"CPI Is Not Peaking" And Even If It Were, Peaking Does Not Mean Rolling Over: Kenny Polcari
The 38 year market veteran offers up his take as to why investors shouldn't be kidding themselves about buying the market just yet.
Friend of Fringe Finance and well known financial news contributor - as well as 38 year veteran of markets Kenny Polcari has been kind enough to share his most recent thoughts on the market with our readers.
I’ve been lucky enough to be friendly with Kenny for about a decade now, and he was the first guy to ever take me on what I can only describe as an unauthorized tour of the NYSE trading floor, where I not only got to personally tell several confused specialists and market makers that the Chinese names they were trading were frauds that didn’t even exist, but also
The tour didn’t last as long as I would have liked, to say the least. But I’ve always appreciated Kenny’s willingness to welcome people into his busy world for nothing in exchange, and his decades of experience, which gives you a pulse on markets that only time can help you recognize.
For those who aren’t familiar with Kenny or don’t recognize him from TV, he is Managing Partner of Kace Capital Advisors, Chief Market Strategist at SlateStone Wealth, and a Managing Director at Campfire Capital a boutique investment bank. He started his career on the floor of the New York Stock Exchange (NYSE) as an institutional broker back in the early eighties when the march of electronic trading was already taking its first steps, and the great bull was first learning to run.
Prior to the print on Wednesday - and then after it on Thursday - Kenny shared with us some of his thoughts about the state of inflation in the country. First, he took exception with President Biden and NY Fed President Johnny Williams’ comments this week about inflation.
“At 12 pm [Tuesday] Joey took to the stage and blamed high inflation once again on the pandemic – which was 2 years ago already, and more recently on Vladimir Putin and his ongoing war in Ukraine,” Polcari said.