In January of 2013 Michael Smolinski, of Energy Direction’s, Inc., presented his economic and stock market outlook to the CFA Society of Houston; an outlook guided by all that was happening to energy. He predicted an exciting economic expansion led not by the U.S., but by hundreds of millions of new consumers outside the country eager to live more like we do. The S&P 500 rising from 1,461 then to more than 2,000 now, despite so much discouraging here, confirms that much can be gleaned from all that the huge amount of energy and economic data can tell us.
Many were worried 21 months ago about where we were and where we were heading. That hasn’t changed. However, incredible technological advances, including in energy, have powered a wonderful increase in activity and value. Where we are and where we are heading is poorly understood. This presentation will bring us up to date by examining the trends that have us where we are and that are determining the future.