The Best of Kass
Among his posts this past week, Kass explained what Super Bowl ad spending means for stocks and reviewed the past week's economic indicators.
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Gold, Apple and the U.S. Stock Market
Originally published on Friday, Feb. 15 at 11:05 a.m. EST.
Look at the subsequent price drops following gold's high in September 2011 and Apple's high in September 2012.
At those times, investor sentiment was at an extreme.
Now look at the subsequent price drops following those heights.
Gold, Apple and the Stock Market (Part Deux)
Originally published on Friday, Feb. 15 at 12:53 p.m. EST.
Applying Jim Grant's insight to current conditions.
When looking at the stock market optimism today, I am reminded of Jim Grant, who once wrote in Minding Mr. Market:
Progress cuts with a manic edge...in bull markets there is no clear demarcation between progress and fantasy...there is little or no permanent truth in financial markets...financial ideas have their seasons...the higher the market, the easier it is to sell but the more disingenuous the sales pitch becomes...and the biblical injunction about the first and the last trading places often has literal truth.