Should You Be Worried About an Elevated Shiller P/E?
In our discussions with investors, the Cyclically Adjusted P/E (CAPE), or Shiller P/E, has come up numerous times as a risk for the U.S. stock...
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Republican Tax Cuts Will Cause Deficits to Balloon, and Bonds to Sell off Dramatically in 2018
-Soaring ISM (PMI 58.2; new orders 64) point to a sharply strengthening US economy in 1H 2018, with scant remaining slack in the labour market. The...
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Things You Don't See At Market Bottoms: Rational Exuberance
It is said that while bottoms are events, tops are processes. Translated, markets bottom out when panic sets in; therefore, they can be more easily...
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US: Manufacturing Boom! - Part III
As expected, the ISM manufacturing report for September was an absolute blockbuster. At 60.8, the headline index equalled its second-highest...
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Trump's Belated Tax Proposal: Flimsy, Hence Unlikely to Be Passed by December as Needed
-Trump tax cut proposals 3 days before the end of this budget year will result in revenue losses of US$5.3tn over 10 years. The Senate has passed...
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