It happened in September 2011, again in April 2012, and now its starting again. Despite the launch tomorrow of Apple’s iPhone 5 (rumored to include the happy-ending-hand-extension), AAPL has notably underperformed in the last few days. Whether this is to do with the 20%-plus weighting in the NASDAQ-100 or whether, as we show below, the market’s wise-men see AAPL’s P/E ratio approaching that of the exuberant market and capping their attention, we do [...]
It has been a week since the massacre in Aurora, Colorado. The two major U.S. presidential candidates spent the past week avoiding the subject of whether anything should be done to prevent such shootings from recurring.
Mitt Romney, the presumptive Republican nominee, declared Wednesday that “changing the heart of the American people” is our best hope to stop the carnage. President Barack Obamaoffered little more than support for his past positions, such as [...]
Only the protest call of 160 economists against the decisions of the recent EU summit , the sharp criticism of other economists and politicians to this criticism, and now the economic wise men: the summit € crisis decisions remain subject for discussion.
Euro doomed from start, says Jacques Delors
The euro project was flawed from the start and the current generation of European leaders has failed to address its fundamental problems, Jacques Delors, the architect of the single [...]
The Bradley Effect came to life during an election for the mayor of LA in the early 1980s. Tom Bradley was the mayor and he was black. When up for re-election he was way ahead in the polls but lost. The conclusion many came to was that when people were asked by those conducting the various polls who they were going to vote for, they were reluctant to say they [...]
From Richard Russell via LewRockwell.com:
It’s difficult to make people believe that there’s a difference between an investment for a possible profit and a store of wealth. But rich people know the difference. When a man has made as much money as he can, he starts worrying about losing that money. That’s the time when he wants to own “eternal stores of wealth.”
Yesterday “The Scream,” a painting by Munch, sold at [...]
Things sure have changed in the past 30 years…
Abridged transcript (full version can be found here):
At Christmas time, every home takes on a special beauty, a special warmth, and that’s certainly true of the White House, where so many famous Americans have spent their Christmases over the years. This fine old home, the people’s house, has seen so much, been so much a part of all our lives and history. [...]
Barton Biggs of Traxis Partners spoke to Bloomberg Television’s Betty Liu this morning about his investment strategy.
Biggs said he’s now “80% net long” on stocks and that the U.S. market rally is “going to continue for awhile.” Biggs also said that he’s “intrigued” by European stocks, but he isn’t buying them.
Biggs on his position in the markets:
“I have drifted a little bit higher. I am more about 80% net long…I [...]
Now that President Obama’s political collapse has reached the Jimmy Carter zone, Mickey Kaus asks: Do the Truman analogies come before or after the Call for the Wise Men?
We have two relatively recent examples: Presidents George H.W. Bush and Bill Clinton.
In Bush’s case, the Truman analogies preceded the Call for the Wise Men–new experts who can fix the administration’s problems. (For Bush, this call never really went [...]