Home → Fisher Investments MarketMinder Headlines → 01-2007 Archives

Sensible Stories
By , Morningstar, 01/31/2007
MarketMinder's View: Self-managers take heed. The odds are not in your favor. There's a ton of disinformation out there.
Sensible Stories
By , 01/31/2007
MarketMinder's View: Any way you look at it, this is an attempt to inhibit free competition—a bad thing for the economy.
Sensible Stories
By , USA Today, 01/31/2007
MarketMinder's View: Understanding Fed policy is a must for the educated investor.
Sensible Stories
By , The Wall Street Journal , 01/31/2007
MarketMinder's View: OPEC will continue to cut production to keep prices high. Their economies depend on it.
Sensible Stories
By , The Washington Post, 01/31/2007
MarketMinder's View: A good explanation on how America fits in to the global trade scene.
Sensible Stories
By , The New York Times, 01/31/2007
MarketMinder's View: If this were truly a "bubble," it would be the first one in history to announce its presence. Still, things are looking downright frothy in China at the moment. Using homes as collateral and tapping credit cards to invest in the Chinese stock market should raise a few eyebrows.
Sensible Stories
By , The Financial Times, 01/31/2007
MarketMinder's View: It is safest to say that GDP is the number you arrive at if you follow an internationally agreed set of statistical conventions. So long as everyone follows these conventions, movements in GDP tell you something about national prosperity and economic progress, even if it is not entirely clear what. But no economic data, hard or soft, can ever tell the whole story.
Market Misperceptions
By , MarketWatch, 01/31/2007
MarketMinder's View: We've said it before and we'll say it again, consumer confidence is typically a lagging indicator and gives no insight into the future.
Market Misperceptions
By , MarketWatch, 01/31/2007
MarketMinder's View: Human beings love patterns. Research has shown we only need to see an event happen twice to extrapolate it out into a pattern. But this is one way your brain can trick you. But the truth is past price movements and stock charts have no power to predict the future.
Sensible Stories
By , Morningstar, 01/30/2007
MarketMinder's View: Mutual funds are inefficient investment vehicles for many investors and carry very high costs.
Sensible Stories
By , TheStreet.com, 01/30/2007
MarketMinder's View: M&A activity shows no signs of slowing and perhaps is even accelerating. Along with stock buy backs this continues to decrease supply which is good for stocks.
Sensible Stories
By , MarketWatch via Yahoo! Finance, 01/30/2007
MarketMinder's View: This article contains a lot of speculation about this week's upcoming reports, but the fact of the matter is that the economy is doing well. 2007 should be another great year.
Sensible Stories
By , TCS Daily, 01/30/2007
MarketMinder's View: Market competition is always preferable to government intervention.
Sensible Stories
By , The Financial Times, 01/30/2007
MarketMinder's View: We couldn't have said it better ourselves.
Sensible Stories
By , The Wall Street Journal , 01/30/2007
MarketMinder's View: The Congressional Budget Office and Congress's Joint Tax Committee originally estimated that reducing the capital gains rate to 15% from 20% would cost the Treasury $5.4 billion from 2003-2006. Actual revenues came in 68% above expectations!
Market Misperceptions
By , Bloomberg, 01/30/2007
MarketMinder's View: Fiscal responsibility does not mean a balanced budget. Just as with any corporation, taking on an optimal amount of debt is the best way to maximize growth.
Sensible Stories
By , Fox News, 01/30/2007
MarketMinder's View: A fascinating look inside the brain of a savant (think Dustin Hoffman in Rainman). If you thought you fully understood how your brain works, what it's capable of, and how it can subconsciously influence you, read this article. Most people don't understand the subconscious influence our brains work over us. When applied to investing this can lead to many mistakes such as extrapolating short-term events into the future, being overconfident, accumulating pride, and shunning regret.
Market Misperceptions
By , MarketWatch, 01/27/2007
MarketMinder's View: We really enjoyed this one. After all the fears of a slowing economy, now we're supposed to be afraid the economy is doing too well? Ha!
Sensible Stories
By , 01/27/2007
MarketMinder's View: The insula appears to be where the brain turns physical reactions into feelings." Now if we could only figure out how to stop feelings from becoming physical reactions, the average investor might have a chance.
