Posts filed under “Really, really bad calls”
This is the time of year when Americans gather with family and friends to give thanks. A bounteous feast is the time to express gratitude for our good fortune. We count our blessings, humbled by the fortuity of our circumstances, grateful for whatever it is we have.
Once you get that over with, it’s time to go shopping.
At least, that seems to be the message of retailers, as they intrude further and further into the holidays. This year, a growing number of retailers are actually open on Thanksgiving Day, including Wal-Mart, Kmart, Sears, Target, Kohl’s, Staples and Macy’s. (A Facebook page has called for a boycott). Being open on Thanksgiving smacks of desperation, and you should do nothing to encourage the excesses of this antifamily, antifootball behavior.
It is all part of the plan. The manipulators at the National Retail Federation and elsewhere work hard to create a sense of consumer frenzy. Thus, I have dubbed the season between Thanksgiving and Dec. 25, “Shopmas.”
The quality of our discourse is decaying. This was once a standard complaint about the tone and depth of our national political debate. Now it has spilled into the financial realm. Shall we blame Twitter, trolls or bloggers? I am unsure of the underlying reason. But as we have seen far too, financial discussions seem…Read More
We have said a good deal in this space about the futility of trying to time short-term market moves (see e.g., this, this and this). No one has demonstrated the ability to do this consistently over time. While it is possible to avoid the very largest of collapses over long periods of time using a…Read More
Jim O’Shaugnessy took a closer look at what I am now dubbing the Tony Robbin’s Recent Weather portfolio. It is akin to taking an umbrella today because it rained yesterday. Jim is a quant extraordinaire, and his analysis confirms what I wrote earlier this morning: This is a biased sample, form fitted to have done…Read More
Tony Robbins is a self-help genius. He has sold millions of books that many people believe helped them realize their full potential. He understands the human psyche. As a motivational speaker, he knows what a person must do to overcome everyday struggles to “self-actualize,” and awaken the giant within. People love his seminars (although I…Read More
How much compensation the folks at Pacific Investment Management Co., better known as Pimco, haul in each year has always been a topic of fascination on Wall Street. In 2012, news reports suggested that the firm’s top 30 partners “pulled down an average $33 million a year in compensation in recent years.” A subsequent column…Read More
On this day in 1993, the Wall Street Journal published a survey of 10 market pundits. They had been asked when the bull market that started in 1982 would end. Most of the forecasters predicted a 10 percent market decline — hardly a bold position because 10 percent declines occur fairly often, about once a…Read More