Home → Fisher Investments MarketMinder Headlines → 05-2008 Archives

Market Misperceptions
By , Times Online, 05/30/2008
MarketMinder's View: Forecasting where prices might be one year from now is hard enough, ten years is just ridiculous.
Market Misperceptions
By , Reuters, 05/30/2008
MarketMinder's View: Of course consumers think inflation is a danger—a few highly visible commodities are on the rise. But so far, market-driven inflation indicators like 10-year US bond yields remain low. Ignore.
Sensible Stories
By , Financial Times, 05/30/2008
MarketMinder's View: Enterprises around the world should be able to recruit as many highly skilled workers as they need, regardless of where they come from.
Market Misperceptions
By , Slate, 05/30/2008
MarketMinder's View: We’ll add this one to our burgeoning list of outlandish economic indicators. See our cover story, “Passive Manipulation” (5/19/2008), for more.
Market Misperceptions
By , Reuters via CNBC, 05/30/2008
MarketMinder's View: We think inflation is currently benign and recession fears overwrought. But it’s best to ignore short-term ups and downs and focus instead on long-term fundamentals.
Sensible Stories
By , The Wall Street Journal, 05/30/2008
MarketMinder's View: After much hullabaloo, the BBA’s investigation of Libor rates revealed nothing sinister and made no changes to its panel of member banks.
Sensible Stories
By , RealClearPolitics, 05/30/2008
MarketMinder's View: Before bowing to politically motivated environmental legislation, we should double- and triple-check the science. Ill-conceived regulation is bad for markets and prosperity.
Sensible Stories
By , The Wall Street Journal, 05/30/2008
MarketMinder's View: Emerging markets continue to outpace expectations and support global growth.
Market Misperceptions
By , Ann Davis and Gregory Meyer, 05/30/2008
MarketMinder's View: Here’s more wasteful, politically motivated probing. A quick glance at an Econ 101 textbook would be more effective—constrained supply and growing demand equal higher prices.
Market Misperceptions
By , The Washington Post, 05/30/2008
MarketMinder's View: There shouldn’t even be a debate here. This is ill-advised government regulation masquerading as a free-market solution.
Sensible Stories
By , Financial Times, 05/30/2008
MarketMinder's View: Free trade in labor is as beneficial as free trade in goods and services. Success in an increasingly global economy hinges on smart trade policies.
Market Misperceptions
By , CNNMoney, 05/29/2008
MarketMinder's View: Yet another headline presuming a correlation between oil and stock prices. While it’s an easy sell, it just ain’t so!
Market Misperceptions
By , The Wall Street Journal, 05/29/2008
MarketMinder's View: Sure, some chemical prices are rising, but that doesn’t mean in aggregate all prices are headed higher. A better indication for the market’s forward-looking expectation for inflation is global long-term bond rates—which remain historically benign.
Market Misperceptions
By , Times Online, 05/29/2008
MarketMinder's View: The more people expect something to happen, the less likely its occurrence.
Sensible Stories
By , The Wall Street Journal, 05/29/2008
MarketMinder's View: We’re not in danger of running out of oil any time soon—not remotely. There are some exporting countries that simply need to relax regulations and allow foreign investment to increase exploration and production.
Sensible Stories
By , Financial Times, 05/29/2008
MarketMinder's View: It can only be of benefit to see continued investment and subsequent economic development in emerging markets such as China.
Sensible Stories
By , The Wall Street Journal, 05/29/2008
MarketMinder's View: We’re all for blaming Congress! While no one’s better at instigating imbalances than politicians, supply and demand ultimately determine prices.
Sensible Stories
By , Financial Times, 05/29/2008
MarketMinder's View: “Confirming Hayek, systems that give more liberty to individuals—featuring both more economic and political freedoms—are associated with much less poverty.” Good ‘ol Friedrich was spot on.
Sensible Stories
By , Bloomberg, 05/29/2008
MarketMinder's View: As expected, first quarter GDP figures were revised upward to 0.9%. Not gangbusters but still beating too-dour expectations—again.