Sensible Stories
By , The Financial Times, 01/27/2007
MarketMinder's View: This is spot on. The Vix index has zero predictive power for future stock returns.
Market Misperceptions
By , USA Today, 01/27/2007
MarketMinder's View: You can't be a "coward" (read: avert risk) and still expect to outperform the market. That's basic financial theory. Also, there are far better ways to hedge risk than using convertible bonds.
Sensible Stories
By , NPR, 01/27/2007
MarketMinder's View: In a word, yes.
Sensible Stories
By , The New York Times, 01/27/2007
MarketMinder's View: Politics, regulation, and Laissez-Faire policy—an update the agenda of New York's New Governor, Mr. Eliot Spitzer.
Sensible Stories
By , 01/27/2007
MarketMinder's View: Another positive indicator of healthy economic growth.
Sensible Stories
By , MarketWatch, 01/27/2007
MarketMinder's View: What housing bubble?
Market Misperceptions
By , The Wall Street Journal , 01/27/2007
MarketMinder's View: This is not something to be afraid of…it's one of the reasons developed markets are increasing in efficiency and stability.
Sensible Stories
By , The Wall Street Journal , 01/27/2007
MarketMinder's View: Any time you redistribute wealth, all you're doing is creating winners and losers—no net benefit. Why not concentrate on creating wealth instead?
Sensible Stories
By , The Wall Street Journal , 01/26/2007
MarketMinder's View: We're are all for deregulation, but this article misses an important point about IPOs. The US has seen dramatically fewer IPOs in the past few years because debt is currently less expensive than issuing new equity. As a result, it makes much more sense to obtain loans rather than sell stock to the public.
Sensible Stories
By , The Financial Times, 01/26/2007
MarketMinder's View: The environment in Japan continues to strengthen. It's only a matter of time before investors regain their confidence in the world's second largest economy.
Market Misperceptions
By , The Wall Street Journal , 01/26/2007
MarketMinder's View: Maybe it'll be next year, or maybe 20 years. Either way, we will see a major US auto manufacturer go bankrupt at some point.
Market Misperceptions
By , The Wall Street Journal , 01/26/2007
MarketMinder's View: While "glut", "plunged" and "foreclosures" are scary words, consider this: US housing inventories are LOWER today than six months ago. And don't let the foreclosures numbers confuse you—they about represent 1.7% of the total mortgage market. Any normal financial institution has allowances for bad debts well above that level.
Sensible Stories
By , The New York Times, 01/26/2007
MarketMinder's View: An interesting side effect of hedge fund industry growth—adding a political and regulatory dimension to things.
Market Misperceptions
By , Bloomberg, 01/25/2007
MarketMinder's View: Although a boost in profits for consumer discretionary companies would help, they represent only one-tenth of the S&P 500. Overall growth for U.S. stocks depends on a variety of different sectors and global economic activity.
Sensible Stories
By , The Wall Street Journal , 01/25/2007
MarketMinder's View: Electronic trading improves efficiency and makes everyone better off in the long run.
Market Misperceptions
By , The Wall Street Journal , 01/25/2007
MarketMinder's View: As long as earnings yields remain above bond yields, it makes sense for buybacks to continue. A very slight decrease in buybacks last quarter is hardly anything to fret about considering the huge magnitude of buybacks relative to the past few years.
Sensible Stories
By , Bloomberg.com, 01/25/2007
MarketMinder's View: Forget about "ending" at all: the merger boom will continue throughout 2007 and stock investors will be weeping tears of joy.
Sensible Stories
By , The New York Times, 01/25/2007
MarketMinder's View: An interesting look at some of the conflicts facing today's healthcare system.
Sensible Stories
By , The Wall Street Journal , 01/25/2007
MarketMinder's View: A great example of the difficulty of passing any legislation in a nearly gridlocked Congress.
Sensible Stories
By , The Financial Times, 01/25/2007
MarketMinder's View: Another thing to consider before getting wrapped up in the euphoria of all things Chinese.
Sensible Stories
By , Fox News, 01/25/2007
MarketMinder's View: Further proof of how the "official" US savings rate (according to the government) does not accurately represent how people save today. We don't save as a society with cash and CDs anymore, but through ownership and investment.
Sensible Stories
By , The Wall Street Journal , 01/25/2007
MarketMinder's View: The state of the economy is "strong.
