David Frum @davidcfrum
Colorado Native / Wealth Advisor / Dog Father / Music Obsessive Denver, CO Joined September 2018-
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Amen sir.
An angry life is the greatest poverty.
For all those wondering, this is my son Nestor. We share no blood but he is my life. He came from Cuba (legally, of course) six years ago and lives with me in Florida. I am so proud of him and raising him has been the best, most rewarding thing I’ve done in my life.
Top-heavy is not good. The top 5 stocks in the S&P 500 have accounted for 24% of the S&P's total point gain since the March 23 low. When the top 5 account for more than 20%, the S&P's average return 3 months later was -9.2%, vs +9.5% when they made up less than 20%.
A lot of interesting charts and data in this thread
A lot of interesting charts and data in this thread
All preconceptions on how the stock market SHOULD act will be overturned in time. This is especially the case when "the impossible" happens daily. It is the great humbler.
All preconceptions on how the stock market SHOULD act will be overturned in time. This is especially the case when "the impossible" happens daily. It is the great humbler.
I wonder what 1,000 standard deviation event will happen tomorrow
A valuable lesson in cost-effective insurance against the improbable
A valuable lesson in cost-effective insurance against the improbable
Remember that ~1.5m in initial jobless claims equates to around a 1% rise in the unemployment rate. Thus, the 9.99 million that filed for unemployment over the last 2 weeks would add around 6.5% to February's 3.5% unemployment rate. Thus, US unemployment rate is now about 10%.
The S&P 500 performance streaks since Feb 20: -13% +6% -21% +9% -18% +16% That's like 5 years of moves in 5 weeks
Stimulus overview For households: $250B set aside for direct payments $250B for unemployment For Business $350B in small business loans $500B in loans for distressed companies other $130B for hospitals $150B state & local government
Yes! Perhaps even more including the state tax deduction
Yes! Perhaps even more including the state tax deduction
This is serving as a great reminder not to take the little things for granted - walking to lunch, grabbing a beer on a Friday after work with friends, going out to eat with family. This too shall pass and when it does, hopefully we all enjoy the simple things just a little more
They're starting to buy again...
Leadership in the coming months, at every level, is the audition to lead in the coming years.
This week will be in history books.

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