One of the best measures of a bull market has to do with how many of the S&P 500 stocks are advancing, compared with how may are lagging.
This is certainly not a value investor’s dream. We have been enjoying a bull market in real estate and U.S. equities, almost uninterrupted, for nine years and three months.
I’m drawing a line in the sand. If you want to know EXACTLY why junior mining stocks have been hard on investors, read today’s letter and know that the torture is coming to an end.
This past week has been a textbook, 2018-style, highly intensive week. We’re well into the final innings of a business cycle, and governments, especially the U.S. administration, are not sitting idle – this rattles markets.