The question on “everyone’s” mind, whether the back or the front, is where will the stock market be in two, three, six years? This week, in what I hope is a short Thanksgiving letter, I will talk about why that is simultaneously one of the most important and irrelevant questions you should be thinking about as we come into the holiday season.
Read morePoliticians and think-tank wonks of all stripes love to condemn government “waste, fraud, and abuse.” But saying it isn’t hard. Who is the opposition? No one says we need more waste, fraud, and abuse. We’re all 100% agreed all three are bad.
Read moreTwo weeks ago, I opened this letter by noting the election uncertainty, once over, would give way to a different uncertainty about what comes next. That’s where we are now.
Read moreI went to bed “early” on election night, around 10:30 pm. We are in the five months of the year where Puerto Rico is one hour ahead of Eastern time, and nothing I was seeing made me think it would be an early night. And by that I meant 3 or 4 am. I woke up as usual, made my coffee and fired up my iPad to see the news. It was quite a stunner.
Read moreAnyone else ready for the election to be over? This uncertainty is exhausting, no matter how you want it to end. But sadly, it won’t really end. We will just transition to a different uncertainty over what will happen next. I will offer my thoughts on the election at the end of this letter, after setting the stage.
Read more
Experience the legend—join one of the most widely read macroeconomic newsletters in the world. Get this free newsletter in your inbox every Saturday!
