Nice use of the Hillary meme. Like her incarceration, this market crash should have happened a long time ago, one would think.
I have been wondering when the crash is going to get here. Seems long in the tooth. Have been in 28 day T-bills and money market accounts that invest in very short term gov't securities for a while. And waiting. And waiting.
I think Wenzel based his thinking on the writings of Fritz Machlup if I recall correctly. I'll try to find the reference.
Yes, the book is The Stock Market, Credit and Capital Formation. It's on mises for free read. It's actually excellent. Machlup doesn't say that one should follow a 13wk trend though. He just lays the framework of how the business cycle should impact the stock market. That was RW's experience/playing around with it. And everyone seems to think Wenzel had other tools that helped with timing. Likely RSI related.
Machlup also had an amazing insight in that if the money supply were flat, the total market cap of the stock market should also be flat over the long run. Money always flows to the highest return, so a rising stock market in an economy with a flat money supply should see flows out to restore it to its old level.
Nice use of the Hillary meme. Like her incarceration, this market crash should have happened a long time ago, one would think.
I have been wondering when the crash is going to get here. Seems long in the tooth. Have been in 28 day T-bills and money market accounts that invest in very short term gov't securities for a while. And waiting. And waiting.
I think Wenzel based his thinking on the writings of Fritz Machlup if I recall correctly. I'll try to find the reference.
Thanks Alan!
Yes, the book is The Stock Market, Credit and Capital Formation. It's on mises for free read. It's actually excellent. Machlup doesn't say that one should follow a 13wk trend though. He just lays the framework of how the business cycle should impact the stock market. That was RW's experience/playing around with it. And everyone seems to think Wenzel had other tools that helped with timing. Likely RSI related.
Machlup also had an amazing insight in that if the money supply were flat, the total market cap of the stock market should also be flat over the long run. Money always flows to the highest return, so a rising stock market in an economy with a flat money supply should see flows out to restore it to its old level.