Dog Days of the Bear Market

This has been a tough year for investment markets with rising interest rates producing a common result for investments of all kinds, in dollar terms:

This is Not The 1970’s

And that’s what makes a market. There are intelligent, experienced people in both camps. From our point of view, inflation is headed in the right direction with oil prices down pretty consistently over the past two months, with some retailers cutting prices, the housing market stalling, and with the prospect of some layoffs on the horizon.