Market Misperceptions
By , SmartMoney, 01/24/2007
MarketMinder's View: People tend to look at the recent past and extrapolate it into the future. Thus, so-called "optimism" surveys are merely backward-looking metrics that have little or no bearing on future stock results.
Sensible Stories
By , The Wall Street Journal , 01/24/2007
MarketMinder's View: There are no examples of sustained high growth in the postwar period that do not involve integration into the global economy." All hail free markets!
Market Misperceptions
By , MSN Money, 01/24/2007
MarketMinder's View: Our ridiculous headlines of the week. If anything, the nation is under-leveraged and could take on more debt of all kinds. We've been running budget deficits for decades off and on, and it turns out the nation generates a pretty hefty return on investment for that debt. There's no reason it can't continue.
Sensible Stories
By , The Wall Street Journal , 01/24/2007
MarketMinder's View: While we don't doubt the importance of alternative fuels in the future, it is unlikely the US will reach energy independence for decades, if ever. Demand for energy will remain high and nations all over the world will continue to compete for it.
Sensible Stories
By , The Wall Street Journal , 01/24/2007
MarketMinder's View: Some reasons to remain cautious about US technology stocks this year.
Sensible Stories
By , The Wall Street Journal , 01/24/2007
MarketMinder's View: Setting the record straight on inflation its relation to money supply and economic output.
Sensible Stories
By , The Slate, 01/24/2007
MarketMinder's View: A stellar report on why you can't be a good investor unless you know something others don't—and how difficult it can be to find that something.
Market Misperceptions
By , The New York Times, 01/23/2007
MarketMinder's View: Maybe, maybe not. But a globally diversified investor sees this as the strengthening of the overall economy and its competitive forces, not a danger to anyone.
Market Misperceptions
By , The Wall Street Journal , 01/23/2007
MarketMinder's View: This is just crazy. The global bull market for stocks since 2003 has occurred during a period of rising oil prices and low interest rates. They're not meaningfully correlated with stock prices, period.
Sensible Stories
By , Bloomberg, 01/23/2007
MarketMinder's View: Making the case for continued strong commodities demand amidst a growing global economy.
Sensible Stories
By , MarketWatch, 01/23/2007
MarketMinder's View: Have a look at Venezuela's recent stock market performance to see how beneficial protectionism truly is.
Market Misperceptions
By , CNN Money, 01/23/2007
MarketMinder's View: It's time to get a new financial offensive coordinator if your investing bets are based on football.
Sensible Stories
By , The Wall Street Journal , 01/23/2007
MarketMinder's View: Believe it or not, US manufacturers are increasing production, not receding.
Market Misperceptions
By , The Wall Street Journal , 01/23/2007
MarketMinder's View: Investing success based on a policy of nationalized assets and strong arm political tactics? We'll look elsewhere, thanks very much.
Market Misperceptions
By , Bloomberg, 01/23/2007
MarketMinder's View: Is this really an era of small returns? You be the judge: In 2003, the S&P 500 was up 29%, compared to the MSCI EAFE being up 39%! The S&P also posted double digit growth in 2004 and 2006, whereas the EAFE has posted double digit growth every year since 2003. Seems like a strong bull market to us.
Sensible Stories
By , The Associated Press via Yahoo! Finance, 01/23/2007
MarketMinder's View: The Japanese economy continues its expansion...can Japanese stock prices be far behind?
Market Misperceptions
By , USA Today, 01/23/2007
MarketMinder's View: Why would anyone care? Stock splits do nothing to determine stock values.
Sensible Stories
By , Bloomberg, 01/23/2007
MarketMinder's View: The global boom in real estate continues.
Market Misperceptions
By , Barron’s, 01/20/2007
MarketMinder's View: So what? Isn't it a good thing that other countries are getting their acts together and becoming good places for investment, too? The properly globally diversified investor shrugs off such worries.
Market Misperceptions
By , MarketWatch, 01/20/2007
MarketMinder's View: Never get too excited or disappointed about this number—it's typically a lagging indicator and therefore irrelevant to future market returns.
Market Misperceptions
By , The Wall Street Journal , 01/20/2007
MarketMinder's View: While the developed world did in fact use slightly less oil in 2006, it was almost entirely due to a decline in heating oil. 2006 was actually the sixth-hottest year on record. Gasoline and diesel demand remains high globally as the economy expands.
