Secular trends in inflation adjusted equities average between 15 and 20 years. Since such price movements embrace a number of business cycles, identification of a reversal...
Last year presented us with the largest consensus of economists forecasting an imminent recession that we ever recall. Contrary opinion theory says that when people start to...
Growing Evidence the Secular Trend in Stock Prices May be Reversing While it is true in the very long run stocks go up, it is also true that secular bear markets are a fact of...
In March of last year, I wrote an article entitled “Timing the End of the Tech and Bitcoin Bubbles”. The conclusion for Bitcoin was that it was indeed in a bubble but that there...
In October 2021, we made the case for a new secular commodity bull market and concluded that this environment would likely spill back into the economy and stock market. That...
Aging demographics, technological innovation and an ever -expanding debt overhang are three reasons why inflation has been largely kept under wraps in the last three decades....
A year ago, as the economy was emerging from its third slowdown following the financial crisis, commodity prices looked set to move higher. However, due to the pandemic lockdown,...
The S&P Composite has rallied close to 60% since late March, making a historic and remarkable round trip in a short period of time. You would think that after such a move it...
Where Have We Been? Back in February the stock market registered new highs. At the same time, several of the leading indicators we follow were tentatively signaling the emergence...
Chart 1 below compares the S&P to our Master Economic Indicator (MEI). It combines the momentum of six leading economic indicators and comes into its own when economic...
A large part of the Pring Turner investment approach is derived from the fact that the business cycle is nothing more or less than a repetitive chronological sequence of events....
Even though we have already experienced the longest expansion on record, the latest data suggest the possibility of a resurging level of business activity as the economy emerges...