Home → Fisher Investments MarketMinder Headlines → 02-2010 Archives

Sensible Stories
By , The Guardian, 02/26/2010
MarketMinder's View: After constant talk of UK’s economic destruction, it turns out the Brits were in a lot better shape than most believed.
Market Misperceptions
By , Barron’s, 02/26/2010
MarketMinder's View: Why folks continue to think past performance is indicative of future results is beyond us. What stocks did over the past decade have no bearing on where they go this year, next year, or 10 years down the road.
Sensible Stories
By , Time, 02/26/2010
MarketMinder's View: “China would lose more than it would gain by any dramatic shift out of US Treasuries.” Amen.
Sensible Stories
By , The Wall Street Journal, 02/26/2010
MarketMinder's View: Overall, we think this change little impacts stocks. But demonizing short-selling as the root cause of market declines is silly. In the end, “stocks tend to fall when investors decide they are worth less, not because of some shadowy machinations by short-sellers.”
Market Misperceptions
By , MarketWatch, 02/26/2010
MarketMinder's View: As we’ve said here before, Financials were the hardest hit during last year’s crisis and will likely be the slowest to recover in the bull market. Nothing new here and nothing that will impede this budding recovery. 
Market Misperceptions
By , Smart Money, 02/26/2010
MarketMinder's View: Folks love to bemoan what “terrible” shape the economy’s in. They seem to ignore the positive economic signs that abound—investors shouldn’t let the power of pessimism of disbelief persuade them otherwise.
Sensible Stories
By , Bloomberg, 02/26/2010
MarketMinder's View: We like any decision to go slow on a regulatory overhaul. The US already has stringent accounting standards the rest of the world tends to emulate. Plus, a wacky accounting rule change was instrumental in kicking off the most recent crisis to begin with.
Market Misperceptions
By , BusinessWeek, 02/26/2010
MarketMinder's View: Gold is no more a safe haven than any other commodity or industrial material. It boasts miserable returns in the long term. For more, see our 2/12/2010 cover story, “Gold’s Safety Blanket Myth.”
Market Misperceptions
By , Barron’s, 02/26/2010
MarketMinder's View: Housing prices fell all 2009, while stocks surged strongly. The market doesn’t need a big housing turnaround to continue on its way.
Market Misperceptions
By , CNN Money, 02/25/2010
MarketMinder's View:
In the last two weeks? Folks shouldn’t be concerned with such short-term numbers. Unemployment will continue to rise until it doesn’t—historically, the economy begets jobs, not the other way around.
Dueling Headlines
02/25/2010
MarketMinder's View: So which one is it? Are durable goods up or down? Just another example of how often economic data are misconstrued.
Market Misperceptions
By , The Wall Street Journal, 02/25/2010
MarketMinder's View:
The fate of the EU’s recovery hardly lies in the hands of one country—particularly one as small as Greece. As a whole, it’s on an upswing and a few country-specific problems shouldn’t derail this nascent recovery.
Market Misperceptions
By , Daily Finance, 02/25/2010
MarketMinder's View:
Make no mistake—the Chinese economy and markets are big and getting bigger, but they’re still emerging. So don’t expect government or other data to be as reliable as in developed markets. But that’s hardly new and won’t prevent China and other Emerging Markets from boosting the global economy.
Sensible Stories
By , The New York Times, 02/25/2010
MarketMinder's View: No matter how you feel about this legislation personally, markets dislike big legislative change. The fact this and other legislation have been watered down significantly or sidelined altogether reduces legislative risk and helps boost stocks. For more, see our 2/23/2010 cover story, “Dead Bill Walking?”
Market Misperceptions
By , MSNBC, 02/25/2010
MarketMinder's View:
One or two data points don’t indicate the economic recovery is stalling. In fact, many economic data have been exceeding expectations. Corporate earnings, for instance, have been crushing expectations.
Sensible Stories
By , MarketWatch, 02/25/2010
MarketMinder's View: Although we don’t entirely agree with the methodology here, we do agree “stocks have more potential upside than downside risk.”
Market Misperceptions
By , Barron’s, 02/25/2010
MarketMinder's View:
It’s foolish to focus on short-term market moves instead of longer-term trends. Emerging Markets stocks have pulled back recently. But market corrections are usually over before you know it, and the longer-term prospects for Emerging Markets looks bright.
Sensible Stories
By , MSNBC, 02/25/2010
MarketMinder's View: We’re not for banning short-selling, but this rule should assuage some concerns about the practice without excessively inhibiting short-sellers—hopefully it’s a win-win.
Market Misperceptions
By , Minyanville, 02/25/2010
MarketMinder's View:
“Debt + Dollar + Delusion + Depletion = Decline.” They forgot riDiculously Dumb article. Investors planning for the end of the world are likely to be disappointed. It’s pessimism of disbelief hard at work—bad news will only get worse and any positive news is likely wrong. Don’t subscribe to this idea.
Sensible Stories
By , The Wall Street Journal, 02/25/2010
MarketMinder's View: Banks need more effective regulations, not just another layer of regulation.
Dueling Headlines
By , Time, 02/24/2010
MarketMinder's View: Currency fluctuations are normal and expected—which leaves doom-and-gloom projections for the dollar’s fate one day replaced by proclamations of its return to primacy the next. Investors can ignore the back-and-forth: Normal dollar strength or weakness matters little to stocks.