Sensible Stories
By , CNET News, 01/20/2007
MarketMinder's View: Increased regulation can have unintended consequences. We say, bring on the reforms!
Sensible Stories
By , The Wall Street Journal , 01/20/2007
MarketMinder's View: It's a powerful thing when one of the world's largest companies reports profit growth of over 100%!
Market Misperceptions
By , 01/20/2007
MarketMinder's View: We checked, and nothing big or surprising got passed, as expected.
Sensible Stories
By , The Financial Times, 01/20/2007
MarketMinder's View: Infrastructure spending, and with it new profitable opportunities, continue to increase. This simply doesn't happen in a shrinking economy.
Sensible Stories
By , The Financial Times, 01/19/2007
MarketMinder's View: An excellent article on why the euphoria in China isn't all that it's cracked up to be. Yes, we're bullish on developing countries…but it's important to know the risks as well.
Market Misperceptions
By , CNNMoney, 01/19/2007
MarketMinder's View: Our ridiculous headline for the week. The last several years featured headlines about rising energy costs sinking the economy. Now, they've figured out a way to tell us falling prices are bad, too. Is there any such thing as a good scenario in their minds?
Sensible Stories
By , The Motley Fool via MSNBC, 01/19/2007
MarketMinder's View: Don't let the title fool you: this article makes some great points on valuations and surging profits in emerging markets. As long as they can sustain economic growth and profitability gains, emerging markets stocks should continue to see big benefits.
Sensible Stories
By , The Financial Times, 01/19/2007
MarketMinder's View: It may seem unfathomable that this is a bullish headline for stocks, but it is. If controversy over foreign policy continues, the likelihood of major legislation passing in the next few years becomes even less likely. "Losing his own party's support on the war would be an unprecedented repudiation, marking the end of Mr Bush's ability to govern or lead." This lifts some uncertainty about the likelihood for new legislation—bullish for stocks.
Sensible Stories
By , MarketWatch, 01/19/2007
MarketMinder's View: Globally benign interest rates continue—ensuring ample liquidity and incentive for further investment and borrowing.
Market Misperceptions
By , The Wall Street Journal , 01/19/2007
MarketMinder's View: Here's some even better investing advice: You shouldn't buy or sell unless you think you know something others don't. Reacting to already widely known information is not a good investing strategy.
Sensible Stories
By , Bloomberg, 01/19/2007
MarketMinder's View: A multitude of excellent points on why the economy is in better shape than most believe.
Market Misperceptions
By , The Wall Street Journal , 01/19/2007
MarketMinder's View: We wouldn't advise trying to game short term interest rates based on oil prices. Besides, the Fed generally looks at core inflation, which excludes volatile items like food and energy.
Market Misperceptions
By , The Motley Fool, 01/18/2007
MarketMinder's View: We observe just the opposite: consensus forecasts of professional investors are bullish on growth stocks. Anyway, it's not a matter of simply being contrarian. The truth is that different styles, sectors, countries…they all go in and out of favor, so the key is figuring out what and when.
Market Misperceptions
By , CNN Money, 01/18/2007
MarketMinder's View: Once again, it's all relative. Yes, foreclosures in the US rose 35% from a year ago, but that's up from a very low base rate. Also, adjustable rate mortgages actually represent a tiny portion of overall loans. And when some of these ARMs do in fact reset this year, it's worth noting that long term interest rates are still very low.
Market Misperceptions
By , The Wall Street Journal , 01/18/2007
MarketMinder's View: This has got to be some kind of all-time record. Just two weeks ago the consensus was calling for the dollar to implode in 2007. Either way, it doesn't matter. Currency movements don't move stocks.
Sensible Stories
By , The Wall Street Journal , 01/18/2007
MarketMinder's View: We agree: "Mr. Pickens says it is not time to panic: ‘We're just two weeks into a 52-week year.' He said the most persuasive evidence is that global oil production, at roughly 85 million barrels a day, is still roughly equal to demand of 85 to 86 million barrels.
Sensible Stories
By , The Financial Times, 01/18/2007
MarketMinder's View: There's clearly a discrepancy between what the IMF and corporate executives think about the economy, and the dour story journalists present us with. Which would you believe?
