New year, new video, new bio. Excited to join @CPIWealth to continue helping investors on their path. A lot more to come, but let's start with the charts and themes that told the story of 2022...
youtube.com
youtube.com
I. Starting off with a bang.
The first day of trading in 2022 felt very much like 2021 (new highs in S&P 500/Apple), but the similarities would end right there. The macro picture in 2022 was the polar opposite of 2021.
Video: youtube.com
The first day of trading in 2022 felt very much like 2021 (new highs in S&P 500/Apple), but the similarities would end right there. The macro picture in 2022 was the polar opposite of 2021.
Video: youtube.com
II. The End of Easy Money.
The pattern that had existed in the previous eight bear markets was broken in 2022, with a new sheriff in town. And as the markets would soon learn, this Jerome Powell looked nothing like the Jerome Powell of the past.
Video: youtube.com
The pattern that had existed in the previous eight bear markets was broken in 2022, with a new sheriff in town. And as the markets would soon learn, this Jerome Powell looked nothing like the Jerome Powell of the past.
Video: youtube.com
III. The Most Universal Tax of All
With inflation hitting a 40-yr high of 9.1% in June, the Fed embarked on a much more aggressive path than anyone expected. They ended up hiking rates 7x, the biggest annual spike in the Fed Funds Rate since 1980.
Video: youtube.com
With inflation hitting a 40-yr high of 9.1% in June, the Fed embarked on a much more aggressive path than anyone expected. They ended up hiking rates 7x, the biggest annual spike in the Fed Funds Rate since 1980.
Video: youtube.com
IV. The Bond Market Bloodbath
The setup for the bond market entering 2022 (low rates, rising inflation, tightening Fed) was a powder keg just waiting to explode. The result: an explosion - it was the worst year for bonds in history.
Video: youtube.com
The setup for the bond market entering 2022 (low rates, rising inflation, tightening Fed) was a powder keg just waiting to explode. The result: an explosion - it was the worst year for bonds in history.
Video: youtube.com
V. The Price of Admission
The primary reason why equity investors can earn a higher return over time are the higher levels of risk along the way. That is the price of admission. That price was paid in 2022 w/ the worst year for stocks since 2008.
Video: youtube.com
The primary reason why equity investors can earn a higher return over time are the higher levels of risk along the way. That is the price of admission. That price was paid in 2022 w/ the worst year for stocks since 2008.
Video: youtube.com
VI. No Place to Hide
2022 was the worst year for a 60/40 portfolio of the S&P 500 and 10-Year Treasury Bond since 1937, and the first time both assets fell more than 10% in a calendar year.
Video: youtube.com
2022 was the worst year for a 60/40 portfolio of the S&P 500 and 10-Year Treasury Bond since 1937, and the first time both assets fell more than 10% in a calendar year.
Video: youtube.com
VII. The Housing Market Downturn
The combination of skyrocketing prices and skyrocketing mortgage rates made housing more unfordable than ever before. What followed: a collapse in demand/activity, and then with a lag, prices starting to fall.
Video: youtube.com
The combination of skyrocketing prices and skyrocketing mortgage rates made housing more unfordable than ever before. What followed: a collapse in demand/activity, and then with a lag, prices starting to fall.
Video: youtube.com
VIII. Picking Stocks is Hard
During the mania of 2020 & early 2021 the “stonks only go up” meme was coined with much fanfare. In 2022, the meme had all-but disappeared. In its place: the cold, hard reality that stock picking is anything but easy.
Video: youtube.com
During the mania of 2020 & early 2021 the “stonks only go up” meme was coined with much fanfare. In 2022, the meme had all-but disappeared. In its place: the cold, hard reality that stock picking is anything but easy.
Video: youtube.com
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