by Gary Gordon | Feb 8, 2020
It looks like MAGA ate the stock market. No, not the Trump acronym, the other MAGA. Microsoft, Apple, Google and Amazon have soared beyond $5 Trillion in market capitalization. That’s 17% of the S&P 500 in four stocks. Before the 2000 bubble burst, Cisco,...
by Gary Gordon | Feb 7, 2020
Earnings and price. They’re supposed to move together. The dramatic disconnect between the price of the Dow and forward estimates is beyond alarming.
by Gary Gordon | Feb 6, 2020
The Fed’s accommodative monetary policy produced substantial stock inflation, while growth in “real economy” prices has been subpar. Specifically, since the recovery began in 2009, wages have grown about 50% and nominal GDP has grown roughly 50%. In contrast, stocks...
by Gary Gordon | Feb 4, 2020
If the consumer is as strong as many would like you to believe, should the SPDR S&P 500 (SPY) be outpacing the SPDR S&P Retail ETF (XRT) by 3000 basis point (30%) in two short years? E-commerce explains some of the discrepancy. And the erosion of...
by Gary Gordon | Feb 1, 2020
Corporations should use generally accepted principles (GAAP) when reporting their earnings. Instead, they prefer to discuss “non-GAAP” earnings to make profits look better than they are. So what happens when you strip away the chicanery of non-GAAP to look...
