Our V Shaped Recovery

We are having a V shaped recovery it appears.

What I mean by that is based on our presumption via stock prices that in approximately 6 months from now we will be back to normal.

Stocks & Recovery

Yes our government has stepped up to the plate. That is, technically through the end of the last stimulus check.

What about so far …


Foot Traffic

Source : AEI Foot Traffic Index

Returning to Work

Source: Kastle Systems “Back to Work Barometer”

Stock valuations (“CAPE”) reflect a mood last seen with internet stocks while the economic backdrop is worse than during the last depression.

Stock Valuations

95th Percentile

Expected 2020 GDP: Negative 6%

4th Percentile

A post script interview with Robert Shiller

Subject- “Irrational Exuberance” & Bubbles

By Terry Grennon

Asset Allocation Strategist