(Self-Interested Preface: if you cashed in today, thanks partly to Slope, feel free to kick me a few bucks. I hardly ever mention this, but for those of who don’t want to subscribe to Slope+, you might want to put something in the proverbial tip jar every blue moon. Now is your chance! Here’s the link.)
As I promised, I wanted to do a post that had nothing to do with Greece or charts, just for a change of pace. Because I don’t know about you, but after the past 72 hours, I’m exhausted!
One of my favorite “fun” books is a 1995 offering called Hey Skinny!, which is a collection of full-page color ads that were published in comic books in the 1940s and 1950s. I’ve thumbed through the book many times, but it dawned on me that even though we live in an age where a product released a month ago is “ancient history”, these artifacts from six decades ago still speak to the same immutable human desires (which are basically to acquire resources and protect them). There are analogs for just about every product in this thin volume.
I wanted to share with you something I watched by accident that I really enjoyed: it’s the Actors Studio with Jerry Lewis. Now, let me be clear: I hardly know anything about Jerry Lewis. I’ve never watched any of his movies. I vaguely remember the (boring) Telethons from when I was a kid. Jerry was before my time.
All the same, this interview is fascinating, and it gives you a passing knowledge about someone who was an absolute colossus in the entertainment world in the middle of the 20th century. There’s even a stock trading story in here! Check it out:
Grant Williams, who is an extraordinary writer, blogger, and thinker, was kind enough to invite me to coffee when he was visiting Palo Alto a few months ago. He told me about a new venture he was launching called Real Vision TV, which is now live and you can visit by clicking here. My shorthand way of describing it would be “ZeroHedge, televised”, but probably with a good dose less tin-foil-hat and lunatic comments. It’s unique, thought-provoking, and gaining a lot of momentum (plus, I’m honored that they wanted my own contributions with some charting videos). Be sure to check it out; it’s one of the coolest things to happen in finance media in ages……..(and they got a lot of attention with their recent Albert Edwards interview):
In case any of you weren’t aware, I’ve got a regular 15 minute segment on Tastytrade each day, right after the closing bell (the show, appropriately, is called After the Bell). The URL is here, and they keep archives of past shows in case you want to throw rotten vegetables at the screen.
There are a couple of publications I have read on a daily basis for many years, and with each passing day, they both annoy me more: one of them is ZH, and the other is, as I like to say, from “our friends in Gainesville.”
Regarding the latter, I don’t know why I bother. Back during the financial crisis, which I think was about four or five hundred years ago, I was convinced that Elliott Wave truly was the key to the universe. How shall I put this? I, umm, don’t think so anymore. I’d go so far as to say that, in my opinion, Elliott Wave offers not only zero predictive value but can be so profoundly misleading as to be harmful. Yet I still read the stuff, although with rapidly diminishing interest.
Trying not to pre-judge the title as flat out stupid, let’s proceed to the article…
Where to park your money until the next crisis blows over
Greece is on the edge of a dramatic exit from the euro EURUSD, -0.09% . The Russians are meddling in the Ukraine again. The oil price CLH5, -0.46% has been hammered, creating an arc of instability across the Middle East. The global economy is, as is so often the case, poised on the edge of another crisis. If it happens, money will start fleeing to safe havens, somewhere where it can be safely parked to ride out the turmoil.