- Could a recession be close?
- Could we have an unprecedented equity bear market without a recession?
There are yes and no responses to both questions obviously. So what should we do?
Well you know me. I think the current price of equities implies that the market’s answer to both questions is a “HELL NO!”
So if one thinks that the answer is less definitive than that, you have to trim some exposure here. You’ve been gifted a second chance to lighten up at levels that are very optimistic. Don’t dwell on what you could have done at the all-time highs.
No crying over spilt milk.
Have a great 3-day weekend, see youTuesday
,-Mike
