The revised Industrial Production(IndPro) series posted a new high since COVID. We can expect the manufacturing PMI, a mkt psychology indicator, to be pulled higher by the recent grouping of positive economic reports.
Again, market perception is in flux especially for the Momentum Investors(think huge portfolios moving day-to-day in a relentless struggle to stay ahead of investment developments). We are not doing that.
What we are doing is investing with the highest skilled management teams at the lowest prices we can identify and hold till the rest of the market catches up. LCI Inds recent note indicate this can take several years with disruptions from unexpected events. This is the reason for diversification.