Market Misperceptions
By , Morningstar, 01/18/2007
MarketMinder's View: Here's a little known fact: the median age of US citizens in 2050 is expected to be 39 years old. Now, does that sound like an aged, decrepit population to you?
Sensible Stories
By , The Wall Street Journal , 01/18/2007
MarketMinder's View: "All in all, despite huge outlays for wars in Iraq and Afghanistan, the nation's fiscal picture is brightening. We hate to ruin the press corps's day with such cheerful news, but there it is." Good times! Tax revenue continues to exceed expectations as the economy grows, leaving municipal, state and federal budgets much healthier than many would have anticipated.
Market Misperceptions
By , MarketWatch, 01/18/2007
MarketMinder's View: If you read this one carefully, it's essentially pointing out that foreign stocks have recently beaten US stocks. But what happens when it's the other way around? Then ‘lazy' portfolios will lag.
Sensible Stories
By , The Washington Post, 01/17/2007
MarketMinder's View: There's no such thing as a "big" or "small" number unless it's relative to something else. The deficits won't be as scary when put in the right context.
Sensible Stories
By , The Financial Times, 01/17/2007
MarketMinder's View: An education on today's credit market. But we view derivatives and new financial instruments as market stabilizers, not de-stabilizers.
Market Misperceptions
By , The Wall Street Journal , 01/17/2007
MarketMinder's View: A couple weeks worth of returns means nothing. Have we already forgotten the global correction in equities less than a year ago…that was a bad time to sell stocks, too.
Sensible Stories
By , Bloomberg, 01/17/2007
MarketMinder's View: Yes, global diversification is a good way to hedge fluctuations in currencies. But remember there is no real correlation between currency movements and stock movements.
Market Misperceptions
By , CBS News, 01/17/2007
MarketMinder's View: Who cares?
Sensible Stories
By , The Wall Street Journal , 01/17/2007
MarketMinder's View: Japan still looks very attractive for stock investors.
Sensible Stories
By , The Wall Street Journal , 01/17/2007
MarketMinder's View: Harmful legislation such as this will indeed increase our dependence on foreign oil and keep prices high.
Market Misperceptions
By , The Financial Times, 01/17/2007
MarketMinder's View: A scary headline. But this is just how economies develop. Once upon a time, the US was the leading electronics and automaker in the world. Instead of hanging on to those industries, we pursued new endeavors while developing countries produced goods cheaper. That seems to have turned out ok for us and the global economy. Why would tech be any different?
Sensible Stories
By , The Economist, 01/17/2007
MarketMinder's View: Understanding behavioral psychology and the human brain is imperative to understanding markets.
Sensible Stories
By , MarketWatch, 01/17/2007
MarketMinder's View: Corporations have more cash than ever…consider it ammo for more M&A and share buybacks.
Sensible Stories
By , CNNMoney, 01/13/2007
MarketMinder's View: This is backward-looking data, so it can't affect future stock prices much. But still, it's worth noting the continued strength of the US consumer.
Sensible Stories
By , The Financial Times, 01/13/2007
MarketMinder's View: "Individuals and businesses are continuing to shift a larger share of their cash into higher-yielding securities and other investments and away from partly insured but lower-yielding bank accounts". This is bullish—more people from all over the world are becoming investors.
Market Misperceptions
By , Bloomberg, 01/13/2007
MarketMinder's View: $1 trillion is just an arbitrary number: it has nothing to do with anything fundamental or economic.
Sensible Stories
By , TheStreet.com, 01/13/2007
MarketMinder's View: More equity supply destruction—bullish for share prices.
Market Misperceptions
By , Reuters, 01/13/2007
MarketMinder's View: Golly, we had no idea clock technology was so advanced it predicts the future! "The symbolic clock, maintained by the Bulletin of Atomic Scientists, currently is set at seven minutes to midnight, with midnight marking global catastrophe." Just to be safe, we're watching Dr. Strangelove this weekend.
Market Misperceptions
By , TheStreet.com, 01/13/2007
MarketMinder's View: A classic fear of heights argument. Just because the market has gone up for the last few years doesn't mean it has to fall.
Market Misperceptions
By , The Wall Street Journal , 01/13/2007
MarketMinder's View: Our ridiculous headline of the week. Oil prices don't drive the stock market and never have!!!
