From the monthly archives:
From the classic, Dow Theory, by Robert Rhea, 1932: :
The movement of both the railroad and industrial stock averages should always be considered together. The movement of one price average must be confirmed by the other before reliable inferences may be drawn. Conclusions based upon the movement of one average, unconfirmed by the other, are almost [...]
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One adage that seems to work as much as anything else, and why it is an adage I guess, is “buy the rumor and sell the news.” I won’t bore you with the behavioral aspects of why this works, I think you know. We are seeing it a bit this morning on display on news [...]
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A theme being discussed more and more is the idea China is going to save us from the monetary mess in which we are now firmly ensconced. But based on my understanding, it will likely be several decades, if ever, before the Chinese currency seriously challenges the US dollar for global reserve currency status.
USD- Chinese [...]
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This is a very entertaining but also very serious and real synopsis of the ongoing Greek saga. Nigel Farage is certain not out of character, as he is usually speaking his mind very loudly about the circus act that is the eurozone and the Sovereign debt crisis.
Enjoy.
http://youtu.be/W8Ayb8P1LbU
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In my Money and Markets column on Saturday I will discuss the massive debt problems we face and describe why this may lead to below-capacity growth in the global economy for years to come. The problem with below-capacity growth: it doesn’t allow countries to garner a margin of safety reserves to help weather an external [...]
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