Do not chase stocks
Commodities are soaring. Interest rates are falling. Stocks can’t get out of their own way. All of this is occurring while the first war in decades continues to rage in Ukraine. Seems to me that any gains in the market averages next week will remain dead cat bounces in this bear market. Yes, I hate…
By Bill Schmick
March 4, 2022
Investors should take a deep breath
The war drums are beating. Oil and gas prices are soaring. Inflation is at a decades-long high. Bearish sentiment is exploding. And the stock market is giving investors angina. What to do? Take a deep breath and remember that whatever the circumstances, this too shall pass. I know that is easy to say, but a…
By Bill Schmick
February 24, 2022
Are you ready for $50 hamburgers?
Fifty dollars may be an exaggeration, unless you frequent some high-priced restaurants in Manhattan. But consumers should be prepared. Beef prices, for the foreseeable future, will continue to climb. Some cuts of meat are already up 25% from where they were six months ago. As the cook in the house, I usually buy a prime…
By Bill Schmick
February 3, 2022
Crypto crashes (again)
While investors focus on the losses that are piling up in the stock market, the cryptocurrency space has suffered far more. The bears say it has further to go, but that may depend on what happens to stocks. Bitcoin, the grand daddy of crypto currencies, is trading around $38,400 per coin as of January 25,…
By Bill Schmick
January 27, 2022
A new female Fed
Just before Martin Luther King, Jr. Day, President Biden announced three new nominations to the Federal Reserve Bank Board, two of which are women. If the U.S. Senate approves, women would then account for most of the Federal Reserve Bank’s seven-member board. Lisa Cook and Sarah Bloom Raskin, if confirmed, would join Lael Brainard, who…
By Bill Schmick
January 20, 2022
Gold is back but for how long?
Commodity prices are flying. Nickel doubled in price in two days. Wheat is up 50% and has experienced trading halts for five straight days. Gold has breached $2,000 an ounce and we all know what has happened to the price of oil. How long can it last? As longtime readers know, I formally recommended commodities…
By Bill Schmick
March 10, 2022