As expected, the Federal Reserve raised the overnight rate by 25bp (.25%). I think this was both the right move and irrelevant. Others disagree. – The Fed cited high inflation, high spending, high employment, and solid economic growth. – The dot plot shows 2 Governors who expect to keep the current fed funds rate through … Read more
CPI of 3.4% was in line with expectations and consistent with last month’s 3.4%. The monthly change was 0.4% driven by fuel and shelter. The monthly increase annualizes to 4.9%. Core CPI of 2.4% was also in line with estimates and slightly below last month’s 2.5%. The monthly change of 0.3% was above estimates … Read more
Introduction: Decades ago, I took a finance class at the University of Michigan and vividly remember when the professor told us that the proper measure of risk is volatility. While I didn’t have the knowledge at the time to challenge the professor, I instinctively and immediately thought that this was incorrect. The only circumstance where … Read more
I’ll be in Suchitoto, El Salvador for the next week followed by a few days in San Salvador and a longer trip to Montevideo, Uruguay. I’m open to a small number of in-person conversations. If you’re based locally, or know someone here you think it would be worthwhile for me to meet, feel free to … Read more
It’s just past 1pm in New York as I write this. $BRR up 10.2% Gold up 3.4% Bitcoin up 5.7% Silver up 3.4% 10-Year Treasury yield down 3bp (.03%) 30-Year Treasury yield down 7bp (.07%) That’s a lot of volatility in assets that typically aren’t very volatile. It’s also a lot of volatility for $BRR … Read more
CPI of 3.4% was in line with expectations and a small decrease vs last month’s 3.5%. The monthly change was 0.1% and as usual, was driven by shelter which accounted for two-thirds of the rise. Core CPI of 2.5% was also in line with estimates and slightly below last month’s 2.6%. The monthly change of … Read more
I’ll be in the Lake Atitlan, Guatemala are for the next two weeks. While I’m here, I’m open to a small number of in-person conversations. If you’re based locally, or know someone here you think it would be worthwhile for me to meet, feel free to reach out privately at IR@DeepKnowledgeInvesting.com. DKI also added a … Read more
