It typically is a terrible thing when stocks go down. Whether it is a quick and nasty bull market correction or a protracted and grinding bear market, it has the potential to destroy wealth and damages egos.
“Anyone can get old. All you have to do is live long enough.” Groucho Marx
“The more I see you, the more I want you.” Harry Warren and Mack Gordon
Go, and beat your crazy head against the sky
Try, and see beyond the houses and your eyes
It’s okay to shoot the moon.
–Darling Be Home Soon, The Lovin’ Spoonful
Last week, U.S. stocks rose on reports that the new administration might lower corporate tax rates.
“ Tranquility Base, Houston. All your consumables are solid. You’re looking good in every respect … Everything is copacetic. Over.” Mission Control, Apollo XI
The U.S. stock market has been rising for almost eight years now and, at roughly 16 to 17 times forward consensus-earnings expectations, it seems fairly valued to me.
After a paroxysm of fear at 3 a.m. on the morning following the U.S. election, the American stock market seems to have retroactively cast its ballot for Donald J. Trump.
John Manley, Jim Kochan, and Dr. Brian Jacobsen address the U.S. presidential election, its effect on the markets and the economy, and where to look for potential opportunity.