Market Misperceptions
By , Financial Times, 02/24/2010
MarketMinder's View:
Recovering from recession is never easy, but the steps taken so far have effectively staved off an even worse scenario. Looking forward, we think it more likely the exit from stimulus continues gradually, and a few potential policy bumps notwithstanding, recovery continues apace.
Market Misperceptions
By , Bloomberg, 02/24/2010
MarketMinder's View:
Economic data, like the broader recovery itself, will not rise in a straight line. Fluctuations in specific components are normal during nascent recoveries, and with exports continuing to increase, Germany and the global economy are likely on the right track.
Sensible Stories
By , The Wall Street Journal, 02/24/2010
MarketMinder's View: Rising capital goods demand has fueled the largest jump in euro-zone factory orders in 20 months—a welcome sign of recovery.
Sensible Stories
By , The Wall Street Journal, 02/24/2010
MarketMinder's View: With opposition from both sides of the aisle, it looks like this attempt at limiting banks’ risk-taking is heading for the trash bin—likely a positive for stocks favoring the status quo.
Sensible Stories
By , Bloomberg, 02/24/2010
MarketMinder's View: Chairman Bernanke confirmed Fed plans to keep interest rates low for an “extended period”—supporting all indications they are approaching the stimulus exit gradually and cautiously. For more, see our 2/11/2010 cover story, “The Plan That’s Just a Plan.”
Market Misperceptions
By , BusinessWeek, 02/24/2010
MarketMinder's View:
“It’s different this time”—the four most dangerous words in investing. Corporate balance sheets are much healthier than most people appreciate, especially considering recent economic struggles. With massive amounts of cash on hand, firms are well positioned to initiate capital spending—an important economic near-term driver in our view.
Sensible Stories
By , The Wall Street Journal, 02/24/2010
MarketMinder's View: A €1 billion offering of five-year Portuguese government bonds was met with strong demand—a positive sign for one of the now-infamous PIIGS countries and their ongoing debt struggles. For more, see our 2/18/2010 cover story, “PIIGS Go to Market.”
Market Misperceptions
By , CNN Money, 02/24/2010
MarketMinder's View:
700 risky banks? Sounds like a lot—but in the late 1980s, there were double that number on this “problem” list. Bank failures are expected following an economic downturn, nothing to fear.
Market Misperceptions
By , Times, 02/23/2010
MarketMinder's View:
Oh oh! Another Dr. Doom? This is all the pessimism of disbelief—the belief the world is so bad, there can be nothing good. And anything good must soon morph to bad. This is typical in a bull market—the wall of worry stocks love to climb. For more, see our 1/25/2010 cover story, “Pessimism of Disbelief.”
Sensible Stories
By , Reuters, 02/23/2010
MarketMinder's View: For the long-term investor, the stock market is and will continue to be the best place to yield the greatest returns—don’t begin dumping funds into bonds just because of the perceived notion of safety. For more, see our 1/5/2010, “Bonds in Red.”
Sensible Stories
By , Bloomberg, 02/23/2010
MarketMinder's View: Increasing home prices across the country are a good sign of stabilization in the housing industry. But bear in mind, the economy can recover even if housing prices stay flat or even fall a bit.
Market Misperceptions
By , New York Post, 02/23/2010
MarketMinder's View: “The stock market's biggest problem this year might not be a suddenly weak economy—it could be an economy that looks strong.” Simply put, historically, the start of a tightening cycle doesn’t spell doom. Stocks are overwhelmingly positive 12, 24, even 36 months after the first raise in an overall tightening trend.  For more, see our 02/11/2010 cover story, “The Plan That’s Just a Plan.”
Market Misperceptions
By , The Wall Street Journal, 02/23/2010
MarketMinder's View:
Labeling the 2009 stimulus a mistake is unfounded. We’ve seen tremendous progress in the US economy over the past year in part due to the stimulus injections—a large part of which has yet to be spent. And stocks are up hugely!
Market Misperceptions
By , Seeking Alpha, 02/23/2010
MarketMinder's View: Wrong. Healthy countries typically have a sizable amount of debt. Historically, leverage is a healthy, normal part of an economy, and is in fact a good thing. For more, see our 10/27/2009 cover story, “Not Just Debt Weight.”
Sensible Stories
By , BloggingStocks, 02/23/2010
MarketMinder's View: Folks will grump about this, but keep in mind, it’s $70 billion less than the original bill. Government spending is always inefficient, and there’s no way to estimate how many jobs it will create (if any). But government spending, even done very stupidly, does help get money moving through our economy, which is a positive at this point.
Sensible Stories
By , MSNBC, 02/23/2010
MarketMinder's View: Lots of people don’t like big bonuses—for any number of reasons. But the financial industry provides a vital service to our economy, and big pay is essential to retain top talent. For more, see our 8/6/2009 column, “Hoopla Over Pay.”
Market Misperceptions
By , The Weekly Standard, 02/22/2010
MarketMinder's View:
This is the pessimism of disbelief hard at work—determinedly ignoring the good news and either focusing on the bad or blowing the not-so-bad way out of proportion. See our 01/25/2010 cover story, “Pessimism of Disbelief,” for more.
Sensible Stories
By , CNN Money, 02/22/2010
MarketMinder's View: Unintended consequences hard at work here: Many card issuers have already raised interest rates and cut back on perks—we can’t imagine that’s what legislators intended.
