Well, our fearless leader was at it again this morning:
I’ve been online for over a third of a century, starting with a 300 baud modem and a BBS. During the latter portion of that timespan, the age of the Internet, I’ve been exposed to countless thousands of ads, increasingly customized to my habits, purchases, search engine requests, and whatever else can be ascertained about me by my online activity.
Starting a couple of years ago, I started noticing something odd about the web sites I visited. And here she is:
Late in 2016, there was this widely-disseminated canard that proposed the “deep state” arranged Trump to get elected so that the economic collapse could be blamed on him. Although I’m not a conspiracy kook, in a fever of confirmation bias, I sort of “bought” that claim as well. Let’s see how the Deep State is doing, shall we? Here’s the Dow Industrials..….
I guess I’m past the point of pretending there’s a decent bone left in my body. Whenever I see news of another nuclear bomb test or missile launch, I stand on my chair and cheer. Anything – ANYTHING – to get this market to fall. So long as it doesn’t hit Palo Alto.
Now that I’ve finished being charming, I’ll mention the obvious, which is that, as of this moment, the ES and NQ are weaker and gold is stronger thanks to Kim returning to his shenanigans. Until this chubby, hairless blob of a man-child actually starts blowing things up besides fish in the Pacific, this dips are going to get tinier and tinier.
Hopefully Trump’s chiding and poking will push him over the edge. Of course, Trump has a HUGE incentive to send Kim into a frenzy, since that would be the perfect, made-to-order distraction from anything pesky Mueller might serve up.
Over the past month, there’s a boring, tedious pattern that seems to be repeating itself:
(1) The impoverished, backwards, freakish hermitage known as North Korea threatens the world with some ill-conceived rumblings about a nuclear weapon;
(2) Worldwide markets (with ever-decreasing size) have a knee-jerk reaction;
(3) When it’s clear that Kim Jung Un is completely full of crap, for the 398th time, things go back to normal within a few days (or hours……) and the market goes to new lifetime highs.
We’ve got round three of this going right now on this holiday weekend……. (more…)
Is There Alpha In Gender Disparities?
The conventional wisdom for years, as this Harvard Business Review post exemplifies, has been that having more women as senior executives and directors would improve corporate performance. It appears that this may be untrue. I elaborate below, and discuss whether awareness of this may be a potential source of alpha. (more…)