Global Market Commentary, Analysis and Investments
By now, everyone and their mother knows the US stock market is a losing bet. The big indexes went nowhere over the last decade, absolutely plummeted in the last few years and now even the 2009 snap-back rally is officially kaput.
Thus, a logical question: Is it time to start buying stocks again?
[Read more...]Dow up…gold down. That's been the micro-trend over the past few days. The 30 bluest chips are up about 400 points since last Thursday. The Midas metal, having suffered a $21 selloff since this time yesterday, is down to around $1,160 an ounce.
At first glance, it would appear that things are looking up for the world's most indebted economy. People are selling their catastrophe insurance – gold – and freeing up a bit of cash to take to the casino – stocks. But as our fellow reckoners already know, things are not always as they seem.
[Read more...]Well, they don’t make it easy for you.
Yesterday, the Dow rose 225 points. Enough to keep people guessing. Enough to keep people in the market. Enough to give the ‘recovery’ spotters something to look at and investors something to hope for.
Is the market really headed down…or not?
[Read more...]Today, the euro. Tomorrow, the dollar.
The euro is taking a beating. Investors are worried that it won’t survive Europe’s debt problems.
Note, we said ‘debt’ problems. Many experts still believe it is a liquidity problem. That is, they think it’s just a problem of finding financing. They blame speculators and hedge funds for panicking…or for deliberately cutting off the flow of juice.
[Read more...]Evidence-based investing is so compelling numerically that it attracts vast amounts of capital to managers who have established track records of deploying it successfully.
But it has produced a market full of capital awarded to funds based upon historical trends, which are subject to dramatic realignment, particularly in light of what may be a generational economic episode that may result in the realignment of trade between nations, the bankruptcy of major global entities, or even entire countries and their currencies, Iceland being the first to fall.
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Faith in the Gold-Dow Ratio
Wall Street did no damage yesterday. It left peoples' money where it found it…as The Street took off for Labor Day. But the financial press didn't stop…and neither did we at The Daily Reckoning.
The most amazing thing is that the people who are supposedly the most able thinkers seem unwilling to do any thinking. So many well-educated, smart economists spend their lives trying to understand what is going on. So few really seem to care.
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