Bob Farrell’s investing rules remain relevant today. Markets revert to the mean and excesses lead to opposite extremes. There are no new eras, and sharp rises lead to sharp corrections. The crowd often gets it wrong at extremes, driven by fear and greed. Strong markets are broad-based, and bear markets have phases.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend