All Of Us In The Markets Are In A Proverbial Canoe
All Of Us In The Markets Are In A Proverbial Canoe: Tom Essaye Quoted in Courthouse News Service
Markets roar in 2023 as inflation ticks down and Fed eases rate hikes
Tom Essaye of the Sevens Report likened the market in 2023 to rough sailing. “I can’t help but feel as though all of us in the markets are in a proverbial canoe and the investing public is violently leaning to one side of the canoe and then the other, causing it to nearly tip each time,” he wrote in an investor’s note.
Essaye wrote that many believe the Fed will slash interest rates about six times next year, believing inflation will soon “go into some sort of freefall” and the S&P 500 may hit 5,000 points. “But I’ve been in this industry long enough to know that when everyone seems to be leaning on one side of the proverbial canoe, it pays to move to the middle,” he wrote.
Also, click here to view the full Courthouse News Service article published on December 29th, 2023. However, to see the Sevens Report’s full comments on the current market environment sign up here.
To strengthen your market knowledge take a free trial of The Sevens Report.
Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.
