In this week's Off the Cuff podcast, Chris and Adam discuss:
- Investing In Farmland
- There are attractive alternatives to Wall Street
- Boring, Frustrating Markets
- No volume, no volatility, no sense
- Downside Risk & Investor Opportunity
- We're closer to the correction than we've been over the past 5 years
Note: this episode of Off The Cuff was recorded before Thursday's announcement of negative interest rates by the European Central Bank. An interview with our European correspondent, Alasdair Macleod, discussing the ramifications of that important development, will appear on the site this weekend.
Ugh. The parade of bad news continues — Q2 GDP growth downgraded! Q1 Productivity misses! ECB announces NIRP! — and yet these bullets of bad news simply deflect off of today's Kevlar markets.
Good news is good, and bad news is even better for stock and bond prices.
Things are boring right now. The grip of those able to control prices is strong, and all volatility has been pretty much strangled out of the system. We're trapped in a rinse-wash-repeat cycle that continues regardless of the absolute lack of logic for it to do so. As Chris opines: "At least the movie Groundhog Day had an ending…"
Of course, the flood of liquidity that has driven prices higher over the past 6 years has done nothing to remove the dangerous rocks that remain lurking beneath the surface.
by pgp 
