As corporate earnings dribble in and the results of the Federal Reserve’s next policy meeting are more than a week away, it’s a good time for a reality check across a few key areas:
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Dow 27K! S&P 500 3K! NASDAQ 8200! Just months after the bull market in stocks and the current expansion each became the longest on record, U.S. equity indexes reached more milestones last week. Sure, the economy is expanding, but you can thank one person for the recent leg up in the bull market rally: Fed Chairman Jerome Powell.
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When I was a young trader, my employer sent a group of us to a crash course in options strategies. As we piled into the classroom, there was a chalkboard with one word written on it: “KISS”. The professor quickly pointed out that KISS stood for “Keep It Simple, Stupid” and it was a mantra that we should repeat if we wanted to be successful on Wall Street.
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