In today's edition, Joel talks about the return of global growth concerns and how the broad markets reacted to Japan's dismal second-quarter GDP numbers. What worries Joel about today's market are investors' expectations and certainty placed on the world's central banks and the U.S. Congress. The markets have, by and large, factored economic stimulus from central banks while Congress has kicked the can down the road on tax reform. If these measures are sidelined, the markets would panic, leading to a prolonged and dangerous sell-off. While daily numbers should be noted, investors must keep their sights on the long-term picture.
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