Financial markets are now discounting a recession in 2019.

I feel like a pair of brown shoes in a tuxedo world. I am out of touch with every investor and many other forecasters. The buying of last month has been done on Amazon and not in stocks. Financial markets are always dominated by one of three emotions: greed, fear or ambivalence. The stock market has moved from greed in September to fear in December. Investors have not even paused at ambivalence.

PROBANK AUSTIN ADVISOR - DECEMBER 26, 2018