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Musings
May was a particularly weird month in a weird period for the markets (though I suppose that could be said about most times). The furious rally from the December 2018 lows (spurred by the narratives of a cool-headed Fed and Administration) fizzled spectacularly against the realities of extended valuations and partisan politics. Just how bad was it? (My advice is to have a drink before you look at your monthly statement this month - otherwise your tears might water down your beer!)
Basically, equities around the globe got hammered in unison. My more conservatively