Market Misperceptions
By , Reuters, 05/29/2008
MarketMinder's View: Weren’t Iceland’s woes supposed to bring down the Eastern Bloc? Like Iceland, Vietnam’s economy is too small a domino to budge major global economies.
Market Misperceptions
By , BusinessWeek, 05/29/2008
MarketMinder's View: Folks continue to anticipate more trouble in Financials. We agree Financials won’t get much of a dead-cat bounce but don’t extrapolate that to broader markets, which we feel overall will do just fine.
Sensible Stories
By , Financial Times, 05/29/2008
MarketMinder's View: “Europe should be working with the US to promote new technologies—not finding protectionist gimmicks to apply new duties to these products.” We agree!
Sensible Stories
By , RealClearMarkets.com, 05/28/2008
MarketMinder's View: “Countries don't get rich by staying isolated. Those that embrace trade and foreign investment acquire know-how and technologies, can buy advanced products abroad and are forced to improve their competitiveness.” We agree. Globalization is scape-goated for many ills, but in reality spurs the global economy, reducing poverty and creating wealth. All good things.
Market Misperceptions
By , MSNBC.com, 05/28/2008
MarketMinder's View: Orders were down, but the real news is, excluding transportation, they rose by 2.5% in April—the biggest gain in 9 months. Either way, monthly numbers like this don’t mean much on their own.
Sensible Stories
By , The Wall Street Journal, 05/28/2008
MarketMinder's View: Thank you, Michigan, for being the lab that proves supply side economics.
Sensible Stories
By , RealClearMarkets.com, 05/28/2008
MarketMinder's View: Don’t fret the income gap. Despite sad anecdotal stories otherwise, in the NFL and on Main Street the rich get richer, but so do most other people.
Market Misperceptions
By , CNNMoney.com, 05/28/2008
MarketMinder's View: Beware anecdotal scare stories. They usually prey on emotion—no one likes feeling pinched—and tend to be bare on facts. For instance, 2003 was a gangbusters year for stocks, not a bear market as this article says.
Market Misperceptions
By , Washington Post, 05/28/2008
MarketMinder's View: This is near satire! Economic growth is not a mirage. The preponderance of data today suggests continued growth, not a recession or economic doom.
Sensible Stories
By , Financial Times, 05/28/2008
MarketMinder's View: Whilst reform is not necessarily a bad thing, we should be wary of the unintended consequences of too hastily introduced regulations.
Sensible Stories
By , Bloomberg, 05/28/2008
MarketMinder's View: Cash-based mergers reduce stock supply, putting upward pressure on share prices. We’ll drink to that.
Market Misperceptions
By , Times Online, 05/28/2008
MarketMinder's View: So much bad news, none of it new. Rising global demand for both oil and food are hardly indicative of economic collapse.
Market Misperceptions
By , New York Times, 05/28/2008
MarketMinder's View: Vacant homes are out there, but this story lacks perspective. An increase to “nearly 3%” from “less than 2%” is hardly worth getting panicky over.
Sensible Stories
By , Briefing.com, 05/28/2008
MarketMinder's View: We’ll know for sure tomorrow, and a minor revision either direction doesn’t much matter. Either way, even a mildly positive quarter will exceed most investors’ too-dour expectations.
Market Misperceptions
By , The Wall Street Journal, 05/27/2008
MarketMinder's View: Housing troubles continue to dominate headlines. But avoid relying on overcomplicated, faulty, and relatively new indexes. And remember, housing makes up less than 5% of GDP.
Sensible Stories
By , The Wall Street Journal, 05/27/2008
MarketMinder's View: May it never again be doubted: Free trade really CAN solve problems!
Market Misperceptions
By , The Times, 05/27/2008
MarketMinder's View: We’re all for cutting taxes, but global will likely keep prices firm for some time.
