Merry Christmas everyone.
I remember the good old days of September 2018 when America was still great and the bears were dead:
In just three months since, the S&P has officially entered a bear market (down 20 percent from that tweet). It is also the worst December in history for the stock market.
While I fret about the stock market, my friend Peter, who has traded commodities since before I was born, said today that at $43 oil (today’s closing price) Saudi Arabia and Iran will go broke. That sounds festive.
Rest up for 2019 everyone.
Originally published at Howard Lindzon.