Actually, I think this is a Warren Buffett quote but I could not document it. Buffett believes that when you buy something you should be willing to hold it even if the market were to be closed for the next ten years. He subscribes to the idea that day-to-day fluctuation in prices are based on…
Tag: China
A ‘Bad Trip’ Down Memory Lane
The ‘bad trip’ I’m alluding to in my title was the type some substance experimenters used to get from self-administered hallucinogenic drugs like LSD (Lysergic Acid Diethylamide). This was the preferred trip-inducing substance of Harvard psychology professor Dr. Timothy Leary who thought it might have great potential in psychotherapy. “He used LSD himself and developed…
The beginning of the end
Or, is it the end of the beginning? Or, is it, as stated in the eloquent and somewhat humorous words of Sir Winston Churchill, ” … not the end. This is not even the beginning the end. But is perhaps the end of the beginning.” This line was delivered to the attendees at the Lord…
“These are the times that try men’s souls”
Thank you Thomas Paine and CNBC contributors Fred Imbert and Ryan Browne for the title and inspiration for this post. Paine’s pamphlet “The American Crisis” penned during the Revolutionary War, did indeed reflect dire times in our history. Meanwhile, CNBC’s post-market post (Dow drops 200 points on worries about global economic growth–11/9/18) reflected on potential dire times in…
” … , I have it from a reliable source that the sky is falling — SELL!”
Of course, Henderson, the broker at the other end of the line, unaware of the severe consequences of passing inside information, passed this invective from Chicken Little along to ten of his best clients. Before you know it, you have real panic going. Last week’s best frightful and misleading commentary comes to us from the…
Janet, you’ve really stepped in it this time!
That was the word from a trio of experts (?) Friday on CNBC’s Closing Bell. The ‘three wise men’ were: Guy Adami trader, Art Cashin, Manager of Floor Operations for UBS and CNBC bond maven, Rick Santelli. To a man, they were blaming the current market swoon on the Fed’s move to raise the the Fed Funds…
Stock Market or Stewpud Markit?
My take: hands down, it is the ‘Stewpud Markit’. I have never, ever seen the expenditure of intellectual energy that has gone into the stupid pursuit of the meaningless questions, ‘when will the Fed begin to raise rates for the first time after an 8 year hiatus and what will be the resultant economic impact?’…
Back up the hearse … Cue the mourners … This market’s toast
When you have the world’s second largest economy ($10.36 trillion GDP) growing at 12% per annum, you are going to have a significant upward tug on commodity prices. It did, and it was China and this was happening in 2006 /2007. In 2009, that all changed as the Chinese government began a concerted effort to…
Sesssion 94–Rootin’, Tootin’ Putin
What a guy. His continued saber rattlin’/pistol packin’ stance over the Ukraine, plus continued worries about a Chinese debt crises and, voila, you have a mini market meltdown. It always amazes me how quickly the market can turn tail and run on little or no new news. On the other hand, yesterday may have…
Session 85–“When will they stop talking about ‘the taper’?”
China is growing. The ‘Dreaded Taper’ is growing. Several emerging market currencies are sinking and the media finally has things to obsess on after a very dull fourth quarter, where most of the popular indices (save the NASDAQ) have made new all-time highs. One of the key points that has developed out of this…