Still under Powell’s thumb; Quo Vadis Capital November investing letter
Equity prices bounced in October but have slumped to start November. The S&P 500 is down 20% over the past 12 months and the Nasdaq is off 34%. Jerome Powell and his not-so-merry band at the Fed signaled their continuing hostility to equity prices by raising rates last week and their intention to keep going.
November 5, 2022
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