Tough Year

Fools Market –

You are a fool to believe that the Fed’s path is sustainable, and that infinite QE will not come with a very dear price.

But you are a fool not to ride the wave of liquidity it provides.

You are a fool not to notice the problems in Europe and Asia, and to think that they will not spread.

But you are a fool not to realize that this will mean money flowing to the U.S.

You are a fool to put money into high-flyers with ridiculous multiples, like AMZN or CMG.

But if you don’t, you will underperform the market badly.’

Oil can’t be this high with abundant supply and slowing worldwide growth…  Unless the middle east heats up, then it will go higher.  Either way, you will be proven a fool.

Precious metals would be prudent, given the monetary shenanigans of the world.  But you have been proven a fool if you still own the miners.

And if you throw up your hands and go to cash or bonds, you are clearly a fool because of their negative real yield.

Curiouser and curiouser.  

And I am sucking at my job.