Stocks peak about every 36 years, most recently in 1929, 1965, and 2000. This 36 year cycle can be traced all the way back to the earliest eras in recorded human history, back to Pythagoras and Plato and the Axial Age around 600BC. After each peak comes a period of decline (punctuated by bear market rallies) that typically lasts 16 years or so. Then, with the excesses of the prior bull period wrung out and investors most depressed, the next 20-year run to the next market top can begin.
Howdy, Bull-Riders:
I know I said there would be no update in this holiday week, but I wanted to share our performance for 2023. The portfolio dipped 0.3% from last week to finish the year at +63.5%. There is much more to come in 2024!
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The complete first chapter of my new book that I'm writing online, Every Investor's Guide to AI & Metaverse Stocks, is posted on Substack. It's free to read!
Introduction -
Chapter 1: Part A -
Chapter 1: Part B -
Chapter 1: Part C -
Enjoy and subscribe (free or paid) for future chapters!
Paid subscriber or not, if you would click the ♥ symbol below it would really help me get the word out.
Your Editor,
Michael Murphy CFA (aka Red Rock) is a Harvard-trained economist with over 35 years of stock market experience as a security analyst on both the buy- and sell-side, as a Registered Investment Adviser, mutual fund manager, and Director of Research.
Paid subscriber or not, if you would click the ♥ symbol below it would really help me get the word out.