Remember American International Group? They’re the good people that got massively rich, blew up, demanded almost $200 million in retention bonuses from taxpayers (and got them) and went on their merry way. They’ve been chugging along ever since the long-forgotten financial crisis, but it seems to me the ol’ chart is starting to break down.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Are The Bears About To Fumble?
Do you think we will ever see a week of market moves associated with news events for which you will not shake your head?
Week after week I think analysts say something so stupid that I just want to scream. As I have pointed out so many times over the years, I keep hoping that some form of sanity will grip pundits one day. I keep hoping that they may wake up and recognize the error of their ways. But, alas, I continue to long for that day.
So, whenever the market moves, everyone goes through the exact same thinking process: “Hey, look. The market just saw a big move. Let’s go see what news caused this move.”
Is this not the structure of almost all the analysis you see presented? Let’s look at this past week, for example. During the week, the futures took a strong downturn. And within hours, every analyst was certain that it was “caused” by Gary Cohn’s resignation.
So, let’s think about this. For how long has this resignation been telegraphed? I think we all knew it was coming. So, are you going to tell me that the market did not already have this “priced in?” You see, this is where this type of analysis gets really fuzzy.
Put On Ice
Remember that ridiculous story about the publicly-traded Long Island Iced Tea company that decided to “pivot” and focus on blockchain technology? Well, the pivot worked amazingly well – – for a little while. Let’s just say the stock has just about come full circle at this point.
Don’t Dream It’s Over
There is freedom within, there is freedom without
Try to catch the deluge in a paper cup
There’s a battle ahead, many battles are lost
But you’ll never see the end of the road
While you’re traveling with me……….
