Very Narrow Leadership

Obviously my path over the past 50 some years, being focused on the concept of hedging assets when overvalued, has not served me well in the current fluff environment.

Today it may be instructive to look at what is leading the markets, the FANG 5.

The other part of the Fang crowd, what I call the “Fang Other 15” stocks, stocks that think they are Fang like, todays performance is not so impressive.

In my opinion, What is the Market either missing or ignoring?

The 2.0 T infrastructure bill with the 28% corporate tax rate at minimum will pass . The fight against inequality has just started.

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