T&C | Episode 91: Red October?
tmoore2025-10-03T15:26:56+00:00In this episode, we talk a pay homage to Will’s mentor by focusing on value and discipline, two things very much out of favor in the market at present. It is easy to see why as in the wake of five consecutive months of market gains, statistically the odds favor further appreciation. Moreover, even though valuations are high, historically valuation has proven a sub-optimal timing tool as it relates to near-term returns. With the Fed now more inclined to look more at weakening employment versus inflation, accommodative monetary policy seems supportive of valuation even at these elevated levels. - weakening job growth this summer (only +22k jobs in August, mostly in health care). - likelihood of significant negative revisions this week. - unemployment that would be over 5% if not for lower labor force participation.