Market Misperceptions
By , The Wall Street Journal , 01/13/2007
MarketMinder's View: Maybe, but the thing is, if the rapid rise in oil prices didn't crimp growth the last two years, why would a decline boost growth now?
Sensible Stories
By , The Economist, 01/13/2007
MarketMinder's View: Some color about the Bank of England and the European Central Bank's methods. Though we caution getting too riled up over small movements in interest rates.
Sensible Stories
By , BusinessWeek, 01/12/2007
MarketMinder's View: The dollar's value has declined since 2002, but in fact, a lot of good things have happened in the meantime.
Sensible Stories
By , MarketWatch, 01/12/2007
MarketMinder's View: Rising or stable short rates indicate the major central banks of the world are not worrying about growth prospects for the world economy.
Sensible Stories
By , The Washington Post, 01/12/2007
MarketMinder's View: A free market system is the best way to ensure the best Healthcare for everyone.
Sensible Stories
By , Bloomberg, 01/12/2007
MarketMinder's View: Growth in Europe's largest economy continues to beat expectations.
Sensible Stories
By , The Washington Post, 01/12/2007
MarketMinder's View: Democracy is quickly deteriorating in Venezuela…could publicly owned companies be next?
Market Misperceptions
By , The Wall Street Journal , 01/12/2007
MarketMinder's View: Well, yes. If you take out a bunch of the low P/E stocks in an index, then the index's average P/E goes up. So what?
Sensible Stories
By , 01/12/2007
MarketMinder's View: We've noticed a sharp decline in usage of the phrase ‘jobless recovery' when pundits speak about the US economy these days.
Market Misperceptions
By , CNN Money, 01/12/2007
MarketMinder's View: A minor negative. Should this bill make it through the Senate, its impact will be minimal since most states already have a minimum wage higher than the proposed federal rate.
Market Misperceptions
By , The Wall Street Journal , 01/12/2007
MarketMinder's View: The P/S ratio has been around for decades (now a core part of standard investing curriculum). Therefore, it's likely discounted into stock prices, making its predictive powers minimal.
Sensible Stories
By , The Wall Street Journal , 01/12/2007
MarketMinder's View: See yesterday's commentary, "T.G.H" for more.
Sensible Stories
By , The Wall Street Journal , 01/12/2007
MarketMinder's View: Hate is a strong word, but what else can we say about our feelings toward the Supreme Court's"Kelo" decision? Today, little can stop local governments across the country from confiscating private property.
Sensible Stories
By , TCS Daily, 01/11/2007
MarketMinder's View: A cogent perspective on the proposed US federal minimum wage increase.
Market Misperceptions
By , The Financial Times, 01/11/2007
MarketMinder's View: We've argued time and again trade deficits don't matter. (See our past column by Austin Fraser, "Reality Check: The Current Account—One Less Thing to Worry About" for more.)
Sensible Stories
By , Yahoo! Finance, 01/11/2007
MarketMinder's View: Fear is good—bull markets thrive on it.
Sensible Stories
By , The Financial Times, 01/11/2007
MarketMinder's View: "In the grand scheme of things, the country's $15bn equity market is an irrelevance…By and large, foreign corporations have, sensibly, already written down the book values of their investments in Venezuela."
Sensible Stories
By , The Wall Street Journal , 01/11/2007
MarketMinder's View: Punitive regulatory measures against oil and gas drilling are most likely to have the unintended effect of decreasing drilling activity—crimping future supply and allowing energy prices to remain high.
Sensible Stories
By , The Financial Times, 01/11/2007
MarketMinder's View: A rational and fact-based approach to the current US economy. We share this optimistic view and extend it to the global economy.
Market Misperceptions
By , Bloomberg.com, 01/11/2007
MarketMinder's View: Regardless of what the 100 Hour plan does for Democrats or Republicans, legislation headed to the floor is unlikely to have a big impact on the economy or the stock market.
Sensible Stories
By , The New York Times, 01/11/2007
MarketMinder's View: A light afternoon diversion on this wintry mid-week afternoon on the future of the "dismal science".
Sensible Stories
By , Bloomberg, 01/10/2007
MarketMinder's View: We quote: "U.S. investors last year put the least money into domestic stock funds in a rising market since 1989." As overall investor sentiment remains dour, even a modest up-tick in demand for stocks would be bullish.
