Be sure to check out “Broke: The New America Dream” by Michael Covel.
I have a brief cameo (while wearing a terrible shirt).
Consumer Credit outstanding fell $14.8b in Sept seasonally adjusted, almost $5b more than expected and marks the 11th month in the past 12 of declines. At $2.456T outstanding, it is 4.9% below the record high in July '08. After a flat reading in Aug, (didn't fall b/c of the CARS program), non revolving debt outstanding fell by $4.9B. Revolving (mostly credit cards) balances outstanding fell by $9.9B. To fully put into perspective today's data, look at the current level of consumer credit (doesn't include mortgages, the biggest chunk of consumer credit) relative to GDP. As of Q3, it totaled 17.2%...
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November 15th, 2008 at 11:42 am
Bazza, all your shirts are terrible… (kidding, just kidding…)
November 15th, 2008 at 11:54 am
Well, certainly that one, with THAT coat, is a bad pairing.
I forgot I was filming that day, and its what was lying around the office . . .
November 15th, 2008 at 1:38 pm
I really like that guys film… I’ve been checking his site out recently, has some excellent trend following stuff going on, which is something I’m into in my own trading quite a bit. The film clips are entertaining too. Havent read the books yet but will do so after I get through the twenty other books I seem to be reading at the moment.
November 15th, 2008 at 3:51 pm
I’m not sure I got much out of trend following, it seemed like a little too much fluff and zen like quotes. I’d support the outfit if that jacket was corduroy but the blip is too quick to tell.
November 15th, 2008 at 4:59 pm
And what would Michael Covel say is the current “trend” (that should be followed) in the SPX…?