The Sunday Drive - 11/03/2024 Edition [#135]
Musings and Meanderings of a Financial Provocateur
👋🏼 Hello friends,
Greetings from Saratoga Springs, NY. Let’s enjoy a leisurely Sunday Drive around the Internet.
🎶 Vibin'
Those who’ve been following the Sunday Drive for a while know that I’m a sucker for mashups and creative covers. Recently, I was blessed to run across a truly amazing talent that I feel poor for not learning about sooner.
So, this week I’m vibin’ to a 1992 live cover performance of Whole Lotta Love by the ridiculously talented Tori Amos. I hope you enjoy it.
💭 Quote of the Week
“It’s better to look ahead and prepare than to look back and regret.“
— Jackie Joyner-Kersee
📈 Chart of the Week
Year to date, the S&P 500 index is up 21.5% (Source: YCharts). As you can see from this week’s Chart, 2024 is about the best year evah! thus far - at least in the last 25 years.
With markets reflecting a fairly certain outcome to next week’s election, I think we have to ask ourselves… Now what?
My expectation is that more can go wrong than right from here, at least in the intermediate term if not the short term.
What if the election outcome isn’t so certain and the country is thrown into a constitutional crisis? Not reflected in the markets.
What if the bond vigilantes of the 1990s return and interest rates rise significantly, regardless of Fed policy? Not reflected in the markets.
What if there is a resurgent, second wave of inflation which would be consistent with historical precedent? Not reflected in the markets.
What if the AI driven semi-conductor cycle slows or pauses, causing the Mag7 stocks, which have driven the market cap weighted S&P 500 performance recently, to rollover? Definitely not reflected in the markets.
What should investors do? Well, I guess my best suggestion is…
🚙 Interesting Drive-By's
💡 A Message From the Past (Thoughts on Nostalgia)
☢️ Monopolies Are Why We Are Restarting Three-Mile Island
💰 René Girard and the Port Strike Revelation
👋🏼 Parting Thought
Guess who’s still long the Mag7… (Be sure to unmute)
If you have any cool articles or ideas that might be interesting for future Sunday Drive-by's, please send them along or tweet 'em (X ‘em?) at me.
Please note that the content in The Sunday Drive is intended for informational purposes only, and is in no way intended to be financial, legal, tax, marital, or even cooking advice. Consult your own professionals as needed. The views expressed in The Sunday Drive are mine alone, and are not necessarily the views of Investment Research Partners or Cache Financials.
I hope you have a relaxing weekend and a great week ahead. See you next Sunday...
Your faithful financial provocateur,
-Mike
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