Posts filed under “Markets”

Frustrating the Majority

Jeff Saut dug into the archives for this one on Monday:

“Money managers are unhappy because 70% of them are lagging the S&P 500 and see the end of another quarter approaching. Economists are unhappy because they do not know what to believe: this month’s forecast of a strong economy or last month’s forecast of a weak economy. Technicians are unhappy because the market refuses to correct and gets more and more extended. Foreigners are unhappy because due to their underinvested status in the U.S., they have missed the biggest double-play (a big currency move plus a big stock market move) in decades. The public is unhappy because they just plain missed out on the party after being scared into cash after the crash. It almost seems ungrateful for so many to be unhappy about a market that has done so well. … Unhappy people would prefer the market to correct to allow them to buy and feel happy, which is just the reason for a further rise. Frustrating the majority is the market’s primary goal.”

-Bob Farrell, Merrill Lynch (9/5/1989)

Great stuff!

 

Previously:
Bob Farrell’s 10 Rules for Investing  (August 17th, 2008)

Lessons from Merrill Lynch  (January 10th, 2010)

Category: Investing, Markets, Psychology

Kiron Sarkar’s Weekly Report for 6.21.14

Over the last few months, US data suggests that inflationary pressures have been building up. May CPI rose to +2.1% Y/Y, with the core rate at 2.0%. However, the FED does not believe that inflation will pose a problem. Whilst being more upbeat on the economy, it forecast that core PCE (its preferred inflation measure)…Read More

Category: Markets, Think Tank

Succinct Summation of Events Week Ending 6.20.14

Succinct Summations week ending June 20th Positives: 1. The Nasdaq and S&P 500 both made new 52-week highs. 2. AAII bullish sentiment weekly decline was the largest drop since January. 3. Homebuilder sentiment climbed from 45 to 49 vs 47 expected. 4. Philly Fed came in higher than expected for the 4th straight month. 5….Read More

Category: Markets

How Bee Hives Are Like Stock Markets

Category: Markets, Video

MTA Presentation: Risk, Trading & Neurofinance

Click through for the free registration:   MTA New York Chapter Meeting June 23, 2014 Featuring Barry Ritholtz presented by Bloomberg L.P. The New York Chapter of the MTA invites you to our next chapter meeting on Monday, June 23, 2014. We are honored to have Barry Ritholtz, founder and chief investment officer of Ritholtz…Read More

Category: Markets, Psychology

Kiron Sarkar’s Weekly Update 6.14.14

Whilst May retail sales came in lower than expected (though April’s numbers were revised higher), US economic data released during the week was positive. As the US economy improves and with the FED continuing to taper, the US$ is strengthening, in particular against the Euro, a trend I expect will continue. I also expect Sterling…Read More

Category: Markets, Think Tank

Explaining Iraq

Explaining Iraq We live in a star culture. But the “New York Times” did not get the memo, they let some of their biggest stars go, from Frank Rich to David Pogue to Nate Silver. Unfortunately, all three are languishing without the imprimatur and the distribution of the “Times,” but if you read the memo,…Read More

Category: Financial Press, Markets, Think Tank

Succinct Summation of Week Ending 6.13.14

Succinct Summations week ending June 13th Positives: 1. The S&P 500 and Dow Jones made all-time highs (again). 2. Import prices rose 0.1% m/o/m 3. NFIB small business optimism came in at 96.6 vs. 95.8 expected. 4. JOTS job openings = 4.45mm in April  (vs expectations of 4.05mm), up from 4.16mm in March, the most…Read More

Category: Markets

How Neurofinance Impacts Trading & Risk: Register Today!

Click through for the free registration:   MTA New York Chapter Meeting June 23, 2014 Featuring Barry Ritholtz presented by Bloomberg L.P. The New York Chapter of the MTA invites you to our next chapter meeting on Monday, June 23, 2014. We are honored to have Barry Ritholtz, founder and chief investment officer of Ritholtz…Read More

Category: Markets

Cutting Asparagus

Cutting Asparagus David Kotok June 12. 2014   Now what? Maybe it’s time to cut some of the asparagus? Stocks have reached levels that carry warning signs. They are at historical peaks relative to GDP, with the only exception being the tech bubble era. US stocks continue to rise even as inflows to mutual funds…Read More

Category: Markets, Think Tank