That’s one big takeaway from what some are calling a “bizarre” Fed meeting on Wednesday, which saw Chairman Jerome Powell and fellow policy makers pull another surprise by signaling they expect to see no rate hikes this year.
But, like others, he was caught off guard by a more “tempered” Fed. And using the punch bowl analogy — in which it’s the Fed’s job to take it away while everyone’s still having a good time, but before they start jumping into the pool fully clothed — Minerd says the Fed seems to have “returned the punchbowl and encouraged everyone to have a drink.” Read that Bloomberg interview here.
At times like these, investors need to keep their cool, but they simply trade too much, says Minerd. “They pivot, just like central banks, so nobody can get the timing of this stuff correct. Our basic theory is pick your portfolio based on what will happen in the next five years, put it away and don’t pay any attention to it unless something dramatic is happening to change the long-term view,” he says.
The buzz Levi LEVI, +0.00% shares will begin trading on the NYSE Thursday, selling 36.7 million shares for $17 each, valuing the company at about $6.5 billion. But it’s worth reading up before you invest. For example, a dual-class share structure means the Levi family has a big say incorporate matters.
Micron MU, -0.59% delivered downbeat results late Wednesday, but markets are applauding its decision to reduce some chip manufacturing amid an industry glut.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »