“There will be growth in the spring!” So advised Chauncey Gardiner, brilliantly played by Peter Sellers in the classic 1979 film satire Being There. In actuality, he was the dimwitted Chance the gardener, who through a series of misunderstandings was seen as a savant of sorts and whose advice on economic stimulus was sought by the president of the United States.
As the first green buds finally begin to appear on trees hereabouts, there are manifestly signs of growth. And after the application of trillions of dollars of fiscal and monetary Miracle-Gro, plus roughly one-third of the U.S. population having gotten at least one vaccination jab, it should be no surprise that things are blooming and, in many cases, booming.”
From: Up & Down Wall Street by Randall Forsyth - Barron’s April 12, 2021
Some quick & incomplete take-aways from Forsyth’s always engaging weekly column:
- The VIX (fear / volatility sentiment) has retreated to a relatively low 16.69 reading as of Friday.
- Investor sentiment (polling) is 60.8% Bullish / 16.7% Bearish (a contrarian indicator).
- A client of UBS reputedly placed a large options bet anticipating a significant increase in the VIX 3 months out.
- Extensive discussion of Federal debt / Fed Reserve policies / Potential Dollar reactions / Crypto & Gold