The State of the Market: Part 2

October 20, 2017

As I mentioned in part 1 of The State of the Market, today I’d like to take a side trip into a different area: artificial intelligence (AI). One of the key themes we see pretty much everywhere these days is that computers, or robots, are taking over the world. This “age of automation,” as I will call it, is often seen as the rise of the machines (think the Terminator movies) and the associated demise of human jobs.

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The State of the Market: Part 1

October 19, 2017

After talking about where the bubble is and then Black Monday, there is something we must acknowledge: despite all the hand-wringing, the market is high and seems to be rising even further. Like the bumblebee— which, according to all sorts of sophisticated aerodynamic analysis, cannot fly—the market doesn’t know it can’t go higher and so it does.

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Black Monday Remembered

October 18, 2017

October 19, 1987, is a date that will live in stock market infamy. Known as Black Monday, it marks the largest one-day loss in history, with the Dow down exactly 508 points (22.61 percent).

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Where’s the Bubble?

October 17, 2017

Have you noticed how hard it is to blow a bubble these days? Things that were once considered out-and-out, no-doubt-about-it bubbles now get a “meh, I’ve seen bigger” reaction. It seems we’re all a bit jaded.

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Should We Be Worried About Earnings Growth?

October 13, 2017

One of the key points in my argument that things are actually pretty good—and likely to get better—has been that with a growing economy, companies are selling more and making more money. Rising profits, especially on a per-share basis, are the foundation for a rising market.

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Still in 1999? The Timing May Be Shifting

October 12, 2017

I am at the Commonwealth National Conference in San Diego this week, talking with advisors from all around the country. Similar to the Financial Planning Association conference that I attended last week, everyone here wants to know what the market is going to do. In the short term, I suspect it is likely to keep rising.

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The Role of Financial Planners: Lessons from Nashville

October 4, 2017

Yesterday, I was down in Nashville speaking at the Financial Planning Association’s national meeting. It was an interesting time! Speaking with the young man at the coffee shop, our conversation went something like this: “I’m from Alabama.” “How did you get here?” “Like everybody else, music.” Clearly, this is a one-industry town, from the convention center (the Music City Center) to the signs for the Grand Ole Opry.

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