Posts filed under “Really, really bad calls”
Each year, I do my best to avoid writing anything new about September 11th.
Instead, I will just point you to my experiences that day (which I wrote up the evening of 9/11). I was the Market Strategist for a firm headquartered at 2 WTC, offices on the 29th floor. I was fortunate to be in the LI office as events unfolded, and I managed to get my head trader on the phone. Bill gave me a full running narration of what was occurring in real time, until the towers went down and broke our phone connection. (Everyone in our office survived). I put all of what he said down on paper, and published it the next day at the now defunct Geocities (I saved a copy before that site disappeared).
A Personal Recollection From a Day of Horror (September 12th, 2001).
I have nothing else to add . . .
In a move that can only mean a presidential election campaign is upon us, the Justice Department said it is finally going to pursue individual white-collar criminals. As the New York Times reported, the Justice Department “issued new policies on Wednesday that prioritize the prosecution of individual employees – not just their companies – and put pressure on corporations to…Read More
At the risk of overstating the obvious, there are important differences between traders and investors. Their timelines differ, as do their goals, preferred assets and methods. Yet some of what I have been hearing from members of each group suggests they themselves can sometimes become confused about these dissimilarities. Blame the recent market volatility for…Read More
To save myself from answering this question repeatedly, these are the thoughts I have had about Trump since he became a presidential candidate, which were partly expressed in a Politico article over a month ago. First of all, I think his support is firm and shows no sign of diminishing. He has already weathered storms…Read More
My Sunday Washington Post Business Section column is out. This morning, we follow up a June column that advised taking advantage of markets at all time highs to clean up your portfolios. This time out, we look at the market turmoil as a reminder, and the snapback rally as an opportunity. The print version…Read More
FFF: Hurricane Katrina 10th Anniversary: Aug. 29, 2015 CENSUS, July 29, 2015 Release Number: CB15-FF.16 JULY 29, 2015 — Hurricane Katrina is the costliest U.S. hurricane on record, and the deadliest to strike our nation since 1928. After initially making U.S. landfall on Aug. 25, 2005, in South Florida as a Category 1, it moved into…Read More
@TBPInvictus here. [File under: Petard, hoist on one's own] Earlier this month, AEI “scholar” Mark Perry was spotted using a dubious metric regarding minimum wage. Given the point his ideology was trying (apparently desperately) to prove, Perry proclaimed Seattle’s newly-hiked minimum wage a failure: As evidence to support his claim, Perry showed the following chart:…Read More
I am reminded how utterly worthless as a market observer/financial adviser Suze Orman is in this series of tweets. Its simply amazing how much terrible advice and lack of comprehension people can reveal in a mere 140 characters. “Demands for low rates begin as the financial class panics” Hat tip: Vulgar Trader
Every now and then a remarkably bad idea springs to life. It gets debated, ridiculed and eventually discarded. In the marketplace of ideas, free and open debate help to determine which ideas are useful and which wind up in the rubbish heap. (John Stuart Mill was onto something). We tolerate reprehensible ideas because, ultimately, free…Read More