Market Misperceptions
By , Bloomberg, 01/10/2007
MarketMinder's View: Another article predicting death for the US consumer. These predictions have been around as long as the bull market…and still haven't materialized.
Sensible Stories
By , Bloomberg, 01/10/2007
MarketMinder's View: We agree: the strong M&A trend in Europe should continue in 2007.
Sensible Stories
By , TCS Daily, 01/10/2007
MarketMinder's View: A similar market-based reasoning for much maligned CEO pay is also applicable.
Sensible Stories
By , The New York Times, 01/10/2007
MarketMinder's View: An indication the US housing slowdown is ending? (See today's market commentary for more.)
Sensible Stories
By , The Wall Street Journal , 01/10/2007
MarketMinder's View: Nationalism and protectionism are beginning to create some real concerns as countries like Russia and Venezuela seize major assets in the name of their countries. This is particularly disquieting as it pertains to future energy supply.
Sensible Stories
By , 01/10/2007
MarketMinder's View: Consumer spending and borrowing remain high—positive signals the economy is still growing.
Sensible Stories
By , TheStreet.com, 01/09/2007
MarketMinder's View: M&A activity is already surging in the New Year.
Market Misperceptions
By , The Financial Times, 01/09/2007
MarketMinder's View: ....A quick breather from economic woes to make room for a little CEO compensation bashing....
Sensible Stories
By , Bloomberg, 01/09/2007
MarketMinder's View: Shrinking markets push equity prices higher. A trend we expect will continue in 2007.
Market Misperceptions
By , Bloomberg, 01/09/2007
MarketMinder's View: ....Next, we're confronted with the prospects of a "Severe Correction"....
Market Misperceptions
By , The Wall Street Journal , 01/09/2007
MarketMinder's View: ....And here even more fire and brimstone finds us as we tour the headline worries of 2007....
Market Misperceptions
By , The Wall Street Journal , 01/09/2007
MarketMinder's View: ....and the suffering continues, looking for a dollar that "must" continue to fall in order to "solve" the rampant problems of US deficits....
Sensible Stories
By , The Financial Times, 01/09/2007
MarketMinder's View: The integrity of statistics is vital to properly understanding and analyzing financial markets.
Market Misperceptions
By , The Wall Street Journal , 01/09/2007
MarketMinder's View: ....And one more stop on the pain train! We should all head for the hills as the US yield curve portends a disastrous end for stocks and bonds in 2007. Whew, what a dour ride that was! These poor prognosticators could really use a hug. The good news is, they're pain is our gain. As the media and economists continue to widely disseminate their dour sentiment, these worries are priced in to stocks, thus stripping them of surprise power and making them a non-issue for investors looking ahead.
Sensible Stories
By , Bloomberg, 01/09/2007
MarketMinder's View: 2006 ended, the US housing market slumped, and stocks rose. It seems people are (finally) realizing the US real estate market won't destroy the economy or stocks.
Market Misperceptions
By , Bloomberg, 01/09/2007
MarketMinder's View: For whatever reason, sentiment in the popular press is particularly dour today. Maybe it's just a case of the Mondays. Here's a tour of today's misery: First, we find reasons markets are facing "disaster"....
Sensible Stories
By , The New York Post, 01/06/2007
MarketMinder's View: A fun one to end the week…
Sensible Stories
By , BusinessWeek, 01/06/2007
MarketMinder's View: A worthwhile discussion on the dollar and why its decline isn't the apocalypse many make it out to be.
Market Misperceptions
By , The Economist, 01/06/2007
MarketMinder's View: Another article pointing to "excess" liquidity sloshing around the global economy. We remain unconvinced.
Sensible Stories
By , TCS Daily, 01/06/2007
MarketMinder's View: …in all of our intellectual pursuits we tend to follow strategies for avoiding truth. The more knowledgable [sic] we are, the more we follow a high-investment strategy of selectively accepting evidence that favors our outlook while discounting contrary information.
Market Misperceptions
By , MarketWatch, 01/06/2007
MarketMinder's View: An example of the media twisting a piece of good news into something bad. This happens a lot more than you think.
Sensible Stories
By , Foreign Policy, 01/06/2007
MarketMinder's View: How decision-making biases can impact politics.
