Market professionals are finally showing their weariness, and admitting that they can’t figure out what’s happening in the stock markets anymore (Nov. 19)
11/19/2008
We all agree that pessimism is a mark of superior intellect. —John Kenneth Galbraith
Initial Jobless Claims totaled 614k, 1k less than expected but the prior month was revised up by 3k to 630k. Continuing Claims fell by 53k from last week and was 38k less than expected. There has been a big discussion of late over the expiration of unemployment insurance and how the recent drop in Continuing Claims is due to people losing it rather than finding a new job. While there is no question benefits are expiring without one finding a job, as evidenced by the rising exhaustion rate, many losing those benefits now started getting them when initial claims were...
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November 20th, 2008 at 6:30 am
Video doesn’t work for me in FF 3.0.4
November 20th, 2008 at 8:14 am
The more I hear that idea, first heard from Cramer, that 5-6-7% div. yld. on Equities is the place to sit, the more I think those issues are going to turn into the next IEDs for those ‘fund managers’/'di-vestors’..
It’s really sad, you couldn’t swing a dead cat on Wall St. and hit someone who’d be walking around w/o Life Insurance, or driving w/o Car Insurance, but ‘Insure’ their longs with Puts?? Ooo, That’s Risky..Enhance their returns with covered-call writes?? O, Hey, what are you, Einstein?
What’s worse are the many dealz they stuffed into pension and ‘money market’ funds, for that gross breach of Fiduciary Responsibility, they should consider themselves lucky to walk away, even if penniless..
Don’t me get wrong, I like a lot of those ‘guys’, many are tremendously talented, but many shouldn’t be near anyone’s “Money”, including their own..Maybe one day, they’ll figure out those figures..
November 20th, 2008 at 4:30 pm
As if they ever did understand the markets. IMO, most, like Cramer, succeeded by simply staying bullish in a 25 year long secular bull market. Buy the dips, buy and hold, 80 goes to 100 and 100 goes to 120, what else did you need to know to succeed in that environment?
Now that the secular bull is over they don’t understand the market anymore, ha! LOL!