Rapidly Rotating Styles

Check out the accompanying pdf and chart collection. (1) Churning underneath the calm surface. (2) Blaming it on TINA. (3) In the broad-bull-market camp. (4) In the sooner-rather-than-later camp on Fed tapering. (5) More churning ahead as earnings growth slows and Fed tightens. (6) Hard to see a correction with M2 up $5.0 trillion since January 2020. (7) Cash has been the painful alternative to stocks. (8) Mag-5 and the four investment styles. (9) Lower-wage workers account for 81% of private payrolls and 68% of wages and salaries.