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Tuesday, November 14, 2023

The Market Today -- A "Goldilocks" Economy -- November 14, 2023

Locator: 46048INV.   

 Clearly this is a day that one needs to watch the entire twelve hours of CNBC.

I've never seen this before: literally, in the middle of "Power Lunch," the host halted the discussion and was dumbfounded to see the Russell 2000 up 5%. That just never happens.

The tone of the discussion changed completely. 

One might argue "irrational exuberance," but that's something one never sees on CNBC. Wow.

It was most fun seeing fund managers trying to explain why they have been on the sidelines and continue to remain on the sidelines out of an abundance of caution. Okay.

But today, the big anchors on CNBC all agreed: there is something different about today's market.

Folks who focus on a recession seem to forget that "everyone" is now working (many with jobs), and "everyone" is making money.

For investors, the market today provides an opportunity one seldom sees. 

I have some thoughts on investing in this market, but this is not an investment site, so I will not post those thoughts.

Perhaps more as the day progresses. 

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Wow, there has been a lot of great commentary today.

The huge takeaways:

  • a classic bull market since 2012
  • already in a Santa Claus rally
  • too many folks have mis-allocated too much of their portfolio into cash (my favorite chart)
  • investors don't need the Fed to lower rates; the economy is managing very, very well
  • those on fixed income are doing well

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