The Morning Call
12/15/20
The
Market
Technical
Monday in the
charts.
Low interest rates
do not justify higher stock prices.
https://www.zerohedge.com/markets/shiller-ecy-justification-sky-high-stock-prices
Fundamental
Headlines
The
Economy
US
The December NY
Fed manufacturing index was reported at 4.9 versus estimates of 5.9.
International
October UK average
earnings rose 2.7% versus consensus of +2.2%; unemployment was 4.9% versus
5.1%.
November YoY
Chinese fixed asset investments were up 2.6%, in line; industrial production was up 7%, also in
line; retail sales were up 5.0% versus 5.2%; November unemployment was 5.2%
versus 5.5%
Other
Update on seven high frequency indicators on
the economy.
https://www.calculatedriskblog.com/2020/12/seven-high-frequency-indicators-for_14.html
Mass evictions expected
at end of January.
https://www.zerohedge.com/personal-finance/expect-most-evictions-history-ban-expires
Ed Yardini on inflation prospects.
http://blog.yardeni.com/2020/12/inflation-was-sooo-1970s-will-it-roar.html
More
on the likelihood of inflation.
http://econbrowser.com/archives/2020/12/inflation-looming-phillips-curve-vs-quantity-theory
Could
stagnation be coming to an end?
https://marginalrevolution.com/marginalrevolution/2020/12/why-did-the-great-stagnation-end.html
Or
getting worse?
EU
wobbles while France holds it hostage.
https://www.zerohedge.com/geopolitical/eu-continues-wobble-while-france-holds-it-ransom
The Fed
Two words.
https://www.zerohedge.com/markets/convoy-investments-bull-market-our-lifetime-explained-two-words
Global negative
yielding debt tops $ 18 trillion.
Bottom
line. Upgrade the quality of your portfolio.
https://alephblog.com/2020/12/11/yield-poison-4/
What Bogle and Buffett both got right.
2020 investing lessons.
https://awealthofcommonsense.com/2020/12/my-2020-investing-lessons/
News on Stocks in Our Portfolios
What
I am reading today
More wisdom from Morgan
Housel.
https://www.collaborativefund.com/blog/sure/
The story of Dave
Brubeck’s ‘Take Five’.
https://www.npr.org/2000/11/19/1114201/take-five
Treasure hunter stays in jail five
years rather than reveal location of loot.
The story of the incredible effort to locate and retrieve the gold in
this treasure ship can be read in ‘Ship of Gold in the Deep Blue Sea’. It is a great book.
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
to learn more about our Investment Strategy, Prices Disciplines and Subscriber
Service.
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