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Hot Air Is the Newest "Fundamental"
Daily Rap 01-25-2024
Today there was a bevy of macro data, probably the most talked about of which would be GDP, which was reported at 3.3% real GDP growth versus expectations of 2%. Of course, that's predicated on inflation only being 1.5% by the government's calculations versus the 3.5% or so that it has actually officially been running at (never mind what it really is). Thus, that 3.3% GDP growth was in reality something less than 1.5%.
"Anyone Who Isn't Confused Really Doesn't Understand the Situation"
I mostly bring this up as an intellectual exercise because, other than pushing around markets, macro data and bottoms-up data don't seem to matter too much to the overall market. In fact, one friend of mine on Twitter summarized this morning's data...more
Last year's posts for Ask Fleck
Q: Wesdome made an investment in Angus Gold. Is that relevant or interesting? Presumably small dollars?
Wesdome Acquires Stake in Angus Gold
Thanks.
Fleck: Interesting down the road, hopefully. Nonevent now.
(posted: 1/24/2024)
Q: Gold stock Yoda John Hathaway is interviewed on Wealthion:
John Hathaway on Wealthion
Fleck: I had dinner with John last week. He is also a big holder of Wesdome.
(posted: 1/24/2024)
Q: Any fundamental reason for the selloff in SILV?
Fleck: Not that I know of, other than general silver weakness.
(posted: 1/24/2024)
more Ask Fleck...