Sensible Stories
By , MarketWatch, 01/06/2007
MarketMinder's View: If for some reason stocks do fall this year, it won't be because the market has risen four years in a row.
Sensible Stories
By , The Wall Street Journal , 01/06/2007
MarketMinder's View: If our savings rate is stubbornly stuck below our investment rate, and if China does allow its currency to revalue over time, then we will simply run a deficit with another collection of countries, and from a domestic point of view, nothing much will have changed. Except that we won't have this subject to discuss with China anymore.
Market Misperceptions
By , The Wall Street Journal , 01/05/2007
MarketMinder's View: While we agree with Senator Baucus on the importance of trade, we're skeptical of his proposal to "offer benefits to not only workers displaced by trade but to those displaced by all aspects of globalization."
Sensible Stories
By , The Financial Times, 01/05/2007
MarketMinder's View: An interesting article tackling the myth that fewer people means lower economic growth.
Sensible Stories
By , The Financial Times, 01/05/2007
MarketMinder's View: How the stagnation of wages is the result of technology and innovation.
Sensible Stories
By , Reuters, 01/05/2007
MarketMinder's View: Another reason to believe oil prices will remain high.
Sensible Stories
By , The Wall Street Journal , 01/05/2007
MarketMinder's View: A great editorial with too many salient points to list. Just read it.
Market Misperceptions
By , Bloomberg, 01/05/2007
MarketMinder's View: This is fear mongering at its finest. Last we checked, interest rates were still low by historical standards.
Market Misperceptions
By , The Washington Post, 01/05/2007
MarketMinder's View: This is not the proper way to promote green energy. The market is more efficient at allocating capital.
Market Misperceptions
By , USA Today, 01/04/2007
MarketMinder's View: Bull markets don't die until some type of euphoria has started.
Market Misperceptions
By , MarketWatch, 01/04/2007
MarketMinder's View: The death of the consumer, falling housing prices, and inflation worries are all stories priced into the market at this point.
Sensible Stories
By , The Financial Times, 01/04/2007
MarketMinder's View: Don't be tricked by the headline. While earnings growth is expected to slow, it will remain close to double-digit rates and well above the long term average
Market Misperceptions
By , The Wall Street Journal , 01/04/2007
MarketMinder's View: A common cry among the financial media is that the world is currently "awash" in excess liquidity, which will drown the global economy and cause everything from rampant inflation to asset price bubbles in housing, stocks, and bonds. But we haven't seen any statistics that convince us such a thing even exists.
Sensible Stories
By , MSN, 01/04/2007
MarketMinder's View: More positive developments in Europe's largest economy.
Sensible Stories
By , The New York Times, 01/04/2007
MarketMinder's View: A good article dispelling some of the myths surrounding the dollar's recent decline.
Sensible Stories
By , The Wall Street Journal , 01/04/2007
MarketMinder's View: We're not sure if Bush's call for bi-partisanship will lead to any major legislative changes, but we do hope the tax cuts are made permanent.
Sensible Stories
By , The Financial Times, 01/03/2007
MarketMinder's View: A record amount of supply destruction in 2006 was bullish for equities…
Sensible Stories
By , The Wall Street Journal , 01/03/2007
MarketMinder's View: China's continued demand for oil is one reason prices should remain high in 2007.
Sensible Stories
By , The Economist, 01/03/2007
MarketMinder's View: …and there is good reason for it to continue in 2007.
Market Misperceptions
By , The Wall Street Journal , 01/03/2007
MarketMinder's View: It's a mistake to assume excess liquidity is a negative for security prices when earnings yields remain attractive.
Market Misperceptions
By , MSNBC, 01/03/2007
MarketMinder's View: The media continues to blather on about a housing bubble wrecking the economy this year even though we've already seen signs of housing stabilizing.
Market Misperceptions
By , The Wall Street Journal , 01/03/2007
MarketMinder's View: Every year, someone throws out the "So goes January, so goes the year" myth. Don't believe it.
Sensible Stories
By , The Wall Street Journal , 01/03/2007
MarketMinder's View: Thus the system of buying and selling votes, including the payment of premium prices for voting shares needed for control, works very well to settle the election issue.
Sensible Stories
By , The Wall Street Journal , 01/03/2007
MarketMinder's View: A smart editorial on the Social Security "crisis.