Powell, the Third Mandate, the New Fed and Crawdads

Powell and the New Fed

Late in the Cycle

Bond Boom

Priced to Sell

A Little Nostalgia

We have reached the best time of year, when we can look to the future with hope. We can stop wondering what will happen in 2018 and look forward to 2019. The investment industry always does this enthusiastically, as you will see in forecasts everywhere the next few weeks.

Not wanting to be left out, or leave you wondering what I think, I usually review several other forecasts and later add my own. This year, I’m turning that sequence around. Recently I did a “2019 Investment Outlook” webinar with my business partner Steve Blumenthal. So right or wrong, my thoughts are now on record. In this letter, I’ll give you an abbreviated version of that webinar and add a few other thoughts at the end. Then in January, I’ll spend a letter or two reacting to other interesting forecasts.

But first, I am going to offer some different thoughts than the mainstream media spin on Jerome Powell, his press conference, and the Federal Reserve.

And even before that, I’m happy to announce that Alpha Society membership is now open for a limited time. This is a big deal if you love discussing investments, the economy, big picture ideas, and all the bits and pieces of trends, data, and events that make our world go round.

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