My latest post for Alpha Baskets looks at a very useless idea put forth in this week’s Barron’s. Basically someone tied to make an argument that the S&P 500 was overvalued by about 1% based on the level of VIX at some moment in time.
The opening week of 2016 put in a large decline for a five-day period and of course there was plenty of media coverage about it being the worst first week to a year ever and maybe there were other ominous stats too. But forgetting the calendar for a moment, as I have said many times here before, there is nothing happening in the market that hasn’t happened before.
Please click through to read the entire post.
A few days ago I was in Laughlin for the Arizona Fire Chiefs Association conference as the president of the Western Yavapai Fire Chiefs Association. It was a great learning opportunity as well as offering the chance to meet a lot of people to potentially draw on their knowledge in the future should Walker Fire ever need the help. On the way back I took Route 66 through Oatman (look it up) and was able to take what are hopefully some interesting pictures.
The first picture was taken on the Interstate 40 side of Oatman near Golden Valley. It was closed for the winter. There were also several old rusted out cars and a pickup truck on the property.
The second picture is of a 57 Chevy at the car museum at the Riverside Resort in Laughlin. You couldn’t get that close to the cars due to velvet ropes, it was just so-so.
The last picture is on Route 66 in Seligman.