Briton Ryle

Just a few weeks ago, on Monday, September 20, a small group of traders received an important communiqué. It was short and to the point. This is an actual screenshot of the message: Now, I don’t know if you remember September 20. That Monday was a nasty day in the stock market. That was the day the news about the Chinese real estate developer Evergrande really broke… Evergrande is the biggest real estate developer in China. Or I guess I should say it was the biggest real estate developer in China.

I’ve crossed path with ARK Invest founder and chief visionary Cathie Wood a few times over the last 18 months or so… If you don’t know who Cathie Wood is, that’s OK. She’s kind of the rock-star investor for the current market environment. Every bull market worth its salt has one. From the mid-1980s to well into the '90s, there was value investor Bill Miller. He was Baltimore-based Legg Mason’s shiny star. For well over a decade, he could do no wrong.

I guess “histrionics” is a good way to describe what’s been going on in Congress the last few days. Wrangling over raising the debt limit to pay for THEIR spending, calling the Fed chief a “dangerous man”… You gotta love how these shameless senators — who are mostly millionaires — get on their soapboxes and pretend that massive debt load is somebody else’s fault. It’s truly the theater of the absurd.