Today I posted my two-hundred-and-fifteenth YouTube video: Trend of the Week Nattering Nabobs of Negativity
This week’s Trend of the Week: Nattering Nabobs of Negativity. Spiro Agnew’s alliterative expression comes to mind as I listen to institutional Wall Street and big banks discussing the idea that we have not yet seen the bottom of this market and we could hit another big downturn in the first half of 2023. In the long term–February that is–I agree. But I think we’re currently in a very short-term period where investors decide to ignore the long-term warnings and look to window dress portfolios (and maybe pick up some gains) before the end of the year. This short window of time will likely begin after the December 14 Fed meeting and run to the end of the year. As January and the new year rolls around, investors may finally come to grips with the warnings from banks and I’d bet that, true to form, they’ll try to beat the crowd to an exit. Pay attention very carefully to how you’re positioned over the next month.
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