Looking Back, Looking Ahead

Today marks some important changes both in market fundamentals and in psychology.  On such occasions we interrupt our regular writing agenda for more specific market commentary.  This is an occasion where readers unfamiliar with our recent work should take some time to follow the links. In recent days we have tried to provide some perspective […]

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Wrong Turn for TARP

A few days ago we wrote our top suggestion for President-Elect Obama.  Several blogging colleagues took up the theme, and we sincerely thank them for their interest and for stimulating discussion.  We plan a more complete review of opinion, but events have, once again, overtaken the schedule.  The current Administration is moving in the opposite […]

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How NOT to Think about Your Investments

Many stocks, perhaps most stocks, are trading at prices that do not reflect fundamental value, as determined by traditional methods.  The excellent team at Bespoke Investment Group, one of our featured sites, provides a great list of stocks trading at "crazy" P/E ratios.  (Since P/E is only part of the story, perhaps you should subscribe […]

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ETF Trading is a Key to Sector Rotation

The rise of ETF’s has caused a major change in trading, particularly in sector rotation strategies.  There are several good current articles on this subject. The Float, which does a nice job of covering developments in ETF’s, cites an article by Michael Sesit on how ETF’s threaten actively managed funds.  This is a very significant […]

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