Image Source: Pexels
 

Are the stock markets (and not just in the US), in celebration of the just landed Odysseus spacecraft on the moon. Or as Jackie Gleason from "The Honeymooners" would say, the stock markets are "to the Moon, Alice.'

Here's a little food for thought: Many markets, many factors. Conflicts and crosscurrents. There is no one way. One effects the other.

Pieces of the Modern Portfolio Puzzle
I. Traditional investing – CFA stuff, long term
II. Market structure – dark pools, algos, hedge funds, HFTs, primarily short term
III. Alternatives – private markets, digital assets
IV. Liquidity flows – real economy, financial economy, central banks
V. Narrative – the story, rationalization/justification  

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