I don’t just bash the media! I like to recognize thoughtful work when I see it, and I think the New York Times, Jeff Sommer has given us that in “The Dangers of a Market Melt-up.” The piece highlights the work of economist/ strategist, Ed Yardeni and money manager/market analyst Laszlo Birinyi. Both have been…
Session 69–“Are we there yet?”
I am refering to a familiar refrain from the back seat for anyone who’s taken a passel of impatient kids on a long road trip. Now those kids have grown up and are asking “Is it a bubble yet.” Actually those kids are mostly talking heads and pundits in the financial media. It is a…
Session 68–“This is no time to get off the equity train”
Really? My title derives from the top story on CNBC.com this morning (10/27/13), on a piece from the Financial Times’ John Authers. I wish Authers, the FT and CNBC had been advising me and others to get on the train 8 months ago (S&P + 14% ) or after the election last November (+ 31%)….
Session 67–I love it when people agree with me!
“The whole, entire secular bull market remains in its very early stages.” These are the words Brian Belski, BMO Capital Markets Strategist, one of the four panel members interviewed by Maria Bartiromo yesterday (10/22/13) on CNBC’s “Closing Bell.” The clip, ‘Forced into the game’ of buying U.S. stocks,’ features along with Belski: the man who…
Session 66–“Don’t Fight The Fed–Fear it.”
An inconvenient truth for the market. Yesterday (October 22, 2013) I woke up to the headline on MarketWatch.com, “Stocks Open Higher On Fed Optimism After Tepid Jobs (number).” The inconvenient truth is that we live in a convoluted world where bad news is good news and good news is awful (for stocks). Even a government…
Session 65–Kick The Can, Maybe Not.
“This Market is a Mystery” I have been trying to figure out why the market in the face of enormous stupidity and dysfunction, remains so strong. Also, today in the face of what could be a temporary reprieve (now a fait accompli), opening the government and increasing the debt ceiling, why didn’t we see people…
Session 64–The Killer App
It would be nice, and a great boon to mankind, if someone would create an app for your mobile device or TV that would flash a Big Red “BS” every time the media went overboard and off the track on a news item. The downside for those who watch a lot of CNBC is the screen…
Session 63–“To Everything There Is A Season”
‘Silly Season’ in Washington and the market does not care! I hate to get all biblical when posting, especially in the same post where I mention politics and Washington D.C. It seems profane and sacrilegious, but it does make for an eye-catching title. To continue, since September 17 (No-Taper Day), a day marking the all-time high…
Session 62–Repeal Obamacare: “A Bridge Too Far”
My title today refers to the Cornelius Ryan novel of the same name that recounts a disastrous World War II operation, an attempt by allied forces to do an end run around the Germans by way of a massive airdrop in Holland. The objective was to capture and control the bridge over the Rhine at…
Session 61–Obsessing on Washington: Real Breakthroughs You May Have Missed!
If you have been putting yourself binge-viewing cable business channels to keep abreast of the latest on the Continuing Resolution/ debt ceiling saga (i.e. The Congressional Clown Show), you may have missed two very important geopolitical developments: a major thaw in U.S.- Iranian relations and a UN Security Council vote favoring a U.S. backed resolution…