Today the S&P500 closed at a record high, but that doesn’t necessarily point to smooth sailing ahead. During the first 10 trading sessions of the New Year, the index has closed down just as many times as up. The daily closing gains/losses were near mirror images of each other. Today’s record high close was onlyContinue reading “Hyping the record close”
Author Archives: John Pugliano
What worked in 2013 probably won’t in 2014
It’s said that at the start of a new conflict the Generals go to battle using old tactics from the previous war. Investors are often guilty of the same sin. Social media, Biotech, IPOs, dividend paying stocks- all high fliers in 2013. As was much of the market. At the other extreme, commodities were mostlyContinue reading “What worked in 2013 probably won’t in 2014”
Fed’s balance sheet $4 trillion and growing
This week the Federal Reserve announced their meager QE3 taper of $10 billion per month and no change to the discount rate. No surprise if you’ve been reading my articles. Their balance sheet is over $4 trillion and growing at least $75 billion per month. Not to worry. The money was created out of thinContinue reading “Fed’s balance sheet $4 trillion and growing”
Much ado about the Fed
I keep writing about the Federal Reserve’s impact on equities because in my opinion they are the sole source driving the markets. The Fed’s easy money policy has so depressed interest rates for so long that the distortions have been felt globally. The current market downtrend, like the others this year, is due to trader’sContinue reading “Much ado about the Fed”
Obamacare raises my health insurance premium by 50%
Like many of you, I received a notice from my health insurance provider telling me that my current policy wasn’t Obamacare compliant- therefore the new premium would be 50% more. The increased cost is to provide mandated services like maternity coverage- which I can guarantee my wife doesn’t need. Forget about the loss of personalContinue reading “Obamacare raises my health insurance premium by 50%”