“Belief in myths allows the comfort of opinion without the discomfort of thought.” – John F. Kennedy The current stock market is exposing the myth of market efficiency. The myth says…
“Buy and Hold” Is NOT “Still A Winner”
Investors are being advised by Princeton Professor Burton G. Malkiel (“ ‘Buy and Hold’ Is Still A Winner”) to hang in there, even when the market drops 60% of its…
QE2: Will Investors Buy Higher Prices?
The chief role of the Federal Reserve used to be to fight inflation. It was a role the Fed played well, generally holding inflation in check since the 1980s. With…
When Good News Is Bad News
Sometimes investment managers live in Bizzaro world, the place in the old Superman comics where everything is the opposite of what logic would dictate. A case in point is the…
Are You Ready For Another “Flash Crash?”
Investors have plenty of reasons to be skittish. The “flash crash” in May demonstrated that the stock market doesn’t always behave the way it’s supposed to. Human error, deliberate manipulation…
Signs Of A Market Breakout
While nothing is ever certain until it happens, the stock market appears to be ready for a major breakout from its recent short-term trading range. If the S&P 500 closes…
Payrolls Up Just In Time For Labor Day Weekend
The stock market was given another boost by better-than-expected economic data today, with an August jump of 67,000 jobs in the private sector. Overall, non-farm payrolls declined by 54,000, but that…
Double Dip Less Likely
Global equities are starting the month off on a positive note. The August Chinese Purchasing Managers’ report came in with better-than-expected results, as did Australia’s Gross Domestic Product. In the…
Jobs Report
Bloomberg reported that private payrolls rose by 71,000 in July, which is less than forecast. The S&P 500 declined 13 points on the news. In addition, bond yields continue to…
Economic Briefs
Supply Chain Strengthening The ISM Service Index came in at 54.3 for July, a number that’s better than expected. The index was at 53.8 in June and was expected to…