Financials Offset Energy Gains
The market was relatively flat today. The Dow closed down -44.13 points, off -0.3% while the S&P closed virtually unchanged at 1403.04. Pockets of strength continue to offset the decliners. This time, financials and healthcare dragged on advancing energy, materials, and industrials. So what caused...
What is Your Level of Conviction?
The level of bearishness in our stock market is still high. Folks have a tendency to extrapolate recent events into some sort of longer-term forecast. The downward spiral from October through the mid March period caused many investors to capitulate. Now their pride refuses to allow them the ability to...
A Black Swan Market
One of our subscribers recently asked our opinion on the market — where we thought it was heading. He’s been watching stocks for 50 years and commented he’d never seen an environment like this. I would agree. If it were that easy, everyone would be making money.Every market is different....
Let The Sun Shine In
Stocks tumbled on Wednesday, led by the financial services sector and even more specifically the brokerage stocks. Not coincidentally, the sell-off ensued as SEC Chairman Christopher Cox said his agency will soon require investment banks to publicly disclose their capital and liquidity levels. Mr. Cox...
Like Buffett, Like Son
Last weekend, Berkshire Hathaway held its annual shareholder’s meeting. A popular venue, some shareholders stand in line for hours to grab a seat close to the Oracle, hoping to capture wisdom emanating from his presence. Rubbing shoulders with Charlie Munger, Bill Gates, et al, is not something...
The Tide Is Turning
As widely expected, the Fed lowered rates by another quarter-point at yesterday’s meeting and hinted that its aggressive rate-cutting campaign is likely to pause soon. Traders were initially unimpressed, but after a night to sleep on it seem to have decided that this is, in fact, good news. Whether...
