Below are some of the most interesting things I came across this week. Click here to subscribe to our free weekly newsletter and get this post delivered to your inbox each Saturday morning.
LINK
John Authers writes, “At the outset of his last year as chairman of the Federal Reserve, Alan Greenspan had a warning. ‘History cautions,’ he told Congress in 2005, ‘that people experiencing long periods of relative stability are prone to excess.'”
LINK
“China did to solar panels what everyone said couldn’t happen to a complex manufactured good: it turned them into a commodity, drove prices down 90%, and eliminated the margins that Western producers relied on. This should be ominous,” writes Paul Kedrosky of the current trends artificial intelligence.
STAT
From the CMT Association we learn that, “The conventional wisdom that equities reliably reward patient investors over long horizons obscures a critical historical pattern: secular bear markets, or ‘lost decades,’ have consumed approximately 35% of U.S. equity market history since 1871.”
LINK
Rob Arnott writes, “Indexes were originally designed to measure markets, not to influence them. As indexing evolved from measurement to investment, however, the act of replication began to influence the market itself.”
LINK
Finally, Jim Puplava argues, “The paper markets seem to be valuing oil as if a structural supply glut is locked in, when in fact, the physical oil complex is running on empty.”
For a deeper analysis of these themes and what they mean for your investments subscribe to The Felder Report PREMIUM and get instant access to our Market Comments, Monthly Chartbooks, Tactical ETF Portfolio and more.
