..the more they stay the same. I returned from a 5 day respite to find that government officials are still telling us inflation will subside, oil is still being hammered based on the aforementioned assertion, and we will have a strong Dollar ad infinitum.
Despite the happy talk, markets had a down week following what appears to be the conclusion of the bear market rally. We discussed the termination of this rally in depth in our last issue of the Centsible Investor and positioned our Model Portfolio accordingly.
Interestingly enough, while away, I had the pleasure (or displeasure) of being able to get CNBC. In the interests of relaxation, I tuned in 3 times per day for about 5 minutes each time. I did this to watch the major markets, precious metal prices, energy, and interest rates. Oddly enough, almost every time I tuned in, there was a guest on stating 1001 reason why everyone should now own financial stocks. The blatant pushing of these stocks when the worst economic conditions clearly lie ahead would be humorous if so many people weren’t falling for it.