Sensible Stories
By , The Wall Street Journal, 02/22/2010
MarketMinder's View: One reason? Stocks cheer the status quo.
Market Misperceptions
By , The Associated Press, 02/22/2010
MarketMinder's View:
Bringing down the unemployment number will take some time, but that’s to be expected. After all, jobs recover well after the economy does, not the other way around. Fortunately, elevated unemployment shouldn’t hold back stocks, which tend to recover ahead of both the economy and employment.
Sensible Stories
By , The Wall Street Journal, 02/22/2010
MarketMinder's View: Tame inflation means there’s little pressure for the Fed to hastily remove monetary stimulus.
Sensible Stories
By , The Associated Press, 02/22/2010
MarketMinder's View: We’d agree the prospects for the stock market are promising, and a new bear markets doesn’t appear to be on the horizon. But be careful about labeling the stock markets as “stable”—it’s inherently volatile to varying degrees. Always has been. Always will be.
Market Misperceptions
By , MSN Money, 02/22/2010
MarketMinder's View:
Comparisons between the situation in Greece and the US are mostly ridiculous. Their economies, fiscal statuses, and monetary situations are vastly different. We’ve seen many countries run into debt problems (Argentina, the Asian Contagion, etc.) without sinking the US or the world.
Sensible Stories
By , Daily Finance, 02/22/2010
MarketMinder's View: Stocks are nicely up from their lows last March, but stock valuations are still attractive relative to fixed income alternatives.
Sensible Stories
By , CNN Money, 02/22/2010
MarketMinder's View: “Most economists surveyed expect the recovery to be led by businesses.” We agree—in the face of recession, firms delayed capital spending dramatically. Now, the economy is again growing and corporate balance sheets are flush. An upswing in business spending should be an important driver for the economy and stocks. See our 12/17/2009 cover story, “Cash Rich,” for more.
Market Misperceptions
By , The Nation, 02/19/2010
MarketMinder's View: Setting a deadline on when and how many jobs we need to recover won’t solve any problems. The truth is, historically, jobs recover after the economy. Practice the art of patience here.
Market Misperceptions
By , Investor’s Business Daily, 02/19/2010
MarketMinder's View: Again, many fret over a premature exit, but the Fed has many tools at its disposal, and a sudden, extreme tightening is highly unlikely. For more, see our 12/3/2009 cover story, “Exits in Sight.”
Sensible Stories
By , The Wall Street Journal , 02/19/2010
MarketMinder's View: This is largely symbolic and mainly intended to send a signal to the public. Keep in mind, very little lending has happened at the discount window over the last year.
Market Misperceptions
By , The Washington Times, 02/19/2010
MarketMinder's View: It’s a bit hard to argue we’re headed for stagflation when just a few months ago, the worry was deflation, not inflation. Inflation is still historically very low. And it’s normal for unemployment to rise in the early stages of economic recovery.
Sensible Stories
By , CNN Money, 02/19/2010
MarketMinder's View: Following in the footsteps of other recovering markets, the mortgage market is showing positive signs of an upswing.
Sensible Stories
By , Smart Money, 02/19/2010
MarketMinder's View: Corrections are perfectly normal at any completely random time during a bull market. For more, see our 1/14/2010 cover story, “Correct Correction Behavior.”
Market Misperceptions
By , The Economist, 02/19/2010
MarketMinder's View: There’ll be no game of dominos played here. Greece’s problems are just that—its problems. One country (as small as Greece) having problems is normal and won’t likely derail the global recovery. For more, see our 2/5/2010 cover story, “A Big Fat Greek Deficit—Redux.”
Sensible Stories
By , Bloomberg, 02/19/2010
MarketMinder's View: “The Federal Reserve’s decision to raise its discount rate shows that the global recovery is on track and other central banks can afford to keep withdrawing emergency measures.”
Sensible Stories
By , The Wall Street Journal, 02/18/2010
MarketMinder's View: More signs employment improvement is on the way, as is typical. Firms usually won’t hire until they see decided sales improvement, which is why employment lags economic recovery, not the other way around.
Market Misperceptions
By , Financial Times, 02/18/2010
MarketMinder's View:
This is an old, tired argument that comes up at the end of every recession. America is perfectly fine, thanks to our unmatched culture of entrepreneurism and innovation.
Sensible Stories
By , Bloomberg, 02/18/2010
MarketMinder's View: More signs the recovery is on steadier footing.
Sensible Stories
By , Associated Press, 02/18/2010
MarketMinder's View: “Japan’s central bank held interest rates just above zero Thursday and held off on new policy steps.” As we’ve noted, the global “exit strategy” won’t be as fast and as coordinated as the monetary stimulus wave. Nations will act as local conditions warrant.
Sensible Stories
By , The Wall Street Journal, 02/18/2010
MarketMinder's View: It’s popular to bash the stimulus. And certainly, a lot of it was spent stupidly and inefficiently. But here’s one worthwhile innovation that came about that should have positive implications for how states manage their budgets.
Market Misperceptions
By , Los Angeles Times, 02/18/2010
MarketMinder's View:
As many things are very wrong with California, we’d much rather be California, hands down. California has just a few more resources at its disposal to handle its budgetary shortfall—a much lower tax burden (relatively, of course) is just one. For more, see our 2/5/2010 cover story, “A Big Fat Greek Deficit—Redux.”
