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DID YOU KNOW? Are many assets - not just high-end Manhattan real estate - suffering the fatigue of LUXE-FLATION? Luxe-flation is a term I coined to address how some luxury product pricing escalates too far too fast. Amazon shares closed down 6.3% yesterday, their steepest 2-day tumble in more than 4 years, down 23% in the past month. Some view this as the ultimate buying opportunity, while others see a downward trend. What is the psychology behind this? When an asset escalates in value at an extreme rate, chances are when it corrects that rate could be extreme too. Amazon is down 23% in a month, 25% off its high....yet 38% above where it was 12 months ago. So while many scream that the sky is falling on Amazon, the value of Amazon is still 38% higher than a year ago. Are Amazon shareholders possibly being a little bratty? (CNBC)
 

"As Long as Fed Chief Powell Stays Committed to The December Hike and Three More Next Year, ... and The President Stays Committed to Expanding His Tariffs, Then History Says We've Got More Downside No Matter What."

- Jim Cramer



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