Will There Be a Peace Dividend?

(1) Another bout of irrational exuberance? (2) Will there be a peace dividend after trade war ends? (3) Stocks rally despite recession-like readings for M-PMIs in China and Europe. (4) Negative economic surprises. (5) Can old age kill a bull market and an economic expansion? (6) Joe devised an alternative to S&P 500 divisor. (7) Joe’s share count confirms that buybacks haven’t boosted earnings per share by much. (8) Drilling down to the sectors’ share counts. (9) Melissa reports that TCJA may reduce stock compensation.