Wednesday, November 26, 2014

I have a rock that hasn't done anything in 5 years - wanna buy that too?

Poked around in some other blog rolls and found these:

Bespoke - jobless claims "surge". Except they normally go up this time of year. Yawn.

FT Alphaville - the US government has finally stopped holding back the recovery. Actually, either Bonddad or Bill McBride have already been talking about this for months, buddy. It's not news. It was news in late 2013.

Gavyn Davies - fault lines within the ECB. And it all boils down to party lines: Draghi is a Keynesian, while Weidmann is a sadomonetarist from the Austrian school. Ultimately, we can hope that Weidmann gets proven wrong, and decades from now his grave becomes a popular defecation place. A hilarious jab in the comments section: "These guys are from the Austrian school? Do they ride to the ECB meetings in a carriage?"

JC Parets - hey, look at Europe! Yeah, upon reading this article, I'm suddenly overcome with doubt as to whether it was a good idea to buy a Europe ETF. I generally don't believe one single sentence this guy writes, and basing everything on a long-term ratio chart is specious.

Short Side of Long - China to play catch-up? Hey Tiho, did you know that the FXI is only the "China 25"? Maybe the chart sucks because that ETF is a bunch of fat SOEs, and it's only bought by hedge fund morons who have no clue about the China economy? Maybe instead you should look into China tech ETFs instead, which are up quite nicely over the past year, especially considering that Jim O'Neill (the guy who invented "BRIC") has called China tech the new play?

But no, so you're going to buy the FXI because it's not done anything in over 5 years? That's an investment strategy? I have a rock that hasn't done anything in 5 years - wanna buy that too?