If you spend any time watching CNBC, you know who ‘Downtown Josh Brown’ is. He is a thoughtful analyst on the markets and someone I consider a friend. He writes a blog called The Reformed Broker that I think can properly be characterized as irreverent.
His latest letter is an Outside the Box way of thinking about the current bull market. I’m not sure whether he is offering this tongue in cheek or not, but he is speaking to the same thing that I’ve been talking about for quite some time: the growing gap between the Protected and the Unprotected. It’s about the angst of the middle class and all those who feel that the future is changing too fast and in ways that are hurtful to them personally. And frankly, many of the protected class recognize that they are increasingly vulnerable, too. For instance, it is clear that various aspects of legal work and medicine will be automated within the next few years. It’s not just self-driving cars that are threatening jobs.
I’m taking a morning flight back to Dallas from San Francisco, where I have spent the last two days immersed in all matters biotech and antiaging. The Buck Institute is at the center of the antiaging efforts, and they assembled a tour de force lineup of scientists to discuss the latest in research to not only turn back the clock on our aging bodies but also to figure out ways to heal the diseases of aging. Being around such creative and entrepreneurially driven people has been exhilarating.
This post was published at Mauldin Economics on OCTOBER 18, 2017.