A new semester

Nice to see full investments classes after more than a year away from the classroom. I will try to post more frequently than I have over the summer.

Syria fears continue to get absorbed into prices after the initial panic.  The macro outlook should be the more enduring one.  Consider the following: If the hope of continued stimulus has driven US equity markets higher, then shouldn’t taper talk mean they will go south?  Not necessarily, bulls will point to an improving economy as a reason to keep buying stocks. This is a strong camp, the ones getting out of bonds because of rising interest rates (Which come with a growing economy) have to put the money somewhere. Along with those who have got out of emerging markets. So, is the economy growing? There are different opinions here too. And that is what makes markets fun.

 

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