My wife Michele and I recently attended the last show on Paul McCartney’s U.S. Tour at MetLife Stadium in northern New Jersey. The last time we’d been to that venue for a show was pre-pandemic in the summer of 2019 to see The Rolling Stones, and it felt good to see another of the transcendent artists of our generation perform. On the eve of Sir Paul’s 80th birthday, the crowd appropriately serenaded McCartney, and he returned the favor with a rollicking version of “Birthday”.
While “Yesterday” was not among the classics performed, the lyrics nonetheless remind me of the state of financial markets: “Yesterday, love was such an easy game to play, now I need a place to hide away, Oh I believe in yesterday.” Yesterday, making money in stocks, bonds, crypto, real estate, commodities, NFT’s, Meme stocks, SPACs was an easy game to play…and now many need a place to hide away…ah for yesterday. Maybe I’m Amazed – and perhaps I shouldn’t be – at the greed to fear mentality that plays out repeatedly, underpinning market cycles.
To read more, download the full thought piece here.