Rick Ackerman
Rick Ackerman Articles
Last week's commentary went full contrarian with the seemingly nutty idea that 2023 could be a dull year for investors despite the looming possibility of a global economic collapse. Inflation, deep recession, war, disease and political...
Early in October, it lifted my spirits to be able to bloviate about how a too-widely-anticipated October crash seemed as likely as a Martian invasion. One lunar calendar-based prediction in particular had October 21 as the crash date,...
Twitter and bitcoin share a key similarity in that their success while it lasted was just hubris. Realize that both companies were birthed by a virtual medium capable of monetizing turds if there is discoverable demand for them.
Gold Loses Status as Haven, declared a headline in the Wall Street Journal on September 22. Two days later gold fell to $1629, the lowest daily close in more than two years; then it began an ascent that has continued to this day. A...
The seemingly strong rally that ended the week merely balanced out three days of bland weakness that had preceded it. In the S&P 500, the upthrust steepened by the hour but ultimately failed to surpass any important prior peaks.
The spread between permabulls and permabears is at an extreme these days, even for October. This is the month when pessimists' hopes are highest that an epic bear market will correct dangerous excesses that have been building up in the...
I've been reluctant to give permabears the all-clear because, being one myself, I've seen the bull market roar back from death a dozen times since 2009, turning my smug eulogies into embarrassments.
Call it a recession or anything else you prefer, but the bottom line is that the prosperity of decades past is not coming back. Thinking expansively about the economy is no longer part of the American mindset, since, as should be perfectly...
Is the stock market on its way to new record highs? The thought would have seemed preposterous just a week ago, when the Dow’s still-presumptive bear rally had yet to exceed even a single peak on the daily chart.
Last week's price action served to remind us that big rallies and even entire bull markets are driven mainly by short covering. This doesn't happen by accident; Wall Street's quasi-criminal masterminds set short squeezes in motion using...
