July 16, 2018

The market is a discounting process.

Last week's mini sell off may have been a cause of alarm for a lot of investors including Doug Kass. He wrote on twitter of the market risks and what may come ahead for the markets.

"I see shades of 1999 stupidity and 2007 median stock overvaluation in stock market today. not good I say."

"All kinds of risk off trades having issues, world stock markets ex US correcting, Emerging Markets debt fading, China in bear market, high yield bond spreads widening, yield curve flattening. All of these are significant signals that financial markets sloppy underneath the surface from."

"This carnage is being offset by huge runs in the mo-mo stocks. stocks with no-mo can drop 30 or 40% in this bull market w modest disappointment. i expect Q3 outlooks to disappoint on strong dollar and trade war uncertainties."