It was psychologically painful in 1999 to give up making money on the way up and to expose yourself to the career risk that comes with looking like an old fuddy duddy. Similarly today, it is both painful and career…
Everyone knows today was a countertrend rally. Just a bear market rally. Everyone knows we’re going to revisit these lows. Everyone knows we’re going lower….. From CNBC to news websites and blogs, the consensus is that today was just another bear market…
Being short right now just feels like the wrong strategy. – Bill Fleckenstein, who shut his short only hedge fund in December I would be very cautious about being short this market right now. – Dan Veru, Chief Investment Officer,…
All week everybody’s been anticipating this morning’s Jobs Report. After ADP’s report on Wednesday, many were worried that it would be worse than expectations and truly dire. Instead, the 524,000 jobs lost in December are right in line with expectations….
It’s not wishful thinking (or the emotional exhaustion talking), but 2009 is apt to be a calmer year that will reward stock-picking. The notion may seem delusional following a market collapse that spared virtually no asset class (except Treasuries) and…
Bill Fleckenstein, Money Central contributor, frequent CNBC guest, author of Greenspan’s Bubble’s (2008), and manager for the last 12 years of a short only hedge fund, Fleckenstein Capital, has decided to close up shop. Among the reasons given in a…
Do not take this as any kind of prediction about what the stock market is going to do in the weeks to come. But last week there were some signs that investors are finally coming to terms with the true…
This is almost indescribably terrible – Ian Shepherdson, High Frequency Economics Quite simply, there was nothing good in this report – David Greenlaw, Morgan Stanley The November decline stands as the largest single month drop since December 1974 – David…
As expected, November retail sales were just terrible. Here are same store sales* for some retailers: Kohl’s: -17.5% Macy’s: -13.3% JC Penney: -11.9% Neiman Marcus: -11.9% Target: -10.4% Gap: -10.0% Saks: -5.2% Costco U.S.: -2.0% Walmart U.S.: +3.0% * Last…
One of the things about Wall Street is that it is incredibly short term focused. Investors, including (especially?!) professionals, tend to care about the here and now and possibly a year out. If you do this, you might think that…