Monday, November 17
Rodney Crowell has a nice biography page at his website (he doesn't mention his marriage to Rosanne Cash).
For those who ask,
who's Rodney Crowell? read this.
Posted at 11:25 PM, GMT
Roundup of the guys I read regularly in Forbes. (I certainly never read nitwits like Baldwin, Forbes, Hanke, Karlgaard, or Weinberger.)
"Serious protectionism could turn the good deflation of excess supply I've been forecasting into the bad deflation of deficient demand.
Let's hope that policymakers recall what protectionism and deflation did to the world economy in the 1930s ... Regardless of
intentions, it's ultimately the enemy of jobs, the economy, profits and stocks."
Posted at 11:03 PM, GMT
Rob Kinsey notes that 45% of all emerging market sovereign debt
is now rated at "upper investment grade."
Posted at 8:51 PM, GMT
Stephen Roach reports from Lyford Cay something that
should cheer dollar bulls and strike fear into the hearts of gold bulls:
"Byron Wien made an impassioned presentation of the bull case for the US currency, but there were no takers ...
there was considerable interest in gold -- more so than I have seen at any year in this conference."
Posted at 8:32 PM, GMT
Bryan Castleberry of Cybertrader put up a slideshow called Profit Taking Strategies for Traders that you might want to check out.
Here's the chat transcript from Elite Trader that accompanies the slides.
Posted at 8:15 PM, GMT
Kristin Kreuk looking glamorously languid.
Posted at 6:02 PM, GMT
Michael Lewis tells the truth about mutual fund managers:
"... the real problem with mutual-fund managers isn't their dishonesty. It's their incompetence ... The millions of dollars that
mutual funds have, in effect, stolen from their small customers are dwarfed by the billions they have wasted for them ... There is
no need to enter into an argument about market efficiency to win an argument about the idiocy of investing in mutual funds.
No matter how you slice the numbers, you wind up with the same conclusion: the mutual-fund industry has been lucrative mainly
for the people who work for mutual funds. "
Posted at 5:45 PM, GMT
More great trading advice from Linda Bradford Raschke:
"You have put behind you what happened yesterday. If it was a good day, forget about it. If it was a bad day, forget about it."
"Understand it probably takes two or three years before you can figure out what you're doing, get a comfort and confidence level,
and have familiarity with the markets. You have to have some patience."
"A lot of people try to out-think the market. They try and intellectualize and try to get too smart. They try to figure out all these
scenarios. You shouldn't think too much during the trading day. You should just watch and see what the market is doing. Don't try
to outsmart the market -- or that is going to backfire on you. Keep it real simple."
"I'm not interested in where it's going to be tomorrow or a week from now. Don't ever get into trying to determine valuation levels.
That's a trap. To me, current price is everything. I'm more interested in which direction the impulse is moving. Which direction is the
market moving with the greatest momentum. I'd rather see it tip its hand and see it break, then jump on board on the first little
pause, as opposed to picking exactly where it's going to turn."
Posted at 7:29 AM, GMT
Getting things ready for Dubya's arrival.
Posted at 7:13 AM, GMT
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