Tag: Valuations
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Irrational Exuberance and the Equity Risk Premium
With the irrational exuberance of the post-election market euphoria wearing off. The major averages recorded a rough first full week to start the year. The DOW lost 763 points or 1.79%, the NASDAQ fell 434 points or 2.22% while the S&P 500 gave up 112 points or 1.89%.
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The Market Giveth
The market taketh away. For the week the Dow lost 544 points or 1.24%, the NASDAQ fell 607 points or 3.15% while the S&P 500 lost 125 points or 2.08%. In the post-election period, the market giveth to cryptos with Bitcoin posting solid gains. The market taketh away from gold as it is considerably off…