Updated: July 28, 2021
If you’re waiting for a pullback to put money to work, look no further than small caps.
Early last week, the S&P stopped the bleeding on a harrowing multi-day 2.9% decline. By midweek, “big cap” investors had recouped more than half of their losses.
Was that it? My guess is yes, that was a wrap on the market’s mini-drama for another month or two.
Our intrepid Federal Reserve continues to print a whole lot of cash, which serves to backstop any pullback. The Fed is still buying $120 billion in bonds per month, which adds up to “real money” after a while—nearly $1.5 trillion annually!… Read more