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  • Writer's pictureLucian@going2paris.net

Go Figure


Charlottesville, Virginia

July 30, 2020


I thought this screenshot from my phone tells the story well. Two stories about the negative outlook for the economy followed by a simple headline “stocks close higher.” Of course they did! That’s consistent with everything I learned at Darden. Only the naive couldn’t see the causation.


There are a lot of dollars looking for the best return. They’re not finding it in the fixed income market. Is the stock market valuation simply a case of supply and demand? It feels like a bubble to me. Doesn't it feel like there has to be another correction?


As they say, a random walk down Wall Street.

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