I had a very interesting couple of days last week. On Friday, as the equity markets were soaring, someone that had worked for the government, said that the markets were too high and will probably melt down. On Saturday, Jean & I were at a “Ugly” sweater Christmas party. (My lovely wife was so good in her design on a sweater that it won 1st prize. Guess who was wearing it? Me.) While talking to one person there, the conversation eventually got to the economy. This person just blurted out they hated Trump. Then Sunday I read an article from the Wall Street Journal, about the record amount of withdrawals from the equity mutual funds and ETFs and moved into bonds and money markets. BTW, that’s a good sign this bull market has further to go. And, it must have been a tough time in the New York Editorial room. A lot of gnashing of teeth and pulling of hair but they finally admitted they, along with almost the entire media in the country, were wrong about the economy and President Trump.
As I said last week, I have no idea what the future may bring. Yes, we might have a bear market in equities. Yes, we may have a recession heading our way. But, for some reason, facts seem to get in the way of negative thinking. I hope you enjoy the attached article. I always appreciate feedback, so let me know what you think.
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