Do you have an opinion about stocks or bonds or foreign exchange? If so, it is easy to find a market message that will support (or contradict) your viewpoint. The “message” of the market has rarely been this confused. With plenty of important news and data this week, the theme will be: Can we find […]
Housing data have clearly hit a soft patch. How much of the deceleration is important? How much can be attributed to weather? Most importantly: Does weakness in housing threaten the economic recovery? What does it mean for stocks? [note to readers. I always try for weekend publication, but sometimes I cannot work then. The links […]
After another bad week in U.S. equities and a worse week in emerging markets, some are starting to question the strength of the global economy. Can the slow and prolonged recovery be derailed by some ill-chosen policies in a few small countries? Are we hostage to some bad hedge fund trading decisions, the way we […]
Regular readers know that I am a skeptic when it comes to the Shiller CAPE ratio approach to market valuation. I am delighted to report that I have discovered how to profit handsomely from Prof. Shiller's method. There is nothing like a convert! Background I have reviewed the Shiller method on several occasions, usually challenging […]
Here is a fresh take on earnings season. No matter how many sources you followed, you have not seen this before. Let me start with what we did not hear. This stock is a poor investment because it has a bad Tobin's Q ratio. Readers are invited to correct me if someone is offering an […]