“Trade what you see; not what you think.” – The Old Fool,
Richard McCranie, trader extraordinaire.
“The big money is not in the buying and selling. But in
the waiting.” - Charlie Munger, Vice Chairman, Berkshire Hathaway
“In my decades of investing experience, I have not seen
such mindless and uninformed speculation as I have witnessed
recently. Indeed, in nominal dollar terms...it is far in excess of the
dot.com boom.” – Doug Cass.
“I never imagined that I would see the day that the
Chairman of the House Judiciary Committee would step forward to call for raw [Supreme]
court packing. It is a sign of our current political environment where rage
overwhelms reason.” - Professor Jonathan Turley, honorary Doctorate of Law from
John Marshall Law School for his contributions to civil liberties and the public
interest.
NFIB SMALL BUSINESS OPTIMISM (NFIB)
“The NFIB Small
Business Optimism Index rose to 99.8 in April, an increase of
1.6 points from March. The Optimism Index has increased 4.8 points over the
past three months since January but a record 44% of owners reported job
openings that could not be filled.” Story at...
JOLTS – JOB OPENINGS (CNBC)
“Job openings popped to a record high in March as
employers struggled to find workers to fill those positions, the Labor
Department reported Tuesday. Even as help wanted jumped from February by
597,000, or 8%, to 8.12 million, hires rose just 215,000, or 3.7%, to slightly
more than 6 million.” Story at...
https://www.cnbc.com/2021/05/11/job-openings-leaped-above-8-million-in-march-a-new-record-high.html
INFLATIONARY TIME BOMB (Business Insider)
“The National Owners Association, an independent group of
McDonald's franchisees, sent a letter to its members on Sunday that blamed
hiring challenges on the "perverse effects of the current unemployment
benefits."..."Inflation is the flip side to all of these
changes," the letter said. "Price increases are happening everywhere
you look and will continue as employers pass along these added costs. We will
do the same. A Big Mac will get more expensive.” Story at...
THE PROBLEM OF PULLING FORWARD SALES AND REVENUE (RIA)
“With no more stimulus in the pipeline, and other supports
fading this year, economic growth will slow to the rate of wage growth. The
problem with all stimulus is that it does not lead to productive activity in
the economy...Notably, the outsized growth of the market reflects repetitive
interventions into the financial markets by the Fed. Those interventions
detached financial asset growth from their long-term correlation to GDP growth,
where corporate revenue comes from. Historically, when the S&P 500 becomes detached from economic growth, a
reversion occurred.” – Lance Roberts. Comentary at...
https://realinvestmentadvice.com/the-problem-of-pulling-forward-sales-revenue/
