I feel bad because I saw this on Twitter in the last hour and now can’t find where I got it from (if you know the source please let me know). But it’s a chart of the Richmond Fed’s orders vs inventories overlapped with the ISM. As you can see, it’s a correlation that is both very tight and not terribly confidence inspiring. (Gulp):
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.