Author Archives: Michael Murphy

Dear New World Investor: CRISPR is an acronym for Clustered Regularly Interspaced Short Palindromic Repeats. They are DNA sequences found in the genomes of bacteria. These sequences are derived from DNA fragments of killed agents that had previously infected the bacteria. They are...

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Dear New World Investor: Bloomberg said the tailwind from surging immigration would boost March quarter GDP. Click for larger graphic Oops. Real GDP only grew at 1.6%, short of all estimates including the Atlanta Fed’s GDPNow +2.7%. Could it be that housing massive illegal immigration from South America, Asia,...

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Dear New World Investor: On Tuesday, Fed Chairman Powell said inflation is coming down slower than he expected, so it’s “high – but not higher – for longer.” Wall Street did a decent job of panicking the weak hands into selling them some cheap stock as the CNN Fear...

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Dear New World Investor: Is the economy hot or not…and does the Fed care? The answer is that it is stronger than the Fed expected, but they don’t directly care. What they care about is inflation and unemployment – those are their two mandates. Inflation We got the March...

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Dear New World Investor: Wall Street wants you to focus on how many times the Fed will cut rates this year even though economic data is coming in stronger than they expected. Almost every brokerage firm expects a quarter-point cut at the June 12 Fed meeting, followed by two...

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Dear New World Investor: The headline February Consumer Price Index was +3.2% year-over-year. a skotch higher than the +3.1% expected and the +3.1% in January. The lagging shelter component accounted for about two-thirds of the increase. The month-over-month CPI was +0.4%, right on the consensus but a tenth above...

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Dear New World Investor: Stocks hit new highs as Chairman Powell told Congress the central bank is in no hurry to ease policy, though he said rate cuts are likely to come this year. I’m still doubtful, although I think a mild recession will start this year. It takes...

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Dear New World Investor: Scotland Yard detective Gregory: “Is there any other point to which you would wish to draw my attention?” Sherlock Holmes: “To the curious incident of the dog in the night-time.” Gregory: “The dog did nothing in the night-time.” Holmes: ”That was the curious incident.”   –...

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