It Was Maven Heaven
In his Wednesday edition of Cashin’s Comments, Art wrote the following:
Marinating With The Mavens – Last night, we had drinks and dinner and drinks with several Wall Street legends and luminaries. Among those present were David Rosenberg, Walter Murphy, Ray DeVoe and Richard Yamarone along with a few more friends and co-workers who shall remain nameless to protect the innocent.
Given the list above, you might guess that the majority of players leaned to the skeptical on the recovery and, in some cases, the rally. While that was so, opinions varied widely on a variety of topics like a possible bond bubble, the fate of the Euro, taxation burdens and government activism in the marketplace. Over the next few days, I’ll try to decipher my notes (wet napkins don’t you know). If successful, we’ll run through some of the topics. It was a great deal of fun.
As one of “the innocent,” I was both flattered and humbled to have sat with this small group of mavens, all of whom have forgotten more about the markets than I could ever hope to know. I only wish I’d stayed longer than I did and not departed prematurely.
Walter Murphy toiled alongside the legendary Bob Farrell for many, many years (I’m inclined to say 25). He now runs his own shop, Walter Murphy Global Advisors, LLC. Walter’s work is well worth checking out and, if you’re so inclined, subscribing to.
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March 25th, 2010 at 11:00 am
I wonder whether the collective group of dining mavens would say they’ve cut back on their dinners out, etc.? I’m sure the service staff at the restaurant was happy to have their business.
March 25th, 2010 at 11:33 am
Obama will easily get reelected because the market is going up every every every day..There is no bear case. every day up up
March 25th, 2010 at 11:39 am
Nobody there- like an under the wing guy- specifically to take notes of the proceedings?!? I’m as shady as the next guy, but what’s the problem? Sounds like most of you are too old (fat?) to get into anything you wouldn’t want repeated…and a kid would’ve gotten to eat.
I use clothespins to dry out napkins, btw.
March 25th, 2010 at 12:37 pm
Somebody somewhere promised me another bubble.
Is this it?
If so I am ready.
March 25th, 2010 at 12:45 pm
How can I subscribe to Cashin’s Comments?
March 25th, 2010 at 1:07 pm
Going over to the Dark Side – Buying Stocks
A friend quoted my own words back to me when the SPX made a new high. Most have heard “Never catch a falling knife” my version from 2002, repeated in 2008: “never catch a falling safe”. Picture the idiot on the 8th floor trying to catch a 5,000 pound safe thrown off the 25th floor roof.
IMHO this market is falling up! Makes new highs, takes out resistance, no public participation, no good news. I feel like I am in Alice in Wonderland upside down on the ceiling and trying to catch a falling safe.
Just wanted to let all the bears here know that it is probably a safe entry point for a quick short. I am feeling the pressure to get in and am throwing in the towel. Not able to get all the way in, but, I will get to 70% – 80% invested from 50% now.
March 25th, 2010 at 1:10 pm
My prior post is on topic with the Mavens discussion. I followed the link to this comment from Walter Murphy:
The Towel is Still on the Shelf
By Walter Murphy on 3/17/2010 7:06 AM
In yesterday’s Breakfast with Dave, noted economist (and friend) David Rosenberg stated that we looked to be “throwing in the towel, acknowledging recently that the technical picture has improved and this is key for a market more driven by technicals than fundamentals, valuation, or fund flows.” Our guess is that if Dave feels that way, so do others. So let’s make one thing clear: the towel is still on the shelf. We still regard the 2009-2010 uptrend as a bear market rally. That said, several observations are warranted.
March 25th, 2010 at 8:41 pm
Always appreciate Art Cashin…he’s one of the “Elders” that’s always worth a listen to.
Thanks for posting on this. I’ve always wanted to be in a bar with Art…and listen to what he has to say…it’s good you are relating “your opportunity” to us here. And, yes…I do know who Art works for (in case there are some trolls here) but his “pearls of wisdom” never cease to inform.
“Marinating his Ice Cubes over the Weekend” is my favorite of his as he dispenses “Pithyness.”
YEAH!