“ ‘ Real’ Jobless Rate still above 10 % in most states.” “The Economy may stink, but the market doesn’t care.” “Why Jobs Outlook Just Got A Whole Lot Worse.” This is the headline and subtopic list from today’s edition of CNBC.com. Kudos to the editor, John Carney and senior writer, Jeff Cox for this memorable piece…
Session 29–Central Banks Can Buy Equities!! You learn something new every day.
I have been around this business for a long time. In my entire career I have never heard of any central bank buying stocks. Now, I did hear some wag on one of the political / entertainment shows a month or two ago asserting that the reason our stock market had done so well was…
Session 28–Apple Stinks! They loved it at $700…They Hate it at $400.
When we started this blog, we said we would not be making stock recommendations. This will sound like one and I will admit in the interest of full and complete disclosure, I did buy some Apple today. I did it because I felt that the media/ street rant that followed the release of quarterly earnings…
Session 27—“Dow 16000” or “A Deflation Wave” “The Best of Times” or “The Worst of Times”
My apologies to the late Charles Dickens for ripping off the segments of the opening line of his classic, “A Tale of Two Cities.” Essentially, that is what I got this week on the front page of Barron’s Magazine (a tale of two markets): Jack Willoughby’s “Dow 1600!” and Randall Forsyth “Up and Down Wall…
Session 26—The Trifecta: Global Economic slowdown, E.U. Meltdown, Terror in Boston.
Monday morning, April 15, the market is greeted with the news that the Chinese economy grew at a paltry 7.7% in the first quarter (disappointing, as expectations were for an 8% gain). This humongous miss (3/10ths of one percent) sparked a major sell off in commodities (including gold) and today (4/17) the media has morphed…
Session 25—The Boston Marathon
My heart goes out to the victims of terror at the Boston Marathon, those who lost their lives and those who must bear senseless suffering from their injuries. In a sense all Americans are the victims of this event, as it brings us back to the point that there are people in the world bent…
Session 24–Henry Blodget, Alive, Well and Rehabilitated?
I have to comment on the return of disgraced analyst/internet maven/ and founding contributor to the tech implosion of 2000, Henry Blodget. For those of you who don’t remember, Henry made his name back in 1998 by predicting Amzon.com would rise to $400. And it did, and it did so by doubling in a matter…
Session 23—“Fed Minutes Show Sharp Division Over ‘QE’ Duration”
Remember the “Fed Bolt From Hell” from sessions 15 and 18? Well, the headline above would make one think that “FBFH” might be a lot closer than we think. I mean this is pretty dire stuff as it gives the impression that maybe a real movement toward a policy shift was at hand (or at…
Session 22–“Latecomers Flocking to the Party”…Really, New York Times!
The front-page story of the business section of this Sunday’s (April 7, 2013) New York Times featured our headline quote. This is a story that, on the surface, would make any respectable contrarian cringe, all about average investors piling back in the market at just wrong time. It seems to be a common theme for…
Session 21—Whistling Through The Graveyard—Hats off to CNBC!!
It is very rare when I have something nice to say about CNBC. But I do today. They conducted an excellent interview this morning with Mark Mobius, Executive Chairman of Franklin Templeton Emerging Markets Group…a very credible source. Becky Quick and Joe Kiernan were extremely differential to Mr. Mobius and his long, distinguished career managing…