Sorry I'm late. I had to spend a couple hours going through the Highway Traffic Act to explain why an engineer should lose his license and stop smoking crack.
And now, the news:
Bespoke - another breakout. Quote:
As shown in our trading range chart below, the index never managed to pull below overbought territory (>1 standard deviation above its 50-DMA) over the last two weeks. Instead, the index's moving averages played catch-up, so even though it's higher than it was when it last hit an all-time high, the S&P is less overbought now than it was then.And this is important, for several reasons. #1, yes your averages can catch up. But #2, in a bull market an overbought condition tends to stay overbought, instead you should be changing your criteria for when to go contrarian.
Bespoke - if you like 10-baggers. Do you like 10-baggers? Then why are you screwing with miners when you could have simply bought Ford, Chipotle, Fossil, Expedia, Seagate or Priceline.com in 2009? Is it because your radical right-wing politics demands you only buy shitty miners?
NYT - Switzerland's proposal to pay people for being alive. Quote:
Evelyn Forget, a health economist at the University of Manitoba, has done some of the best research on the results. Some of her findings were obvious: Poverty disappeared. But others were more surprising: High-school completion rates went up; hospitalization rates went down. “If you have a social program like this, community values themselves start to change,” Forget said.So in other words, it saves money. Something similar, btw, has already been shown to work for third-world aid: screw handing money over to governments. Just give each poverty-stricken peasant $100, and they invest it in livestock, tools, and other things that will provide them a steady income.