No stock picks today. We are hitting all new highs across the board today – hard to believe when you consider the following:
- S & P 500 year-over-year quarterly profits fell by roughly 5% — in other words, corporations made less money for shareholders in the second quarter of 2016 than they did in the second quarter of 2015.
Feel free to read that again – profits down 5%, but stocks at all-time highs?
The disconnect between fundamentals and share prices should not be taken as a sign that fundamentals just don’t matter – they just don’t matter to investors right now – given the other alternatives.
Morningstar has a timely article about where you may want to park some cash – while you wait to put new money to work at lower levels:
- Morningstar – Where’s the Best Place to Park Your Cash?
Finally, here is a very funny but scary piece from John Oliver about Sub-prime Auto Loans:
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