I realize it has been a while since I’ve done one of these but this quote crossed my mind the other day so I thought I’d share. It comes from Jack Schwager who is best known as the author of the Market Wizard series which I greatly enjoyed. In these books Mr Schwager interviews investors and tries to better understand how each one found success. The original Market Wizards came out in 1989 and still holds value for the incredible insights that Jack discovered. He followed that one up with a second book in 1992 and a third in 2001. In 2020, he published “Unknown Market Wizards” which I look forward to reading soon.
“The markets are not random. I don’t care if the number of academicians who have argued the efficient market hypothesis would stretch to the moon and back if laid end to end; they are simply wrong. The markets are not random, because they are based on human behavior, and human behavior, especially mass behavior, is not random. It never has been, and it probably never will be.”
-Jack D Schwager
Upcoming Data Releases
This week doesn’t see nearly the data dump that last week saw. Here’s what is coming up:
Tuesday, February 7th
Balance of Trade (Exports/Imports)
Fed Chair Powell speaks at the Economic Club in DC
Fed Vice Chair Michael Barr speaks at HOPE Economic Mobility Forum
G.19 Consumer Credit
Wednesday, February 8th
MBA Mortgage Data
Fed Vice Chair Barr speaks at HOPE Economic Mobility Expo
Fed Governor Waller speaks at Arkansas State AgriBusiness Conference
NY Fed President John Williams speaks at the WSJ CFO Network Summit
Friday, February 10th
Fed Governor Waller speaks at the Global Interdependence Center Conference on Digital Money, Decentralized Finance, and the Puzzle of Crypto
Michigan Consumer Sentiment
H.8 Assets and Liabilities of Commercial Banks