I have followed Jeremy Grantham this year since Note 3 sent January 17, not because he’s more accurate than other z-vals but because he’s an industry darling, one of the big kahunas everybody loves to quote because he’s considered a really smart guy. But smarts don’t count in zero-validity environments. Experience doesn’t accrue to a […]
Author Archives: Jason Kelly
TQQQ is Unlikely to Hit Zero in One Session
The following is from the comments section of last Sunday’s Kelly Letter. Q. Subscriber Kenneth asked: What happens if the QQQ loses 34% in a day? Does TQQQ go below zero? A. I answered: It would bottom somewhere just above zero, effectively eliminating the investor’s position. However, this is unlikely to happen. From “Research Behind […]
My Weimar Reference
My reference to Weimar in last Sunday’s Kelly Letter confused a number of readers. Allow me to clear it up. I wrote: “…a contingent of economists staking careers on inflation warnings willfully ignored, and ignore, assurances from the Federal Reserve and other central banks that it is transitory. It makes perfect sense why early data […]
Posted in Inflation
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CLM Is No Panacea
I wrote in last Sunday’s Kelly Letter about a closed-end fund called Cornerstone Strategic Value (CLM $11.50 -2% YTD). It’s one of many securities I’m auditioning to play a part in an Income Sig strategy for retirement. Please remember that this is a research phase. None of the funds I’ve referenced is a recommendation. I […]
Tech is Rested and Ready
Since March 20, 2020, the Nasdaq 100 has risen 95% compared with 82% for the S&P 500. Year-to-date, however, they switched leadership positions: Price Change Since 3/20/20 (%) – – – – – – – – – – – – – – – 95.3 Nasdaq 100 82.1 S&P 500 Price Change Year-to-Date (%) – – […]
Posted in Technology, TQQQ
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