vrijdag 6 oktober 2017

What to Do With Money Today... Besides Enjoy It

By Jim Grant, editor, Grant's Interest Rate Observer
Friday, October 6, 2017
"Short Sellers Retreat Amid Rally," ran the headline in the Wall Street Journal.

Curious readers stopped and stared. It was the premise of the headline that arrested them. Who knew that there was even one bear left to give ground at the 100-month mark of the post-2008 levitation?

El toro is the topic at hand. It's a most unusual bull market (we count as one the updrafts in stocks and bonds). An unzestful, low-volume, and low-volatility affair, it seems to belong on a psychiatrist's couch. We write to catalogue its singularities with the purpose of addressing the always pertinent question: What to do with money besides enjoy it?