Our Thoughts
Bank runs and 54% chance of recession?
If you recall, in last month's market outlook I remarked that I am cautiously optimistic (read here). I likened my cautiousness to the yellow flag that is waived in a formula one race.
Reduce speed, do not overtake, and be prepared to change direction.
Stop Talking About Stocks.
Honestly, I don't want to talk about stocks this Thanksgiving.
Not because of the brutal year we have had, but because I believe that the fragile state of the treasury debt market should be the real topic of discussion.
Debt rules the world. Without it, companies do not grow... We do not grow. And when it does not function properly, it has the potential to throw some serious punches at all asset prices.