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Mama said there’d be days like these…though you may have thought they were a thing of the past. With the DOW dropping 200 points on the day, and commodities down across the board, the “flight to safety” positions stood tall, just as they did during the darkest days of the Great Deleveraging of 2008. Yes, […]
Buy and hold. Stocks for the long run. Diversify. These investment mantras were gospel during the great bull market of the 80s and 90s. Drinking this Kool-Aid will get you slaughtered today. There is no freaking way I would “buy and hold” anything right now. Too dangerous. Buy and hold hasn’t worked over the past […]
Nice scoop on the Australian dollar from our favorite currency analyst, Everbank’s Chuck Butler: And under the heading of “dirty float”… The Reserve Bank of Australia (RBA) is reported to have sold the most A$’s in the month of May, since February 2004! Now, go back to May and recall the move in A$’s… The […]
The LA Times reports that corn supplies are tightening, with supply/demand projected to be “upside down” this year: This year’s harvest is expected to yield 11.9 billion bushels, down 155 million from last month’s projection. The decline is due to soggy weather in such corn-producing states as Illinois, where farmers have delayed planting. Total use […]
Last week, Marc Faber wrote an article for The Daily Reckoning, where he critiqued America’s economic policy…you can likely guess the general tone of it. I always find his commentary extremely insightful. You’ve probably noticed that Faber is one of my favorite gurus. I’m almost finished reading Tomorrow’s Gold, which he wrote back in 2002…it’s […]
The folks at Elliott Wave International informed me that they’re offering up a free 10-page report forecasting the Asian-Pacific financial markets for free. You can request the report here. They’ll request a sign up for their free club before downloading the report…which you’ve probably noticed is usually par for the course from financial publishers. I […]
Apparently, most of China’s recent purchases on the commodity markets have been to build up stockpiles, rather than satisfy actual demand – according to The Daily Crux. That means the huge Chinese buying is unlikely to continue, and that in turn means commodity prices may be unable to sustain their recent advance. As for the […]
It’s ironic that folks who identify themselves as free market proponents lament Obama’s plans for socialized healthcare in America. We already have socialized healthcare in the US. There is very little that’s laissez faire about the American healthcare system. The entire market is strangled by red tape, bureaucracy, and stupid rules. Result: the least efficient […]
Investment manias share some key traits in common. When they get going, they REALLY get going (a la NASDAQ 1999). People believe that “this time it’s different” (housing bubble anyone?). And – they are certainly equal opportunity. From tulips, to spices…from houses, to tech stocks…manias are always looking for the next asset class to party […]
Surprisingly, Treasuries have been rallying in the middle of each month, while falling at the beginning and end of the month, according to some keen observations by Tom Dyson. Why so? Tom says that for some reason, the market does not seem to be accounting for the fact that the government is issuing huge amounts […]
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