This is a behind the scenes video of our team meeting held on July 6, 2020 4PM ET.
Every quarter we put out our Playbook focusing on the most important themes around the world to take advantage of, and just as importantly, which areas to avoid. This is usually about 150 pages and really dives deep into stocks, rates, commodities, forex and the intermarket relationships between all of them.
I hope this gives you some perspective on how we approach markets using our Top/Down Approach. We've always found it helpful to understand where people are coming from and why they say certain things. I hope this can give you some of that context about us. I think it also helps you get to know our team a little better. Enjoy!
Welcome to my new Monthly show that I'm doing with my friend Josh Brown. He is one of the most widely followed Financial Advisors in the country, and someone who I've been arguing with about markets for the better part of 2 decades.
Every month I'll bring a handful of the the most important Monthly charts that stood out during my review. In our first episode, I wanted to discuss the S&P500 making new all-time highs, Transports leading the way in July, Rates hitting new all-time lows and Bitcoin starting a new breakout.
This is the chart that I think tells the July story best. The further to the left the asset is, the closer it is to a new a 52 week high. The higher up the asset, the better its performance in July. Notice Transports in the upper right: Relative weakness overall, BUT the best performer this month, followed by Emerging Markets, Gold and base metals. The lonely US Dollar down below stands out doesn't it?
In early May we outlined the "Five Bull Market Barometers" we're watching to identify the beginning of a new bull market in stocks.
If you haven't read our initial post linked above, we'd encourage you to check it out so you understand what the rationale behind these five indicators is.
Now, let's see where these indicators ended the week.
As we head into the second half of the calendar year 2020, we start from scratch with our Q2 playbook and outline our thoughts on every asset class and our plan to profit in the quarter ahead.
Part 1 of this playbook will cover our macro view, touching on Equities, Commodities, Currencies, and Rates.
Part 2 of this playbook will delve deeper into Indian Equities, going sector by sector to identify the trends that matter.
Part 3 of this playbook will outline the individual stocks we want to be selling within the context of today's environment.
Part 4 of this playbook will outline the individual stocks we want to be buying within the context of today's environment.
In early May we outlined the "Five Bull Market Barometers" we're watching to identify the beginning of a new bull market in stocks.
If you haven't read our initial post linked above, we'd encourage you to check it out so you understand what the rationale behind these five indicators is.
Now, let's see where these indicators ended the week.
As we head into the second half of the calendar year 2020, we start from scratch with our Q2 playbook and outline our thoughts on every asset class and our plan to profit in the quarter ahead.
Part 1 of this playbook will cover our macro view, touching on Equities, Commodities, Currencies, and Rates.
Part 2 of this playbook will delve deeper into Indian Equities, going sector by sector to identify the trends that matter.
Part 3 of this playbook will outline the individual stocks we want to be selling within the context of today's environment.
Part 4 of this playbook will outline the individual stocks we want to be buying within the context of today's environment.
Responses to this week's Mystery Chart were mixed. Some were betting on a breakout and buying while others wanted to fade this against the prior highs.
Others were waiting for more information, which is likely what we'd be doing. Thanks to everyone for participating.
But this chart is already packed with information. Let's dive in and talk about what it is.