We are at that time of the year when many of us turn to prediction and reflection. Predictions are HARD to do. Few in the media or punditry ever get the economy or stock market right. Having made this observation I will venture out on the ledge and make one prediction. The media will continue…
Tag: New York Times
Session 78–Apres Taper, What’s Next?
The confused nature of media reaction to the market’s move higher on last Wednesday’s Fed announcement on the taper of Quantitative Easing (QE), indicates they are totally lost. They can’t figure out why the market responded as it did, up nearly 300 points on the Dow. In my world it makes total sense. Here is…
Session 77–What Made The Media Salivate In 2013
I started my blog to give clarity and perspective to the daily barrage of hype and misinformation from the mainstream and financial media. I hope my work has been helpful in that respect. As we approach the New Year, I thought a retrospective on kortsessions might be useful, a look-back on the issues that the…
Session 76–“‘Crisis’ is a state of mind”
“Stock market could be hitting dangerous triple top.” With headlines like this you don’t have to be concerned about the integrity of that “Wall of Worry.’ What is even more overwhelming is the lengths to which the authors quoted in this piece would go to make their fearful point. What is a ‘triple top?’ In…
Session 73–“Its déjà-vu all over again”
Thank you Laurence Peter Berra (a.k.a. Yogi) for this eternal verbal pearl…what a way with words! I cite Yogi’s pearl to point out suggestions on the part of a few brave market strategy types that the 2013 market is deja-vu 1982, the last time stocks lifted off for a secular bull run. This is a…
Session 70–“The Dangers of a Market Melt-up”
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 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 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…