Market Misperceptions
02/18/2010
MarketMinder's View:
Sure, jobless claims are going to fluctuate week to week. But remember, economic growth begets jobs. Every recovery is jobless until it isn’t any more.
Market Misperceptions
By , BusinessWeek, 02/18/2010
MarketMinder's View:
Fear and nervousness are sweeping the EuroZone about which country will be the next to drop. But keep in mind, the dreaded PIIGS have gotten off a few successful debt auctions now. Some nations will continue to face individual woes, as is normal even in the healthiest of times, but it shouldn’t be a major drag on the world. For more, see today’s cover story, “PIIGS Go to Market.”
Sensible Stories
By , The Wall Street Journal, 02/17/2010
MarketMinder's View: “The problem with selling short—which is really just the problem of selling, magnified—is you have to be right twice.“ You can lose, big, with a shorting tactic, particularly since stocks rise more than fall.
Market Misperceptions
By , Fortune, 02/17/2010
MarketMinder's View:
While gold’s recent boom makes it seem an appealing asset, this hasn’t always been the case. Since the mid-1970s, gold has boomed only about 15% of the time. Trying to time gold has been much more difficult than timing the stock market—itself near impossible. For more, see our 02/12/2010 cover story, “Gold’s Safety Blanket Myth.”
Market Misperceptions
By , BloggingStocks, 02/17/2010
MarketMinder's View:
And if it is? Trying to time market corrections is a fool’s game. Headaches and frustration? Guaranteed. Desired returns? Not so likely.
Market Misperceptions
By , The Independent, 02/17/2010
MarketMinder's View:
The preoccupation with “it’s different this time” is ever-present. The release of recent UK unemployment figures has some fretting a permanent change in employment patterns—toward part-time employment. More likely, this is just a step in the gradual process toward economic and employment recovery.
Sensible Stories
By , CNN Money, 02/17/2010
MarketMinder's View: Regardless of disparate opinions on the effectiveness of the stimulus plan, we can undoubtedly all cheer the US economy’s progress over past year.
Sensible Stories
By , The Wall Street Journal, 02/17/2010
MarketMinder's View: Concerns about how stimulus money has been spent thus far are unwarranted—stimulus plans aren’t designed to be surgical. Rather, focus on the vast funds still to be disbursed and the significant economic tailwinds they will provide ahead.
Sensible Stories
By , The Wall Street Journal, 02/17/2010
MarketMinder's View: While emerging economies kick-started global recovery, economic growth is now spreading through the developed world.
Sensible Stories
By , Carpe Diem, 02/17/2010
MarketMinder's View: Exports of US services have expanded 84% since 2000—making the US number one in global services sales. We agree the best way to encourage continued growth in exports (goods and services) is to focus on reducing trade barriers and pushing through long-pending free trade agreements.
Market Misperceptions
By , Investor’s Business Daily , 02/17/2010
MarketMinder's View:
“If foreigners ever decide en masse they don’t want to hold US debts—kind of like beleaguered Greece today—the US economy would suffer…” Uh, yes—that would be concerning. But comparing concerns over US debt levels to the crisis in Greece? Major stretch. And, remember, Greece’s woes are legitimate, but there are always individual trouble spots even in the healthiest times.
Market Misperceptions
By , Telegraph, 02/16/2010
MarketMinder's View:
Comparing the UK to Greece is hardly an accurate portrayal. But even so, a slower revival (or even a policy mistake or two) in the UK needn’t slow down the larger global recovery.
Sensible Stories
By , The Wall Street Journal, 02/16/2010
MarketMinder's View: The Federal Reserve Bank of New York’s manufacturing index jumped to a reading of “24.9 in February, sharply above [what] the 16 forecasters expected, from 15.9 in January.” More positive economic news surprising to the upside
Sensible Stories
By , Smart Money, 02/16/2010
MarketMinder's View: As is typical in the second phase of new bull markets, this year’s gains will be increasingly driven by fundamentals (not to mention continued stimulus)—hiccups like sovereign debt worries notwithstanding.
Market Misperceptions
By , Seeking Alpha, 02/16/2010
MarketMinder's View:
Anything’s possible. But as the first line of this article readily admits: “Speculating about the level of the market is a pastime for fools and knaves.” Try and limit your forecasting gaze to the next 12 months at most.
Market Misperceptions
By , The Wall Street Journal, 02/16/2010
MarketMinder's View:
Japan, China—it makes little difference. Foreigners will continue to demand US Treasuries for the foreseeable future. And remember, foreigners only hold a fraction of our debt. The lion’s share is held domestically by individuals and our own government.
Market Misperceptions
By , Associated Press, 02/16/2010
MarketMinder's View: Unemployment is an understandably sensitive topic—but a few months do not a trend make. This time always seems different, but never is. Unemployment will be last to turn around.
Sensible Stories
By , The Wall Street Journal, 02/16/2010
MarketMinder's View: The Greek sovereign debt saga continues, though global markets are seemingly turning a blind eye at the moment. It could be the drama is waning or another kick down looms—there’s no sense trying to time either.
Market Misperceptions
By , CNN Money, 02/12/2010
MarketMinder's View: Politicians can legislate all they want, but private industry (instead of politicians) is likely to be more successful at creating jobs.
