...every exuberance feels good at the top, its when we can only think it will go higher. We felt the same with Gold and Silver weeks ago.
...but every exuberance can quickly retrace, unfortunately and it will hurt.
...equities have it very good since Oct 23. Even if we do not expect a full blown massive crash, a notable correction is well overdue.
...if we have people leaving the party in an orderly manner progressively, there may well be hope instead of everyone wanting to leave at the same time. It looks like the latter at the moment.
CAPITAL PRESERVATION SHOULD BE YOUR #1 OBJECTIVE FOR 2024-2025
The media continues to focus more and more on AI and raised year-end targets for the S&P 500 and less and less on the yield curve.
Given the significant and extended inversion of the yield curve and deteriorating long-term price action in the S&P 500, preserving your hard-earned capital should be priority number one.
The four most dangerous words in investing are, “it’s different this time.”
