If their intention was to cool down the markets, then they failed miserably. Shortly after the Federal Reserve’s much-hyped Jackson Hole speech, stock indices flew to record highs.
Month: August 2020
To tell you the truth, I didn’t get much sleep last night. Part of it has to do with what’s been happening in the markets lately.
Jackson Hole, Wyoming has been the setting of many exclusive Federal Reserve meetings, but none so exclusive as the one that will be held tomorrow for the first time by Zoom.
One thing that really bugs me as a father is hearing my kids fighting with each other, especially when what they’re fighting over is completely inconsequential or is in abundant supply.
Mati Greenspan and I were talking recently about basic investing principles. He was marveling that people are still buying Tesla stock at $2,000 a share. “People don’t understand valuation,” he said.
Seeing the red in the markets today, I have reduced my own exposure to crypto. I’m still waiting on the side with gold, since I really want to time this one right.
Some said it couldn’t be done, but some of us had no doubts. In fact, looking at how markets and evaluation works, in hindsight it seems this was inevitable.
One of the main narratives driving stocks higher at the moment is there is no alternative (TINA).
Learn everything you need to know about trading large amounts of bitcoin over-the-counter using a bitcoin OTC broker.
Of all the crazy market movements today, the most significant involves the U.S. dollar, which slipped to its lowest in two years.