The Biggest New Story of 2017

Mark Skousen | December 28, 2017

“A wise trader never ceases to study general conditions.”

— Edwin Lefevre

The media highlight the biggest new stories at the end of each year.

Among the key events are President Donald Trump’s first year in office, two major hurricanes, the North Korean threat of nuclear war, the national anthem controversy, sexual harassment exposés, the solar eclipse and a major terrorist attack in Las Vegas. The “You Blew it!” column below features even more significant developments during the past year.

On Wall Street, the two major stories were the record-breaking stock market and the Bitcoin phenomenon. Both were largely missed by establishment economists and pundits.

But that lack of foresight did not affect my Forecasts & Strategies subscribers. We stayed fully invested throughout the year and ignored the doom-and-gloom crowd that are constantly predicting a stock market collapse. And we profited several times from the cryptocurrency mania (once doubling our money in four trading days!).

A Year Like No Other on Wall Street

Indeed, 2017 was truly an amazing year for the stock market. It surely was a Goldilocks phenomenon, with the markets not too hot or cold, but just right. Volatility (as measured by the VIX index) virtually disappeared, even for the notoriously unstable Nasdaq. None of the major indexes fell by more than 10% at any time. For the first time in history, at least one of the major U.S. stock indexes rose every month last year. (The Dow and the S&P 500 Index fell slightly in March, but the Nasdaq rose.)

Click here to read the full article, “The Biggest New Story of 2017.