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 voices feel that overall the view ahead is for continued strong economic recovery from the Covid world.  However, the stock market, which is usually looking ahead, needs to see the future remaining bright without inflation becoming too prominent in the picture.  Time will tell if that view becomes reality.

We continue to feel good about our positioning from a risk/reward standpoint and we continue to sort through the possible ways to capitalize on what is ahead.  Will remain in touch as we arrive at ways to change or be better positioned.

Spring has extended itself and we are enjoying the good weather in Tennessee.  Looks mostly similar when I look at your areas.  Although a few of you are where it doesn’t get TOO hot, enjoy the current “stuff” because, for many of us, heat and cicadas are around the corner!

With good regards,

Key Holleman