Jan 15Liked by Brad Freeman

Hey Brad. I imagine your watch list is pretty long. In spite of that I suggest you add MercadoLibre (MELI) to it (if is not already there.) I reluctantly bought them because of the geopolitical risk...kept the position small...etc... They have grown to our largest holdings

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Jan 14·edited Jan 14Liked by Brad Freeman

Interview SHOP leadership? WHO will you talk to?

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Impacts for investors:


Putting it all together, from both a fundamental and technical perspective, I see the following:

US stock indexes appear to be headed lower over the course of 2023 and maybe into 2024; this is in accordance with the charts, the labor market, and the Fed themselves basically telling us this is what they want.

At some point in the year, on the back of what will eventually be a slightly more dovish Fed (maybe not lower rates, but a less-hawkish tone at least) and a potential washout of bullish sentiment, both stocks and commodities may begin a very strong multi-month cyclical bull market rally.

We have seen the first year of what is likely to be a multi-year secular bear market, likely to be characterized by wild swings in both directions, creating a lot of opportunity for the active investor.

The best portfolio for this sort of environment is likely comprised of high quality dividend-paying value stocks, select emerging market ETFs, US equity index shorts, and a substantial amount of cash or short duration cash equivalents.

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