Black Swan Alert
The Market Is Underestimating The Serious Risks That Lie Ahead. Do not be fooled!
The Nasdaq suffered from seven straight days of declines, followed quickly by a three day relief rally. The S&P is now firmly back over 4000 and I am seeing proclamations on social media that the “bottom is in” for stocks. This could not be further from the truth! Unfortunately, for those who are permanently bullish, the risks for equities has not abated, but only gotten much worse.
There are three distinct headwinds that are continuing to work against the equity market. The Federal Reserve and their effect on the credit markets, geo-political strife, and Real Estate.
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