Tuesday, October 22, 2013

Morning news

Here's a few newsbits:

Reformed Borker (Bork Bork Bork!) - sentiment is frothy. Yet another post I have to quote in bulk:
"Sentiment is Frothy."

Is that all you got?

"This will end badly."

Okay, sure, probably, maybe. But what else?

"Valuations are much higher than they were a year ago."

Yup. That's true. So?

Because you could have said "Sentiment is frothy" in the spring of last year after the market had run up 12% into April.

And you could have said "This will end badly" on the heels of QE2 being announced in the summer of 2010. We're up 100 percent since then and its been more than three years - are we giving that all back? Is that what you meant by "end badly"? Doesn't every bull market eventually end badly? Can you think one that ended congenially? Is that a reason not to participate in investing for the future? Did you avoid dating because of the risk of heartbreak or a thrown shoe?

And as far as valuations being richer than they were last year...well, you could have said the same in 1984 or 1994 or January of 2012 or 1946. I'm not quite sure how a statement like that can be of any importance other than for the sake of conversation.

Michael Shaoul - TV interview. Again with US bonds and equities. He's always a very charming and quietly hilarious fellow to watch.

Bonddad - oil moves below EMA(200). If you can't see how bullish this is for the US economy, then you need to get the hell out of the market and start stockpiling silver rounds.

Slate - Chinese bonds: stop being wrong. Matt Yglesias on how the "omg the Chinese will dump our bonds!!1!" clowns are utterly wrong in the most basic of ways.

Yahoo! Finance - Corvus Gold responsible for high overtime charges at the BCSC. Corporate presentations, videos, and PEAs all get yanked or redacted now that Phil McCracken of the BCSC has come back from his 5 years of paternity leave and has started doing his bloody job.

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