Word: marketeers
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...there a possibility of a return to March lows? It's unclear to me as to whether or not we have to break below the March lows [6440 on the Dow], but I'd be very wary about chasing the stock market right now. We don't have many similar historical examples to look at, but in light of credit contractions and asset deflation, it should be understood that this is not a normal manufacturing-inventory recession. Nor was the 1930s. At that time, we bounced off July 1932 stock market lows, and three months later the market...
...financials or anything remotely connected to U.S. consumer discretionary activity. I think that we are in a new paradigm of frugality that is widespread geographically and across income strata. It's not a cyclical theme but a secular theme. I want to be situated in areas of the market that don't have a lot of cyclicality in terms of consumer spending - or capital spending, for that matter. I favor staples stocks (food, beverage companies, etc.) over consumer discretionary stocks (retailers, travel, etc.). Also, look to the traditional areas of the market that perform well in a weak economic environment...
...keen mind might immediately produce an aphorism from Poor Richard’s Almanac on the collapse of Wall Street in October, one of the other guests lingering at the table might be left utterly befuddled by the cataclysmic events of our time. Adam Smith, founder of free market economics, might query his own writings from The Wealth of Nations regarding government intervention in capitalism. When asked by the waiter for his order, the eccentric Smith replies with a knowing smile: perseverance. But it is plausible that the confusion of our economic meltdown would lead to restless nights...
...Twenty-two years later in 2006, he made another gutsy but deathly accurate bet—that the housing market would tank. It was the kind of boldness and tenacity that characterized his personality as an athlete as well, friends...
...Students entering the job market now are by necessity full of that faith. Sure, the new millennium came with its decade of birth pangs, they reason, but the grass will be greener soon enough; for now, at least, it makes sense to bunker down at a non-profit or graduate program and play it cool for a while. And that’s just fine. Constant disappointment, however, is always the greatest test of faith. Another few years of this, and even the most ardent believer may find himself a hard-bitten atheist...