Rate Cuts Are No Panacea

| September 28, 2019
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This is your daily reminder that as the 4th quarter gets underway economic cycles still matter. More than tweets, “trade deals” and any other headlines CNBC throws at you.

As you can see in my Chart of the Day, the last two rate cut cycles have not been friendly to the equity markets.

Don’t forget that the 3rd quarter comparisons are the toughest of this cycle and equity multiples close to the highs this cycle.

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Just saying!


Stay Tuned, Disciplined & Patient! {TJM}

The Investor & Character Equation (ICE) | S + R = O


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