ISM came in at 35.8% – a sharp retraction as the S&P plummets to new lows. It looks like the storm on the east coast has snowed in all the buyers….
Here’s a peak at what some ISM respondents are saying:
- “Customers across the board are being very cautious about ordering any stock.” (Transportation Equipment)
- “Business is very slow, some of which is due to seasonality, and some is due to the state of the economy.” (Chemical Products)
- “Asia previously was over 50 percent of our business and is now close to zero.” (Machinery)
- “Still seeing frequent attempts at increases while everything is reacting to an economy that is retracting.” (Food, Beverage & Tobacco Products)
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.