— When I see comments like this, especially from the likes of Jim Cramer (Squawk on the Street, 2/7/20), it gives me pause. — Cramer’s ‘big call’ history is more than a bit spotty. — Flawed as the much-heralded concept of ‘peak oil’ was back in 2008, writing the obituary for thefossil fuels industry may be a bit premature. When…
” … Corona virus to ‘paralyze China,’ don’t buy the dips” — a wannabe epidemiologist
— This grave assessment is not my own but that of Mohamed El-Erian, Allianz chief economic advisor and ex-Pimco CEO. — From the point of view of the media source it emanated from, CNBC, it is a great headline … wonderful click bait — Should it be part of your decision process? Is El-Erian credible?…
Markets and Media gird themselves to face a new challenge
2019’s big concerns evaporate Last week I attended an investment committee meeting for a small foundation for which, I serve as a board member. One of our members, a financial planner/ investment advisor, serves as a liaison to the street and his firm provides the committee with investment and economic commentary. His report led with…
“Everyone Seems to Be Bullish … Here’s What could Go Wrong”
What a buzz kill … I was just beginning to think “full Speed ahead” was the order of the day. A tale of these potential woes was laid out this morning (8:57 ET–1/4/2020) in a post by CNBC markets editor Al Lewis. Though the article pulls no punches, it really is just a restatement of…
“Damn the torpedoes … full speed”…ahead!
My title today derives from a quotation attributed to rear admiral David Farragut during the 1864 Battle of Mobile Bay. The actual sequence went more like this: “From his high perch, where he was lashed to the rigging of his flagship, USS Hartford, Farragut could see the ships pulling back. “What’s the trouble?” he shouted through…
“Bull markets often end with a euphoric rally called a ‘blow-off top.’ We may have just had one”
Another ‘OMG’ moment from the financial media They must be doing this on purpose (click bait) because no serious observer of the markets could even come close to calling the market’s action over the past few weeks a blow-off top. However, CNBC found themselves an analyst (a serious observer) who would make that assertion, Ned…
“Buy, Sell or Fold,” the market or the MLP sector?
A Glance in the Rear View Mirror In March of 2013, I penned my 14th edition of kortsessions.com, “Buy, sell or Fold?”. We had just broken definitely above the previous record high ( March 2000, s&P 500, 1550). The actual record high did occur in October 2007 (1576) but it was a very short-lived move…
“Buy, Sell or Fold” — A market history and MLP retrospective
A Glance in the Rear View Mirror In March of 2013, I penned my 14th edition of kortsessions.com, “Buy, sell or Fold?”. We had just broken definitely above the previous record high ( March 2000, s&P 500, 1550). The actual record high did occur in October 2007 (1576) but it was a very short-lived move…
“Don’t celebrate the Dow record too much” or doubling down on a bad call
The bad call was the header of my last week’s post, “The wrong kind of stocks are leading the stock market to records.” What kind of stocks might those have been? They were defensive stocks … healthcare, utilities, REITs. Why was this bad? It was a sign the smart money was fearful. And that’s not…
“THE WRONG KIND OF STOCKS ARE LEADING THE STOCK MARKET TO RECORDS”
You cannot make this stuff up! Thus spake Mike Wilson, Morgan Stanley’s U.S. chief equity strategists. The “wrong kind of stocks” in Wilson’s mind are defensive … names like Pfizer, Merck and HCA. This is all happening while the faster growth leadership names like Amazon and Alphabet (GOOG) have been lagging. To Wilson this means…