Back in the Saddle
I have some interesting items to discuss over the coming days — a good conference should generate ideas and feedback and stimulate the mind — and the Agora conference did just that.
I will get to those existing home sales data — no, they were not good month over month, and they were not up 3%. We’ll look at Investor overconfidence; I will also discuss the long lag between reality and its manifestation in the markets, the disconnect and variant perspective. Lastly, the debate between CNBC pundits Dennis Kneale and Charlie Gasparino versus the blogging wolrd will get some pixels.
I am back at my desk today for the next 2 weeks, then its on to Maine (for fishing) and Vail (yet another conference).
Oh, and this next weekend, I expect there will be some Bailout Nation buzz . . .
July 24th, 2009 at 10:46 am
I will also discuss the long lag between reality and its manifestation in the markets..
What is up with that anyway…? I suppose the universe is full of homeostasis…perhaps that’s just the market’s way of participating. Will look forward to hearing much more about this.
July 24th, 2009 at 10:49 am
Reverberating thoughts: it may largely be a scaling issue in the fractal geometry sense of the word. Were it up to any one person, things would move rather quickly, but with masses of people involved, price change requires collective mindset change…and that clearly takes time, and clearly has more than a bit of irrationality involved.
July 24th, 2009 at 10:57 am
Where in Maine are you headed? My family used to head up to a cabin in Waterville, Maine, every Summer. It was incredibly Relaxing.
July 24th, 2009 at 11:18 am
Barry hobnobs with the other humble fisher folk gathered together (formerly) at Weatherby’s lodge on Grand Lake Stream by David Kotok of Cumberland Advisors.
(Rich clients to help out Maine fishing guide
The case of a single 11-inch smallmouth bass has reverberated far beyond a Maine lake and the fishing lodges of Maine’s Grand Lake Stream, echoing through the courts to the canyons of Wall Street.
It involves an undercover sting operation aimed at a popular fishing guide with an unblemished record, New York area investment advisers who combine wine tastings with fishing vacations, and allegations of abuse of power by the Maine Warden Service
It all started last year, when the new owner of the venerable Weatherby’s lodge on Grand Lake Stream decided to get a liquor license. As a result, the lodge told investment adviser David Kotok that he and his fishing buddies would no longer be permitted to bring their own wines on their visits, so the group took their business and libations elsewhere
http://sports.espn.go.com/outdoors/fishing/news/story?id=2156906)
Barry – you guys must bring some pretty nice vintages with you, eh?
~~~
BR: Its a good group, and that story is typical
As to vino — I prefer to go local, using a Long Island North Fork vineyard — I ship a case of Duck Walk Pinot Grigio — quite delicious, reasonably priced.
Crisp, with lots of fruit, its a great summer wine. Unpaid endoresement: I highly recommend it
July 25th, 2009 at 10:54 am
as an aside–
re: Wine
How many, different, Academic Disciplines, do you reckon, are corked up in a single bottle?
Meteorology + Wine, is one, though, hardly, alone..
July 25th, 2009 at 10:34 pm
I don’t know if you’re still tracking FDIC bank closures but they just closed 7 more, 6 in Georgia – to include mine! Total YTD is now 64.
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BR: Mentioned Friday night
http://www.ritholtz.com/blog/2009/07/six-georgia-banks-fail-bringing-2009-us-tally-to-64/
July 25th, 2009 at 10:34 pm
I’m dying to read “Bailout Nation”, however, need to finish re-read of Sun Tzu’s “Art of War” 4th time, then Naifeh/Smith’s “Jackson Pollock”. I can’t wait perhaps I’ll start it this Black Monday.
Best regards,
Econolicious
July 26th, 2009 at 12:53 am
That’s a tough schedule, Barry. Ever get to Saratoga? Me and the wife will be making our first trip in August. She’s a rabid horse racing fan whereas I can take it or leave it. Don’t like the odds for parimutuel wagering, generally speaking. Seems like for every winner there’s two losers…
Make you a deal – I’ll buy a copy of Bailout Nation if you’ll sign it for me. I want to be able to tell everyone, alas, I knew him when he was little more than a humble blogger who dug Steely Dan…
~~~
BR: Done.
July 26th, 2009 at 8:40 am
On the way back from our Honeymoon in Quebec and Montreal — we drove to Canada, had a great adventure, and returned a route that took us to Saratoga, where we stayed at a B& — it was terrific.
Originally, it was supposed to be Italy, but it was int he midst of the last dollar collapse 17 years ago, and we were pretty broke.
I hear SPAC is outstanding
July 26th, 2009 at 9:08 am
BR,
from the thread::
re: Jackson (yours), has anybody called him/inquired after “Stonewall”, yet?
~~
and, as as rec., have you batched up your “Intro Rules for Investors”–that you did awhile back.
that’d make for a great permanent link. as you know, new readers find TBP on an ongoing basis..