Meme Stocks, Bored Monkey Pictures, Digital Pokémon

“The real problem is that a decade of experimental distortion encouraged unprecedented speculation in every conventional asset class, not to mention fringe speculation in assets detached from any standard of value, including meme stocks, pictures of bored monkeys, and digital Pokémon posing as ‘currency.’ As with every similar episode across history, the unwinding of this bubble in the form of financial crisis is already quietly baked in the cake.”

– Dr. John Hussman, “Central Bankers Wandering in the Woods” September 2023

Today we update Treasury bond and U.S. stock market forward return estimates.

Treasury bond return estimates are very easy. It’s simply the current yield offered by the bonds… assuming the U.S. government doesn’t default of course. Here are the current annualized yields for various maturities: Continue reading “Meme Stocks, Bored Monkey Pictures, Digital Pokémon”

Quarterly Market Review: 2017.Q3

Below you’ll find a summary of 3rd quarter and year-to-date returns for a handful of market indexes covering the globe.

Stocks continued to perform extremely well in the third quarter boosting year-to-date returns well into the double-digits. The top performing assets were foreign stocks with emerging market stocks more than doubling the returns of the U.S. stock market. Broad commodities have been the poorest performer for the year so far.

Continue reading “Quarterly Market Review: 2017.Q3”