More proof that the market's remarkable history of seasonality prevails globally in developed and emerging markets, with dramatic market-beating performance.
According to a news clip I just saw, there is a gas station in the Los Angeles area currently selling regular gasoline for $5.58/gallon. Some gas stations are shutting down because the owners don't want to buy gas at these prices for fear that they won't be able to sell it. Prices have been moving higher over the last few months, but the recent increases have fallen like a ton of bricks on consumers.
Stocks shot higher today at the open even though jobs related data was mixed. The averages topped after the first hour of trading and sold off for the rest of the day. The S&P 500 was virtually flat with the Dow closing up 0.3% at a five year high.
The establishment report of +114,000 jobs was pretty much about what most expected. The four-month average is a mere 120,000 a month (a very weak set of establishment numbers for this point in a recovery).
In a CNBC first, outspoken investors Marc Faber and Jimmy Rogers, both known for their generally pessimistic outlooks, have a spirited on-air conversation during CNBC.com's new online program "Futures Now."
‘Is it safe?’ This can be a torturing question, particularly if you don’t understand what it refers to, as was quite literally the case for Dustin Hoffman in the infamous dental scene from the 1976 film Marathon Man.
Fundamental analysis of "buy and hold" companies is a quaint, Warren Buffetish notion that probably works in the long term. But as Keynes said, in the long term we're all dead.
Overheated US housing prices started dropping in 2006. Homeowners were going underwater (they owed more than the house was worth) and many had questionable credit – “fog the mirror loans” were common, if you breathed you got a loan.
One of the secrets to successful fishing is to fish in a lake with fish in it. Fishing in a lake void of fish is not likely to be a worthwhile venture, though it still beats a day of work. That simple reality is something much of the investment community has never really understood.
While the failure of fiscal policy is widely recognized, monetary policy still enjoys credibility. Yet monetary policy is like shooting in a dark room. Monetary policy suffers from a profound pretense of knowledge.