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@theMarket: A Roller Coaster Market
By Bill Schmick,
04:59PM / Friday, January 29, 2021
Investors learned a number of lessons this week. First among them was that stocks, on occasion, can go down as suddenly as they can go up. They also began to realize that it may take longer than expected before this pandemic is put to rest.   Over the last two weeks, I have been warning investors to shuck those rose-tinted glasses and take a more realistic view of exactly where we are in this pandemic relief world. That advise is starting to sink in. This week, the Biden administration, Senate Majority Leader Chuck Schumer and even Dr. Anthony Fauci, the nation's top infectious-disease expert, gave investors a more sobering look at the future.   The

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The Retired Investor: Make Way for the Retail Investor
04:59PM / Thursday, January 28, 2021
By now, you may have realized that this is not your father's stock market, nor will it ever be again. An entirely new army of investors have arrived on the scene with different attitudes, values, and beliefs. You can either hop on this train or be left behind.   Back in the day, burnt by the Financial Crisis of more than a decade ago, many investors decided to forsake the stock market, embracing bonds instead. Over that time, Americans amassed a $3 trillion in savings and 94 percent of that money went into bonds. Those bond buyers have had a good run, but all good things must come to an end.   Most fixed income investors are scrapping the bottom of the

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@theMarket: Equities Register New Highs, Until They Don't
By Bill Schmick,
03:25PM / Friday, January 22, 2021

New highs are getting so common that investors are disappointed when markets fail to achieve them at least weekly. That should tell you something about the future direction of stocks, at least in the short term.

As investors piled into stocks again this week in anticipation of unending spending by the federal government, it might be time to take a few profits. Don't take that statement the wrong way. I am not calling for an end to this run-up in stocks. I think we could actually kiss the 4,000 level on the S&P 500 Index before we face a really big correction.

But that is only about a 3.5 percent move higher from here, something we could do between now and February if we

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The Retired Investor: The Reflation Trade
By Bill Schmick,
04:20PM / Thursday, January 21, 2021

Over the past six months, an increasing number of investors have come to believe that a rise in the inflation rate is inevitable. That appears to be a sound bet from where I sit, even though the present data doesn't support that wager.

The argument for increased inflation centers around money. The world is awash in the stuff. Central banks have been printing money for years to stimulate their economies. Last year's pandemic only opened the monetary flood gates even further. And the trend is not over.

During the next few months, here in the U.S., the Biden Administration is proposing another $1.9 trillion in federal spending, which will then be followed by yet another

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The Retired Investor: Asia: The Investment Case
By Bill Schmick,
05:05PM / Thursday, January 07, 2021

Investment managers have spent the last decade buying and selling U.S. equities largely to the exclusion of the rest of the world. That made a lot of sense, since the S&P 500 was the best performing index in the world during that period. But times are changing.

While our U.S. stock averages did well again in 2020, Asian stocks did equally as well, and in some cases, they did better. Some of that performance can be attributed to the declining dollar. A weaker dollar benefits U.S. holders of foreign equities, and most analysts expect the greenback to weaken further this year.   However, that is not the only reason for investing in Asia. Overall, valuations are cheaper,

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