Summer Update
Summer Lull It’s been a while since I’ve checked in. July and August are the “depressive months” for teachers (mostly kidding). While I’ve been devoting more attention to my full-time duties, I’ve stayed as in tune with the market as ever. By mid-summer, I was astonished by the resiliency of this bull market. It has digested uncertainty after uncertainty and continued to push forward. It’s as if it’s immune to policy, geopolitical, and economic turbulence — and there’s been plenty of that. Federal Reserve leaders once again gathered in Jackson Hole, Wyoming — the annual summer get-together for top central bankers — to discuss future economic policy. (I should’ve been a central banker rather than a teacher.) It seems rate cuts are on the horizon. Markets were thrilled with this signal on Friday, but have since pulled back. I have no clue what the near-term macroeconomic picture will look like. Truly, nothing would surprise me in the next several months. My focus remains on identif...