As to the public’s attraction to the stock market, that one’s even more easily explainable:
Joshua M Brown
Con artists know how to spot this mentality and exactly what to say in order to exploit it.
This morning’s Thundering Word note at Merrill Lynch contains an interesting passage about the litany of “pain trades” that have blown up as the end of the “max liquidity” regime has wreaked havoc in some of the most crowded areas of the market… A “Cesspool of Rotation” 2015 asset returns have been none too shabby:…
What I’m reading this morning
Alright, Alright, Alright.
The academic literature on who wins the White House in a given election is pretty clear. People vote their wallets – when they feel heavier the incumbent’s party keeps power, when they feel lighter, it’s “time for change”. This isn’t a slam dunk every time, but it’s an over-generalization worth keeping in mind. I’ve seen…
Oil can get cut in half during both recession and expansion. It is very often its own story.
These were the most read posts on the site this week, in case you missed it:
Long-time reader Michael Johnston did a really nice thing by putting together some of the more poignant things I’ve written over the years and I’m really flattered and honored to hear that my ramblings are having a positive impact with some people. When I looked back at some of these – and the posts they’ve come…