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.................................... Caroline Baum writes sensibly about the US current-account deficit, the foolishness of scapegoating the Chinese, dollar depreciation, and federal budget deficits:
"For the past four or five years, economists have been warning that the U.S. current-account deficit is 'unsustainable.'
How can something so unsustainable be sustained for so long? Unsustainable often sounds like eco-speak for, 'Boy, did I miss that forecast by a mile.'"
.......... Unusual Suspects, end of day, Friday, September 26 (Rosh Hashana begins this evening, which explains the lack of market activity, in case you were wondering why the list is so short.)
.......... Abnormal Characters (quotesheet), end of day, Friday, September 26
.......... Abnormal Characters, end of day, Friday, September 26
.......... Whammy reversals like this one in gold yesterday prove why protective stop loss orders are so important. (In fact, traders who were on the ball would've raised their stop loss order to breakeven after the 10:30 up bar formed.)
.......... Textbook test of top reversals in the stock indexes.
.......... Franco Modigliani died yesterday. Fellow business school graduates will always remember him for M&M I: in a world with no taxes or transaction costs, there is no unique capital structure which maximizes firm value; and M&M II: in a world with no taxes or transaction costs, increasing leverage raises the required rate of return on equity by raising the risk of equity, i.e. the cost of equity is a linear function of the firm's debt/equity ratio. Actually I only vaguely recall those two propositions, but I distinctly remember that Franco's textbook cost $120. ;-) Previous Entry >>> Random Thoughts -- September 25 |
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Chairman MaoXian |
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