Things RIA's and fund managers should tell you.
"Earnings don't move the overall market; it's the Federal Reserve Board. Focus on the central banks, and focus on the movement of liquidity. Most people in the market are looking for earnings and conventional measures. It's liquidity that moves markets"
— Charlie Munger Fans (@CharlieMunger00) January 26, 2023
--- Stanley Druckenmiller
It's the reason we were told to ignore the "inflationistas" in 2021, early 2022 and it's the reason you hear them squealing like stuck pigs at any hint of tightening, much less recession.
