Better Luck Next Fall I just got back yesterday from the New Orleans Investment Conference, and I actually came to Connecticut for a few days; I really wanted to experience some of the fall foliage. It's normally at its peak in the beginning of November. But, unfortunately we had a big storm here - a lot of rain, a lot of wind, and it knocked most of the leaves off of the trees. So you know what they say about the best laid plans… hopefully I'll have better luck next fall. Stock Market High on Trade Rumors But as the leaves have been falling from the trees, stocks have been going the other direction. Yesterday, all of the major stock market indexes hit new record highs. I think the catalyst, again, were rumors about a potential phase 1 trade deal. Of course, it really is ridiculous now. What rallies the market is not the rumor of an actual trade deal but the rumors of a phony trade deal - a phase 1 deal which really isn't a deal at all. In fact, to the extent that anybody is even celebrating phase 1, what they really celebrating is that the trade war is over. That Donald Trump has basically surrendered without admitting that he has surrendered. In fact a lot of the talk about what the Chinese even need to get the phase 1 deal is for all of the tariffs to be removed. Not just cancelling the future tariffs, but to take away all the tariffs that are already there, which, of course would be a relief for the American consumer, who, contrary to Donald Trump's claim, they're the ones who pay the tax - not the Chinese. Buy the Rumor, Sell the Fact… Again? But, basically, what the markets would really be celebrating, is if we went back to where we were before the trade war ever began. Of course, this is not a victory for the president if all the markets could hope for, is a return to the status quo, but again, once we get that deal - if we get that deal, it should be a "buy the rumor, sell the fact", especially since the fact is not going to live up to the height of the rumor.Our Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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