Can we simple humans out trade the machines (made in our own image), anymore? It’s far from a theoretical question in markets like these.
By many measures (rational ones, like price to book and prices to dividends) markets are at “lifetime extremes.” But, you wouldn’t know it. Sadly, as we’ll see in charts this morning, no sign of the fever breaking.
Even in such outcomes, however, we are able to discern “usable information.”
But, before we get to those two hot topics, we’re going to “break the mold a bit” from our usual structure.
You see, Woo-Woo is back.