In this podcast episode featuring Richard and Clint, several key points about market performance and investor sentiment are discussed. The previous month showed an impressive six percent increase in the market index, driven by continued growth in technology stocks.
One notable aspect is the degree of capitulation among investors. This suggests a fear of missing out (FOMO) mentality prevailing among investors. Despite potential negative events like the Mutiny in Russia, the market remained unaffected, leading to its characterization by Richard as a “Teflon market.”
The discussion also touches upon the Fearless VIX and the inverted yield curve. Both of these factors contribute to the bullish and bearish arguments. On the bullish side, there is optimism due to a resilient economy, strong corporate earnings, a robust labor market, and decreasing inflation.
However, concerns arise, and these factors add an element of caution to the overall outlook. The hosts emphasize maintaining a cautious approach, focusing on long-term strategies, and avoiding one-sided bets due to the uncertainty in the market.
About: Fort Street Asset Management is an investment fund manager based in Honolulu. The firm, founded by Richard Wertheimer and Clint Dodson in 2019, actively manages a multi-strategy fund for like-minded investors. For more information on Fort Street, please visit: www.fortstreetam.com