Life, the Universe and Everything…2nd Quarter 2022 Commentary
Last Friday, as most were getting ready for the long July 4 holiday weekend some of us were contemplating what to say in our quarterly newsletter. Compiling end of quarter data and sifting through a myriad of historic facts. And as we did so some interesting information came to light.First, The Dow and S&P 500 posted their worst quarter since the first quarter of 2020 when Covid lockdowns sent stocks tumbling. The tech-heavy Nasdaq Composite was down 22.4% for the second quarter, its worst quart
2nd Quarter 2022 Market Review
Market Quarter Review The S&P 500 Index (“index”) closed June 2022 at 3,785.38, 21.08% below its all-time closing high of 4,796.56 on 1/3/22, according to Bloomberg. The S&P MidCap 400 and S&P SmallCap 600 Indices stood 22.05% and 23.06%, respectively, below their record closing highs as of month-end. All three indices are in bear market territory, which is defined as a price drop of 20% or more from the most recent peak price of a security or index. S&P 500 Index posted a total return of -19.97
Lock downs didn’t work. We must not now follow China into a never-ending lockdown nightmare.
A few months back I mentioned I dropped our local Chicago newspaper in favor of a more balanced English paper. Today I want to highlight a piece from their paper (which we would probably never see in Illinois) as it is beginning to show that people, or at least some people, are willing to discuss the horrible policy mistakes of COVID lockdowns. Mental health, physical health and economic health were all derailed by the policy. As we learn to live with a new disease, we must not expect our electe
Recession. Now? Tomorrow? Ever?
Had lunch today with an old friend. The topic of recession came up. Seems to be on most everyone’s mind as its all the talking heads comment on.(aside from gas prices). My take is that we are probably headed towards one…as we always are….but not sure when. ( please read my previous post entitled So what exactly is a Recession? And why does it sound scary??? to get an understanding of what the topic really means) Of course, as we were aware but chose to mindlessly forget, elections and polic
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Weekly recap of the market…from MT Newswires
Week of Jun. 6 through Jun. 10, 2022 The S&P 500 index fell 5.1% last week as inflation data showed US consumer prices rose more than expected in May, adding to investors’ concerns ahead of a rate policy meeting being held next week by the Federal Open Market Committee.
The market benchmark ended the week at 3,900.86, down from last Friday’s closing level of 4,108.54. This marks the index’s second weekly decline in a row and puts the S&P 500 down 5.6% for the month of June to date. It
And so it begins.
I dropped the Chicago Tribune earlier this year as I was sick of politics being passed off as news. Instead I started reading the Telegraph out of London. They are probably as political but at least they don’t make excuses for bad decisions by the Illinois governor.
this morning the headline for one of their articles was “Housing market shows signs of cooling”.Signs of coolingThe annual pace of increases to UK house prices slowed in May for the third month in a row, a possible sign of cooling
So what exactly is a Recession? And why does it sound scary???
Turn on any broadcast today and you will see the hand wringing and the fear that is in that station’s spoke model du jours eyes. Its not rational fear but it is fear. Its the fear of a recession.The problem is those spoke models really have no idea what a recession is….BUT they dutifully read their teleprompter and tell us that the US is on the brink of a recession which is akin, in their minds, to the end of the world… and we all must be really afraid and hide. These were the same spoke m
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One Contrarian View to all this Negativity
Thanks to First Trust for summarizing some interesting facts about Herd Mentality