Weekly Market Recap: Did The Santa Claus Rally Already Happen?
A pullback looks increasingly likely
With such a massive run-up in stocks and bonds in November, should we still expect a Santa Claus rally in the markets this month?
Or did it already happen?
Portfolio manager Lance Roberts thinks that may be the case, or if we do get one, it will be quite mild. Unless a pullback happens soon, which Lance thinks is quite possible.
He's reducing his long exposure and waiting for a pullback at this point.
In this week's market recap, Lance and I talk about the strong correlation between financial asset prices and net liquidity. For much of this year, "stealth" liquidity from sources like the BTFP, the Reverse Repo program, and fiscal deficit spending have helped buoy stocks to near record highs.
Will that continue in 2024?
We also talk about the odds for recession risk, which are becoming cloudier. Experts are now quite divided on the matter.
With such uncertainty, how should an investor consider positioning their portfolio?
Lance shares how he, as a capital manager for clients, is doing so now. He also shares his 10 steps for success in life, which I agree with 100%.
To watch this week’s market recap, click here or on the image below:
VIDEOS THIS WEEK
In case you haven’t yet seen them, here are the other videos that ran on the new Thoughtful Money channel this week:
Danielle DiMartino Booth: The Fed's Sins Are Finally Going To Catch Up With Us In 2024
"We NEED A Recession!" Says Wolf Richter, Though He Doesn't See One Happening Soon
Michael Pento: "Look Out Below!" - Stocks So Overvalued Phase 2 Of Bear Market To Hit Soon
TM NOW ON PODCAST PLAYERS
Just a reminder that if you prefer to listen to my interviews on your podcast player, Thoughtful Money is now available on the major podcast platforms:
I’m so grateful to everyone who has made their way to Thoughtful Money already, especially those of you who have kindly supported me by becoming a premium subscriber to this new Substack. It’s making an important difference in helping me afford the substantial startup costs of birthing this new venture.
Premium supporters will receive my “Adam’s Notes” summaries to interviews going forward (yes, they’re back!), plus periodic advance-viewing and/or exclusive content not made available to the public.
If you, too, would like to become a premium subscriber to this Substack (it’s only $8/mo), click on the button below :
But whether you do or not, get ready for another week of stellar interviews ahead. The coming week will see interviews with the great investor Felix Zulauf, Alf Peccatiello, Michael Every, and Cameron Dawson.
Stay tuned!
cheers,
A
Adam, I'd love to hear Lence's comments about recent price action for INTC.
Thanks Adam.
Quick question for you.
Will you have a more detailed write up about your discussion with Lance coming out soon for us paid subscribers?