Hot Money

(1) Definitive definitions of meltdown and melt-up. (2) The numbers game. (3) Trump’s YUGE tax-cut plan cut from 3½ pages to 1 page. (4) Statutory vs effective corporate rates. (5) In my dreams: 15% tax rate on sole proprietorships. (6) Nervous about sky-high valuations, but even more nervous about missing more gains. (7) Equity ETF bubble continues to inflate. (8) Animal spirits a bit less spirited, but still high given softness in hard data. (9) Stocks’ pep rally led by spirited actual and expected earnings. (10) Movie review: “The Lost City of Z” (- -).