Wednesday, September 20, 2023

Fat Tails and Hurricanes

By Mason Sexton

Editor's note: Today in Empire Financial Daily, we're sharing an essay from Mason Sexton – founder and chief investment analyst of our corporate affiliate New Paradigm Research... Mason began his career on Wall Street after graduating from Harvard Business School – working with firms like Morgan Stanley, Salomon Brothers, and Mabon Nugent & Company. He has also nailed some big market predictions – including the 1987 crash "down to the minute"... the bottom of the 2009 market... and the top (and bottom) of the COVID crash. In today's essay, Mason issues a warning about the recent momentum-driven rally in all things tech and AI... A tropical storm slams into Southern California, brining 35 mph winds and a year's worth of rain in two days... The newspapers call it a "once-in-a-century event." Flash flood warnings are issued for Ventura County, which experienced "exceptional drought" and water restrictions only two years prior. Waves begin to lap over docks in San Diego. Dodgers Stadium


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