Postcards: Mr. Bill Buys Some Banks
Our Equity Strength Signals are back to Yellow and looking to continue a breakout after a three-week collapse across the S&P 500 and the Russell 2000.
It was a monumental rebound today, and the Russell 2000 (IWM) is just strong enough to signal that we’re back in positive strength territory. Of course, tomorrow brings a critical jobs report and we will see the reaction to Apple (AAPL) earnings after the tech giant reported its fourth consecutive quarterly sales decline. That 170 level on the Russell 2000 ETF is a critical line that must be crossed for momentum. All sectors have now experienced weekly gains.
Dear Fellow Expat:
Two days ago, I scrolled through Barron’s to read an update on Bill Gross.
Gross co-founded Pacific Investment Management Co. (PIMCO), a global fixed-income investment company, and was long referred to as the “Bond King.”
“Bond king” is a great title.
Sure, it’s no Sir Gregor MacGregor’s stint as “King of the Florida Republic,” but Gross clearly did very well for himself. He went on to run a massive fund at Janus before “retiring” to run a Family Foundation with assets of roughly $400 million.
Even in retirement,…
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