Market Misperceptions
By , Reuters, 02/12/2010
MarketMinder's View: Funny headline considering this is the first line of the story: “Private-sector economists see the economy growing more quickly than previously forecast in the first three quarters of 2010.” Spinning good news as bad is the pessimism of disbelief at work. For more, see our 01/25/2010 cover story, “Pessimism of Disbelief.”
Sensible Stories
By , MarketWatch, 02/12/2010
MarketMinder's View: “This is no time to bet against the US stock market.” Agreed. Corrections can be sharp and scary, but generally short-lived—trying to time them usually does more harm than good. See our 09/28/2009 cover story, “Shaken, Not Stirred,” for more.
Sensible Stories
By , CNN Money, 02/12/2010
MarketMinder's View: Blistering growth in emerging markets like China is driving the global economy and making these countries’ economies some of the largest in the world.
Market Misperceptions
By , The Wall Street Journal, 02/12/2010
MarketMinder's View: “US exports and imports are both growing sharply again, a sign of economic vitality.” Don’t let trade deficit bashers fool you—this is good news.
Market Misperceptions
By , The Wall Street Journal, 02/12/2010
MarketMinder's View: Yes, growth slowed, but it was positive. Look for emerging markets, not developed economies, to lead the global economic recovery.
Sensible Stories
By , The Star Press, 02/12/2010
MarketMinder's View: Higher employment costs means less employment—especially coming out of a steep recession.
Sensible Stories
By , The Washington Post, 02/12/2010
MarketMinder's View: An insightful commentary on how regulatory uncertainties can do harm.
Sensible Stories
By , BBC , 02/11/2010
MarketMinder's View: Details remain sparse, but the EU continues pledging strong support for Greece generally—it’s in their interest to do so. See our 2/5/2010 cover story, “A Big Fat Greek Deficit—Redux,” for more.
Market Misperceptions
By , The Economist, 02/11/2010
MarketMinder's View: Another great example of the “pessimism of disbelief”—if it’s not sovereign debt, it’s “misleading” economic statistics or clumsy stimulus exit strategies. For more see our 1/25/2010 cover story, “Pessimism of Disbelief.”
Market Misperceptions
By , US News, 02/11/2010
MarketMinder's View: “Trimming outmoded federal programs” would be a great way to reduce the debt. But counterintuitively, increasing taxes can lead to lower government revenues. And in either case, the federal debt remains at historically manageable levels.
Sensible Stories
By , Bloomberg, 02/11/2010
MarketMinder's View: Historically, jobs are one of the last things to turn around, and their recovery may zig and zag a bit—but as a whole, this is better news than widely expected.
Market Misperceptions
By , The New York Times, 02/11/2010
MarketMinder's View: Though higher than in previous months, Chinese inflation is still mostly tame. And Chinese monetary policy remains flexible—neither keeping the pedal to the metal nor slamming on the brakes.
Market Misperceptions
By , CNN Money, 02/11/2010
MarketMinder's View: Maybe so. But there are lots of material differences between the Chinese and Japanese economies—and economic forecasts looking more than a year or so out are fraught with danger of being wrong.
Sensible Stories
By , SmartMoney, 02/10/2010
MarketMinder's View: Agreed. Now is always a good time to get in if you’ve been on the sidelines missing out on great bull market opportunities. We’re heading into the start of the bull market’s second year—historically a great time for stocks.
Market Misperceptions
By , Seeking Alpha, 02/10/2010
MarketMinder's View:
Short answer? No. China is currently one of the largest holders of US debt and will likely remain in that position or close to it for quite some time. It’s in their financial best interest to hold a lot of US debt, and they aren’t going to do themselves economic harm just to teach the US a lesson, or some other silly reason.
Market Misperceptions
By , Motley Fool, 02/10/2010
MarketMinder's View:
Sure, it’s wise to be prepared for a market correction in the midst of a strong bull market but this hardly calls for an end in the upswing—corrections should be expected, not feared. For more, see our 1/14/2010 cover story, “Correct Correction Behavior.”  
Sensible Stories
By , The New York Times, 02/10/2010
MarketMinder's View: Another positive sign showing global recovery continues.
Market Misperceptions
By , MarketWatch, 02/10/2010
MarketMinder's View:
All this applies a lot of emotions to investing—always a bad move. Instead of grieving and being sad, investors should look forward and, as we enter this bull’s second year, know that’s historically a great time to be invested.
Market Misperceptions
By , CNN Money, 02/10/2010
MarketMinder's View:
“Want more proof that the US economy is still in a fragile state? Consider this. People are still holding back on buying burgers, soda and beer.” Maybe people are striving for healthier lifestyles in the new year? Don’t rely on one anecdotal indicator to prove (or disprove) the health of the economy.
Sensible Stories
By , The Wall Street Journal, 02/10/2010
MarketMinder's View: Up to them, their board, and their shareholders if they do or don’t. But basing pay structure on performance seems to be a rational way to handle compensation and help retain top talent. Put another way, you don’t want anyone meddling with how your employer compensates you.
Market Misperceptions
By , Chicago Tribune, 02/10/2010
MarketMinder's View:
Yes, Greece is in a pickle. But Greece is small, about as big relatively in the EU as Massachusetts is in the US. For more, see our 2/5/2010 cover story, “A Big Fat Greek Deficit—Redux.”
