Inflection Point (Part 3): The Ultimate Cryptocurrency Surprise

Inflection Point (Part 3): The Ultimate Cryptocurrency Surprise It’s pretty tough to recall a historical example of an “asset class” that has generated as much controversy as Cryptocurrencies.  On the one hand, established Wall Street veterans, such as J. P. Morgan Chase Bank CEO Jamie Dimon, have called Bitcoin a “fraud”  (https://www.cnbc.com/2017/10/13/jamie-dimon-says-people-who-buy-bitcoin-are-stupid.html).  Others, such as […]

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Inflection Point (Part 2): Financial Assets Give Way to Hard Assets

Inflection Point (Part 2): Financial Assets Give Way to Hard Assets   Recently, we outlined the case for why equity prices may be at an historical Inflection Point (https://markonomics101.com/2018/07/12/inflection-point-part-1-the-long-term-equity-valuation-cycle/).  Both Price Earnings multiples (PEs) and Earnings themselves have very little apparent upside while being highly susceptible to a reversion to their long-run means.  Such a […]

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Inflection Point (Part 1): The Long Term Equity Valuation Cycle

Inflection Point: (Part 1) The Long Term Equity Valuation Cycle Most market participants would probably be inclined to agree that the markets move in somewhat cyclical fashion, but that’s about where the agreement ends.  Practitioners of cycle theory include those who ascribe to what’s known as “Elliot Wave Theory” with Robert Prechter’s “Elliott Wave Theorist” […]

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