Trump and the Animal Spirits


I’ve owned June URI calls since tax reform passed. They’ll benefit more than CAT, because a lot of CAT revenue is outside the US.

Wow, Shiller says when can’t be predicted. No kidding. If he could predict when, he’d be fighting Bezos for wealthiest person in the world.


Global appetite for large-cap Chinese stocks was dampened by fears of a Chinese financial crisis. Now that China has shown that it can de-lever the financial system and maintain strong growth at the same time, investors are scrambling to add Chinese stocks to portfolios before the MSCI indices expand to include China later this year. With the HSCEI up 17.2% year to date, any global portfolio that did not include China would have underperformed.


Animal spirits running super high today. Intel up 10% in one day! Who would have thought a 50 year old 200B company can pull off moves like this?



China’s stock market is pretty flat except for the manipulation in 2005