Sensible Stories
By , Associated Press, 02/10/2010
MarketMinder's View: As economic recovery continues, details of the government’s stimulus exit plan are emerging. Thus far, the Fed has been committed to moving gradually—expect such measured movements to continue.
Market Misperceptions
By , The New York Times, 02/10/2010
MarketMinder's View: There’s no way for the Fed to say exactly when specific monetary tightening measures should be enacted—the ambiguity of their plans reflects an understanding of the dynamics of a recovering economy. The necessity for gradual policy changes likely outweighs the press’s hunger for clear statements.
Sensible Stories
By , CBS Money Watch, 02/09/2010
MarketMinder's View: PIIGS are causing a ruckus in the global economy lately, but it’s not time to panic. In fact, for investors who’ve been on the sidelines and missed a substantial market move already, now could be a great time to get in.
Market Misperceptions
By , Investor’s Business Daily, 02/09/2010
MarketMinder's View: Yes, debt levels are elevated relative to history. But past similar levels have coincided with periods that were just fine for economic and market growth. For more, see our 10/27/2009 cover story, “Not Just Debt Weight.”
Sensible Stories
By , Bloomberg, 02/09/2010
MarketMinder's View: More signs nations (and regions) aren’t plowing ahead pell-mell with exit strategies, but rather, are assessing conditions and moving forward as appropriate.
Market Misperceptions
By , Investor’s Business Daily, 02/09/2010
MarketMinder's View: It can be easy to get sucked into all the dour news out there, but it’s typical in a bull market for good news to be positioned as bad. For more, see our 2/1/2010 cover story, “This. Is. Good. News.”
Market Misperceptions
By , Barron’s, 02/09/2010
MarketMinder's View: Market corrections are normal, healthy, and expected during a bull market.  Investors should expect this to be a bumpy ride, but the benefits of staying invested are well worth it.
Market Misperceptions
By , CBS Money Watch, 02/09/2010
MarketMinder's View: Bonds’ yields are low right now, so, invest in some bonds? Not sure how that makes much sense. Here’s a number that counts—2. As in, second years of bull markets overwhelmingly see above-average positive returns.
Sensible Stories
By , Charlotte Observer, 02/09/2010
MarketMinder's View: As it should be. Paying to retain top talent is beneficial for both the business and the industry as a whole. For more, see our 8/6/2009 column, “Hoopla Over Pay.”
Sensible Stories
By , Bloomberg, 02/09/2010
MarketMinder's View: “Inventories at US wholesalers unexpectedly fell in December following the biggest increase in more than five years, indicating distributors had trouble keeping up with demand.” A positive sign the ball is in fact rolling again—demand is strong, and firms must focus on restocking—all positives.
Market Misperceptions
By , The Guardian, 02/09/2010
MarketMinder's View: Brouhaha over a widening trade deficit is nothing new and isn’t predictive of anything to come.
Market Misperceptions
By , Investor’s Business Daily, 02/08/2010
MarketMinder's View:
Ah, yes. We’ve heard it all before—good news isn’t “good enough.” This is pessimism of disbelief hard at work. For more, see our 1/25/2010 cover story, “Pessimism of Disbelief.”
Sensible Stories
By , The Wall Street Journal, 02/08/2010
MarketMinder's View: It’s fashionable to bash the dollar, but fears over the greenback losing its position as the world’s reserve currency are unfounded. For more, see our 10/08/2009 cover story, “The Dollar’s Doom Looms?”
Market Misperceptions
By , BBC News, 02/08/2010
MarketMinder's View:
The UK economy, while slow to recover, is in a vastly different situation than Greece and Portugal—simply more differences than similarities.
Market Misperceptions
By , CNN Money, 02/08/2010
MarketMinder's View:
Increasing taxes isn’t a cure-all for the deficit and would likely create more problems than they would solve. Besides, debt, while at large amounts, is still at manageable levels. For more, see our 2/3/2010 cover story, “Budget Blueprint Blues.”
Sensible Stories
By , Bloomberg, 02/08/2010
MarketMinder's View: “The recent slump, in my view, was normal.” We couldn’t agree more. Remaining disciplined and fully invested during this bumpy ride may prove difficult, but as in any second year of a bull market, should prove well worth it.
Sensible Stories
By , The Wall Street Journal, 02/08/2010
MarketMinder's View: Hardly premature as most feared, the Fed is discussing exit strategies to tighten credit as appropriate. For more, see our 12/3/2009 cover story, “Exits in Sight.”
Market Misperceptions
By , The Telegraph, 02/08/2010
MarketMinder's View:
Sure, stocks have been on a bumpy ride, likely tied to Greece’s recent troubles, but in the near term, stocks are volatile—that’s normal. In the best of times, there are individual trouble spots. And at 0.6% of global GDP, Greece’s woes, likely can’t and won’t derail the world.  For more, see our 2/5/2010 cover story, “A Big Fat Greek Deficit—Redux.”
Market Misperceptions
By , New York Post, 02/08/2010
MarketMinder's View:
China doesn’t buy our debt out of the kindness of its collective heart. It does so because it makes vast economic sense. And nothing about those fundamentals are likely to change in the near or even mid-term. 
Sensible Stories
By , Smart Money, 02/08/2010
MarketMinder's View: Sure, it’s just smart investing to brace yourself for a bumpy ride during a bull market— withstanding volatility is a natural part of the game. The important thing is to avoid trying to time the market—it’ll likely result in more harm than good.
