What are the main drivers of today’s bull market in stocks?
What are the most dangerous sectors to avoid?
What asset class appears to have recently begun a multiyear bull market?
What about the social proximity trade as the world reopens … and inflation … and the impact of social media on the markets?
Today, I’m going to dive into all these questions and more by publishing a partial transcript of a recent conversation between myself and InvestorPlace CEO Brian Hunt.
A couple of weeks ago, Brian interviewed me as part of a special, members-only webinar for my Fry’s Investment Report subscribers. I had a great time doing it — and I believe Brian and I shared some great information — so I’ve decided to share part of it with my broader Smart Money readership (after editing out references to specific investments reserved for paying subscribers).
There’s a great deal of valuable, actionable content to cover, so enough introduction.
Let’s jump right in …
The State of the Stock Market
Brian Hunt (BH): What’s your take on what the big movers of the market are right now?
Eric Fry (EF): It’s certainly an interesting market. I think it’s unique in the sense that it’s predominantly a liquidity-driven market, rather than a valuation-driven one or an economically driven one.
There are a lot of folks throwing a lot of money at it. It started about a year ago with the additional government stimulus efforts, and a lot of people…