Every fringe lunatic group is coming out of the woodwork now to protest whatever ails them. In Milwaukee it’s the One Passenger One Ticket protest in which the fatties lament the fact they’re being asked to buy two airplane tickets. You’re starting to see this kind of thing everywhere.
But my favorite regional protest is the Occupy Boston movement, in which the mutual fund complex’s furious employees come out against the thing that hurts them most…
As we learned from Jim Bianco at the Big Picture Conference this week, 84% of stocks are moving in the same direction as the S&P 500 on an everyday basis these days, the highest level of correlation in 80 years. If you’re picking stocks for Putnam or T Rowe or Fidelity, you’ve basically been made obsolete.
And so they assemble and fight the power. Rock on, you crazy Masshole mutual fund sonsabitches!
hat tip Barry