Market Misperceptions
By , The Wall Street Journal, 02/05/2010
MarketMinder's View: The human tendency to attribute significance to arbitrary milestones doesn’t make them any more meaningful. Ignore the headlines—10,000 is just another tick mark on a graph. For more, see our 7/24/2009 cover story, “Misleading Milestones.”
Market Misperceptions
By , CNN Money, 02/05/2010
MarketMinder's View: This is a classic example of the pessimism of disbelief—where even good news can be spun into something negative. Job losses are slowing and unemployment will continue to come down as the recovery broadens—sounds like good news to us.
Market Misperceptions
By , The Independent, 02/05/2010
MarketMinder's View: Sovereign debt concerns have rattled markets recently, but snowballing countries’ unique struggles into one growing “contagion” isn’t particularly accurate. In terms of world GDP, these problems are small in scale—no need to disrupt the continuing bull market. For more, see today’s cover story, “A Big Fat Greek Deficit—Redux.”
Sensible Stories
By , The New York Times, 02/05/2010
MarketMinder's View: Don’t get us wrong. We think the budget is a bloated mess of inefficiency. And despite the decidedly political slant to this story, the message is appropriate: Deficit hysteria is unwarranted. A large deficit isn’t necessarily bad for stocks, and historically, big deficits have led to some great returns.
Sensible Stories
By , The New York Times, 02/05/2010
MarketMinder's View: Well, ok, but why don’t we start with signing some FTAs that have been pending now for two, three, even four years now?
Market Misperceptions
By , Investor’s Business Daily, 02/05/2010
MarketMinder's View: Threats of credit downgrades and potential defaults are merely scare tactics—the US dollar is stable as the world’s reserve currency, and appetite for US debt continues apace.
Sensible Stories
By , Telegraph, 02/05/2010
MarketMinder's View: Another positive sign of a country taking gradual steps away from flexible policies no longer needed amid broadening recovery. For more, see our 1/28/2010 cover story, “One Step at a Time.”
Sensible Stories
By , The New York Times, 02/05/2010
MarketMinder's View: The US unemployment rate was lowered from 10% to 9.7% Friday, with news of job gains in manufacturing and among temporary workers. Employment recoveries don’t necessarily happen in straight lines, but an improvement is always good news.
Market Misperceptions
By , SmartMoney, 02/04/2010
MarketMinder's View:
The US-China relationship is complex but ultimately mutually beneficial. Neither country benefits from shutting itself off from the other.
Sensible Stories
By , The New York Times, 02/04/2010
MarketMinder's View: Like many other countries (including the US), the UK is ending liquidity programs it deems no longer needed. Central banks are likely to stay loose for awhile, but the first steps toward tightening show the global economy is indeed recovering.
Market Misperceptions
By , MarketWatch, 02/04/2010
MarketMinder's View:
No single month dictates how stocks will end the year. Period. For more, see our 2/2/2010 cover story, “Flipping the January Argument on Its Head.”
Market Misperceptions
By , Telegraph, 02/04/2010
MarketMinder's View:
The amount of US government debt is stunning to some, but relative to the size of our economy, our public debt is lower than it’s been during past economically vibrant times. For more, see our 11/13/2009 cover story, “Downgraded.”
Sensible Stories
By , CNN Money, 02/04/2010
MarketMinder's View: Further proof consumers are more resilient than most believe. For more, see our 8/17/2009 cover story, “The Report of the Consumer’s Death Is an Exaggeration.”
Sensible Stories
By , Bloomberg , 02/04/2010
MarketMinder's View: Growing domestic demand in China is a positive driver for the global economy as China develops into an important end market.
Market Misperceptions
By , Associated Press, 02/04/2010
MarketMinder's View:
This is normal during a recovery. The economy begets jobs, not vice versa—expect more rocky jobs numbers but take them in stride.
Market Misperceptions
By , Barron’s, 02/04/2010
MarketMinder's View:
Recoveries are laden with ups and downs. Corrections are part of every bull market. Investors should expect corrections but not overreact to them—they’re simply too hard to time and usually over before you know it.
Sensible Stories
By , Boston.com, 02/04/2010
MarketMinder's View: Exceptionally lean firms are getting big earnings boosts from modest increases in revenue. This renewed profitability should lead to renewed business spending, boosting the economy and eventually spurring hiring.
Market Misperceptions
By , The Trumpet, 02/03/2010
MarketMinder's View:
“Many people think America is emerging from a vicious little recession, and will soon be back on the road to prosperity. . . .Yet this time, things may turn out very different.” Ah yes, the four most dangerous investing words “it’s different this time.”
Sensible Stories
By , The Wall Street Journal, 02/03/2010
MarketMinder's View: Evolution and change is a positive for the industry—part of the creative destruction that keeps capital moving efficiently.
Market Misperceptions
By , The Telegraph, 02/03/2010
MarketMinder's View:
Seems like the UK is bent on driving away banking businesses. Oh well, their loss will be another nation’s gain. For more, see our 1/7/2010 cover story, “Bonus Brawl: Round Two.”
Sensible Stories
By , The Wall Street Journal, 02/03/2010
MarketMinder's View: While many feared premature government exits, it looks like indeed “today, much to the Fed’s relief, several of these programs were put to rest and nothing bad happened.” For more, see our 12/3/2009 cover story, “Exits in Sight.”
