Everything Rally
As a close friend of mine said recently: “This has been the “everything” rally”. He was right. Stocks, real estate, cars (Porsches, in particular), Art, online art (NFTs), crypto, ATVs and outdoor toys, etc, etc. Almost everything has been rising in value over the last year. This week has provided a tiny test of the idea that this wont last forever. In fact, it’s likely the riskier, more lofted stuff that will fall back to earth the most. After owning Bitcoin several years ago in infancy, I am a spectator only to the modern day crypto craze. I am regularly asked what will happen to Bitcoin (and Ethereum and Dogecoin) next and my answer is “No idea”. And the only way I am going to find out is from the sidelines. Earning season has been strong. But initial indications are that the market was factoring this in already. Our RJ