Six years ago, Lehman Brothers was allowed to become the largest bankruptcy in history. I say “allowed” because it definitely could’ve been stopped. The quote above comes from a very interesting piece at the New York Times that reconstructs what led to the decision. And yes, it was a decision. Not a force of nature…
September 2014
Yeah I said it.
Flowchart: Is my stock going up? pic.twitter.com/scjFv5kaqG — Downtown Josh Brown (@ReformedBroker) September 30, 2014 Yes, this is basically what the “rally” has come to. Change is due in one direction or the other, the present condition is unsustainable.
Clips from the Halftime Report
Hedge Funds Embracing the Web
My friend Chris Gillick at Peppercomm sent this over. It depicts the nascent trend of hedge funds taking to the web and socializing with the public. Some interesting data here: By the way, if you’re in finance and interested in PR representation, Chris is your guy. Source: WalekPeppercomm
Best of Times, Worst of Times
The bad news is that there are very few areas of the US stock market that are particularly cheap right now. The good news is that a) investors aren’t limited to just US stocks and b) there’s always something dropping so that expected returns are actually growing rather than shrinking. My friend Meb Faber sees the global…
Hot Links: Systems over Gurus
What I’m reading this morning
You can’t even spell “capitulation”
People are starting to freak out a little. A massive amount of individual stocks have dropped more than 20 percent from their 52-week highs this fall and this is beginning to dawn on folks. The bullshittiness of the S&P 500’s year-to-date gain – driven by an ever-dwindling handful of gigantic darling stocks – is starting to lose…
Clips from Today’s Halftime Report
Tomorrow’s Headlines Today!
Here are some of the articles you’ll be reading over the next three years… Rocky Start for Bond Big at Janus Outflows Stabilize for PIMCO Ivascyn & Co Have the Right Stuff Life After PIMCO: Bill Gross Opens Up About Firm Exit Janus Unconstrained Fixed Income Fund Smashes Sales Record Return of the King: How…
Market Data, 1929
Above, the ticker tape and market data as displayed on the day of the Crash of 1929. This was the closest thing traders had to a Bloomberg terminal. The figures above indicate the volume on the NYSE throughout the course of the day. The tape was getting later and later because of the whirlwind of…
