Friday, September 5, 2014

Some Friday news

Some significant Friday events:

BI - buy the S&P and forget it for 10 years. Which self-directed investment accounts perform best? Someone did the research. Turns out, the accounts that performed the best were the ones where the owners forgot they had them. So just buy the S&P and forget about it for 10 years.

Bloomberg - China state media directing people to buy equities. This is an article for those little clever shits like Josh Brown who think there's some fundamental basis for buying Chinese stocks. Sure, P/E of 11 might be a bargain for a country with 7% annual growth; then again, do you want to be buying China right after the government has told its citizens to buy stocks?

FT beyond brics - why is India such a fucking basket case? If you thought Narendra Modi can just wave the Holy Handbag of Margaret Thatcher and fix the country, you need to read this article. - Goldman's Currie still thinks gold drops to $1050 this year. We're holding you to that, Currie. Sorry if you didn't know this, by the way, but the price of gold has nothing to do with the US dollar because Americans don't buy gold.

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