The following is a definition of “STOCK MARKET” as provided by Investopedia.com:
“The market in which shares of publicly-held companies are issued and traded either through exchanges or over-the-counter markets. Also known as the equity market, the stock market is one of the most vital components of a free-market economy, as it provides companies with access to capital in exchange for giving investors a slice of ownership in the company. The stock market makes it possible to grow small initial sums of money into large ones, and to become wealthy without taking the risk of starting a business or making the sacrifices that often accompany a high-paying career.”
I would suggest that, since various world Central Banks (A.K.A. financial policy-makers) have been busy buying into a variety of world markets since the bottom of the 2008/09 financial crisis, these former stock markets are no longer a “component of a free-market economy.” The Bank of Japan is but one example of this practice, as evidenced in their most recent policy statement issued on October 31st. Therefore, the markets that you have been (and are still) trading do not fall under the definition of a STOCK MARKET. Rather, they are entities totally under the control of Central Banks and no longer exist as stock markets.
A handwritten letter arrived in my mailbox last week from a reader. In it was a note from whom I would guess is an elderly gentleman, thanking me for my work both on Slope and on Tastytrade, but politely asking me to use the phrase “God damn it” less frequently, since he found it upsetting.
The handwriting on the paper trembled like leaves in an autumn breeze, and it was obvious it took time and effort to send me this two-page missive. It meant something to him.
It never occurred to me that I ever used this phrase in a video, let alone often enough to cause concern. All the same, the letter, as with the many other letters I have received over the years, made an impression. For one thing, it made me wonder how angry I must be in order for this kind of sentiment to seep through, since I wasn’t even aware I was saying it.
Which leads me to the topic at hand. Specifically, a man. A terribly deformed man whom I think about almost daily. For now, I’ll call him Sup. (more…)
I did a post less than a month ago called Won’t You Be My Neighbor? which vividly captured a crumbling rustbucket of a “house” that was being offered for $1.8 million. The house is located on a very busy boulevard (in spite of the “very desirable area” mentioned below), and I’ve been keeping an eye on it for a “Sold” sign ever since. The absence of such a sign made me think, well, people have finally come to their senses. No one is buying this dump.
Of course, this isn’t the case………I present to you this news from this morning’s paper:
I first laid hands on a personal computer in 1979, and I’ve been online since 1981. Technology has saturated my life long before most people had even considered it. I bought my first Macintosh in early 1984, the iPhone on the day it came out, the iPad on the day it came out. I live in the Silicon Valley, and they’ll probably bury me here.
Having said all that, I have poo-poo’d Yahoo right from the get-go. I’ve always thought it was a junk site, and I’ve been utterly bewildered by its skyrocketing stock price. I had some vague knowledge that they had a portion of Alibaba, and because of that, it was goosing its stock price – – but if you had asked me, I’d have guessed that it wasn’t that big a portion of Yahoo’s value. Ummm……..wrong. (more…)
It’s really hard to tell the difference when one looks at the markets today to see any real difference from that of the floor of any casino.
For all intents and purposes financial shows seem to be more concerned with showing great legs on-screen as much as some sports broadcasts are pushing to have their female equivalent commentating from the side lines. What’s next – a cheer-leading squad of scantily dressed talking heads waving pom-poms every-time the camera pans? Sorry, I forgot…That’s CNBC™.
I find it almost uncanny in just how the once bastions of free market capitalism are morphing into both the look and feel of today’s casino. If you look at the myriad of assorted slot machines on a casino floor one can’t help but notice that all the lights and sounds with their inner entangled games within games seem to have all the color pallets and changing graphics of most trading screens. (more…)
My dawgs woke me up way, way too early (we’re talking 4:30) so here I am with two quick items just to get the day rolling.
First, the jobs report is out, and the market doesn’t quite seem to know what to do with it. On the one hand, the headline rate is down to 5.8%, but on the other, the number of jobs added was well below expectations. At first, the US dollar got really weak, but as I’m typing this, it’s rebounding. The ES and NQ are pretty much where they were late last night – – – so at this point, there’s no obvious direction for the day.
Second, I was intrigued to see the story over on ZH about happiness across the country. I was particularly interested since my home state of Louisiana appears to be the happiest place on Earth (Disneyland notwithstanding). I feel an odd sense of pride that my cajun cousins are more content with their lives than the gazillionaires which surround me here in the Silicon Valley.
The more thing change, the more things stay the same is the line we’ve all heard thousands of times. The problem is that sometimes we really need to remember the reasons why we’ve heard it so much.
More often than not it’s because – it’s true. And it happens far more often but exactly; how it happens, is where many fail to see the bigger picture behind the snapshot of the time.
Today I would like to draw your attention to someone as well as something that has implications far more broad and far more sweeping than what anyone now even considers, let alone “thinks.”
Today it was announced via many media channels that Taylor Swift pulled her entire catalog off of the streaming music titan Spotify™. Whether you like her, don’t know her music, (she’s today 25-year-old pop sensation) or anything else about her, what you can not do – is not pay attention to this action by her in the bigger picture if: you consider yourself a serious entrepreneur. (more…)