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BITCOIN IS ONE OF MANY BUBBLES OF HISTORIC PROPORTIONS TODAY SAYS FINANCIAL HISTORIAN JAMES GRANT
NEW THIS WEEK…
The balance sheet of the Federal Reserve continues to surge at an unprecedented rate, up 83% y/y to a historic level, $7.59 trillion at the latest count.
According to our WEALTHTRACK podcast guest, financial historian, and long-time market observer James Grant, interest rates, the “central pricing mechanism for financial markets” have been pushed to artificially low levels by the Fed’s policies which have created numerous market bubbles. He cites Bitcoin as one of the most extreme examples.
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WHICH INVESTMENTS ARE POISED TO DO WELL IN 2021? STRATEGY ADVICE FROM AN ASSET ALLOCATION PRO
Part 2 of 2
Old fashioned asset allocation used to be a fairly simple exercise: 60% individual stocks, usually U.S. large-caps and 40% bonds, mostly investment-grade corporates, some Treasury securities for liquidity, and a smattering of municipal bonds for higher tax bracket individuals.
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PORTFOLIO DIVERSIFICATION’S FAILURE TO PROTECT IN BEAR MARKETS CALLS FOR A NEW STRATEGY
Part 1 of 2
Talk to most investment professionals and they will tell you that portfolio diversification is the key to successful investing and that asset allocation among multiple asset classes, not individual security selection, accounts for as much as 100% of investment returns. Being broadly diversified among different asset classes is supposed to give you strong exposure to market rallies and protection in down markets as non-correlated assets zig when others zag and soften the downside impact.
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ROYCE SPECIAL EQUITY FUND’S LEGENDARY CHARLIE DREIFUS EXPLAINS HIS “WINNING BY LOSING LESS” STRATEGY
One of the most notable characteristics of the last decade was the wide divergence in market performance. We have reported many times on the narrow group of superstars, mainly large-cap U.S. tech stocks and the much wider universe of laggards, value and small-cap stocks in particular.
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2021’S FINANCIAL TO-DO LIST WITH MORNINGSTAR’S PERSONAL FINANCE GURU, CHRISTINE BENZ
Blast off! Stock markets are setting records, with tech stocks leading the charge once again. “Don’t fight the Fed” should now encompass “don’t fight the Treasury, fiscal stimulus, vaccinations and investor demand for ‘real’ (after inflation) returns.” The Wall Street Journal reports that the “S&P 500 rose 14.3% from Election Day through Inauguration Day, its best performance on record for that period.” (The Wall Street Journal “Stocks Climb To Records, Led By Tech Sector” 1/21/21)
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