Market Misperceptions
By , Seeking Alpha, 02/03/2010
MarketMinder's View: It’s irrational to expect that past performance has any impact on future results. Also, forecasting a decade ahead is a fruitless exercise. For more, see our 12/28/2009 cover story, “Fisher Investments Looks Ahead.”
Market Misperceptions
By , Investor’s Business Daily, 02/03/2010
MarketMinder's View:
We agree the budget is huge and stuffed with nonsense. But nothing is set in stone. Sure, as spending increases so does the budget deficit, but that’s not such a bad thing. This year’s deficit will be much bigger than last, but last year’s deficit was bigger than the year before as well— and markets were just fine. For more, see today’s cover story, “Budget Blueprint Blues.”
Sensible Stories
By , Business Week, 02/03/2010
MarketMinder's View: Yes, historically, a healthy economy begets jobs, not the other way around and this time should be no different.
Sensible Stories
By , The Wall Street Journal, 02/03/2010
MarketMinder's View: We have a feeling this cap-and-trade bill may be caput. It looks as though splitting the bill apart will put an end to it, at least this year. This may be an example of politicians continuing to moderate in an election year.
Sensible Stories
By , The Wall Street Journal, 02/02/2010
MarketMinder's View: As impending restrictions on banks are debated, proprietary trading is first on the list for discussion. Until further clarification arises, this has very little effect on the market, but still something worth paying attention to. For more, see our 1/22/2010 cover story, “A Limiting Proposal.”
Sensible Stories
By , Slate, 02/02/2010
MarketMinder's View: “Davos is a trendy place. If you're up, you come here. If you're down, you stay home.” Never put too much stock in what does or doesn’t come out of Davos—it matters very little to the market.
Market Misperceptions
By , SmartMoney, 02/02/2010
MarketMinder's View:
There is simply no statistical link between US deficits and dollar strength. Budget deficits are high worldwide tied to fiscal stimulus, which is appropriate during recession. For more, see our 10/27/2009 cover story, “Not Just Debt Weight.”
Market Misperceptions
By , Daily Finance, 02/02/2010
MarketMinder's View:
Another gloomy forecast from Dr. Doom himself. Ignore. For more, see our 1/25/2010 cover story, “Pessimism of Disbelief.”
Sensible Stories
By , The New York Times, 02/02/2010
MarketMinder's View: Rates hikes in Australia so far reflect improved economic conditions. But don’t expect aggressive monetary tightening in Australia or elsewhere. Central bankers will likely take their time easing off extraordinary accommodation as inflation remains subdued and the global economy isn’t yet fully healed.
Sensible Stories
By , The Wall Street Journal, 02/02/2010
MarketMinder's View: A look at how government persecution of big business does more economic harm than good.
Market Misperceptions
By , Barron’s, 02/02/2010
MarketMinder's View:
This claim has become all too common. Recoveries are paved with bumps and blips, but that doesn’t mean the economy is about to slip into a double-dip.
Market Misperceptions
By , MSN Money, 02/02/2010
MarketMinder's View:
Exactly the wrong way to think about inflation’s impact on investments. Inflation eats away at the real return of any investment, not just stocks. Combating the deleterious impact of inflation is one of the main reasons most investors need stocks’ growth potential in their portfolios.
Market Misperceptions
By , MarketWatch, 02/01/2010
MarketMinder's View:
This puts the horse before the cart. Rising employment is not required for economic recovery. The recovery comes first, then employment. Always. This is the wall of worry bull markets like to climb. See today’s cover story,” This. Is. Good. News.” for more.
Market Misperceptions
By , Smart Money, 02/01/2010
MarketMinder's View:
Sure, a “January jinx” makes for a great headline, but fact is, stock market adages like “As goes January so goes the rest of the year” are silly. And thinking one month can predict stocks’ performance for the entire year is dumb. See our 01/06/2010 cover story, “See You Next January,” for more.
Market Misperceptions
By , Time, 02/01/2010
MarketMinder's View:
We’d be the first to say GDP is wonky and imperfect. But the Happy Planet Index? How does one even go about measuring “life satisfaction” in a consistent manner?
Sensible Stories
By , The Wall Street Journal, 02/01/2010
MarketMinder's View: Yet another sign China continues leading the global economic recovery. See our 12/14/2009 cover story, “Country Matters,” for more.
Sensible Stories
By , Bloomberg, 02/01/2010
MarketMinder's View: No surprise there—in this recent recession, business spending, not consumer spending, dropped off the most. Expect to see more positive news as businesses start spending more. See our 10/01/2009 cover story, “A Sign of Better Days to Come,” for more.
Sensible Stories
By , The New York Times, 02/01/2010
MarketMinder's View: Though we don’t think more stimulus is necessary (the original $787 billion hasn’t even been fully spent yet), here’s an overview of Obama’s “proposed $100 billion stimulus package.”
Sensible Stories
By , The Wall Street Journal, 02/01/2010
MarketMinder's View: “We are witnessing the natural resilience of a free-market economy; a strong rebound is normal at this stage in the business cycle.” Agreed: The steeper and quicker the drop, the faster and steeper the rebound—and stocks lead the way.
Market Misperceptions
By , Real Clear Markets, 02/01/2010
MarketMinder's View:
The official data beg to differ. See today’s cover story, “This. Is. Good. News.” for more.