Investors worldwide are closely watching the steep decline in China’s stock market. The Shanghai Stock Exchange Composite Index is down more than 40% since June 2015.

The reason observers are concerned is not because they themselves are invested: China’s stocks are overwhelmingly held by Chinese themselves.  Rather, many are interpreting it as evidence that China’s economy is going down the tubes.

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