Call it the "bearish billionaire" curse. One month ago, MarketWatch penned "7 billionaires who are worried about a stock-market correction" which listed Carl Icahn, David Tepper, Howard Marks, George Soros, Jeff Gundlach, Warren Buffett and Eliot Singer as some of the world's wealthiest people who are losing sleep over the S&P trading at all time highs.
World stocks hit new record highs on Tuesday amid a continuation of Monday's risk-on theme which unleashed a dramatic relief rally on easing North Korea tensions and signs that Hurricane Irma caused less damage than feared (which according to Keynesians should be GDP negative). The MSCI All-Country World Index gained 0.2%, hitting the highest on record with a fifth consecutive advance.
The last month has seen "Fire & Fury" threats, Gary Cohn resignation concerns, North Korean missiles over Japan, Hurricane Harvey, North Korean Hydrogen Bomb tests, and now Hurricane Irma... and stocks are higher...
Authored by Lance Roberts via RealInvestmentAdvice.com,
Recently, Ryan Vlastelica penned a column suggesting investors should simply be “apathetic” when it comes to their money.
“Apathy doesn’t sound like a sensible investment philosophy, but it may be one of the most successful approaches a person can employ to grow wealth.”
Listen. I get it.
Submitted by Francseco Filia of Fasanara Capital
Measuring the Bond Bubble
A key conviction of ours is that we live through a Twin Bubble in asset markets: an Equity Bubble, particularly in the US, and a Bond Bubble, particularly in Europe.