Sensible Stories
By , Café Hayek, 05/27/2008
MarketMinder's View: “No other economic system but capitalism has lifted billions of people so decisively out of poverty.” We agree. See our cover story, “Born to Underachieve” (5/24/2008), for more.
Sensible Stories
By , Briefing.com, 05/27/2008
MarketMinder's View: We won’t know the latest GDP figure until it’s released later this week, but the data suggests growth is stronger than most folks appreciate.
Market Misperceptions
By , National Post, 05/27/2008
MarketMinder's View: While we agree high oil prices are a function of increased global demand, we believe it’s best to let free markets spur innovation.
Market Misperceptions
By , 05/27/2008
MarketMinder's View: Is the fact we’ve been through a period of strong economic growth really a "disturbing parallel" with the '70s? Or how about the 27% inflation of 1975? We’re not even close.
Market Misperceptions
By , BBC News, 05/27/2008
MarketMinder's View: The Pawn Shop Indicator? Beware funky metrics like this—they’re just as misleading as monthly economic data. See our recent cover story, “Passive Manipulation” (5/19/2008), for more.
Sensible Stories
By , The Wall Street Journal, 05/27/2008
MarketMinder's View: Free trade in any industry is always of net benefit.
Market Misperceptions
By , The Independent, 05/27/2008
MarketMinder's View: Interesting analogy, but don’t think central banks are losing their religion. Monitoring inflation is difficult, but central banks have become wiser and more innovative with time, collective experience and new technology.
Market Misperceptions
By , Bloomberg, 05/27/2008
MarketMinder's View: Confidence is at best a coincident or lagging indicator and isn’t predictive.
Market Misperceptions
By , CNNMoney.com, 05/27/2008
MarketMinder's View: Actually, we think it’s getting easier and easier to deny the economy is in recession. It’s still growing!
Market Misperceptions
By , CNBC, 05/27/2008
MarketMinder's View: Ugh, more probing. Ratings aren’t meant to guarantee anything—they’re a risk-assessing tool. If they’re inaccurate, people will stop using them.
Sensible Stories
By , The Wall Street Journal, 05/27/2008
MarketMinder's View: More often than not, folks change behaviors to better their lives not the environment.
Sensible Stories
By , The Wall Street Journal, 05/23/2008
MarketMinder's View: If we were really in a recession, it would be tough for Transports to be as strong as they have been recently, particularly given higher energy costs.
Sensible Stories
By , MSNBC.com, 05/23/2008
MarketMinder's View: 6%?! That’s incredibly low by historical standards.
Sensible Stories
By , Pittsburgh Tribune-Review, 05/23/2008
MarketMinder's View: Love or hate the green movement—your choice—we agree “the complexity of our modern economy is far, far greater than most people realize.”
Market Misperceptions
By , The Wall Street Journal, 05/23/2008
MarketMinder's View: We don’t deny there are continued problems in the housing market. But the common misperception is these problems have the power to take down the global economy—they don’t.
Market Misperceptions
By , The Wall Street Journal, 05/23/2008
MarketMinder's View: While currency may play a role in higher oil, the primary cause is relatively fixed supply and surging demand.
Sensible Stories
By , Financial Times, 05/23/2008
MarketMinder's View: Indeed.
Sensible Stories
By , International Herald Tribune, 05/23/2008
MarketMinder's View: It’s nice to see Italy shelving outdated regulations in favor of market-driven energy alternatives.
Market Misperceptions
By , The Economist, 05/23/2008
MarketMinder's View: Folks never tire of the old stagflation story—but long-term interest rates remain low globally, non-US growth is healthy, and US growth continues to be resilient.
Sensible Stories
By , Bloomberg.com, 05/23/2008
MarketMinder's View: An interesting look at how market pressures, not legislation, spur innovation. Higher prices make new technology and research viable—whatever energy’s future, it will be driven by inventive entrepreneurs, not Washington bureaucrats.
Market Misperceptions
By , Reuters, 05/23/2008
MarketMinder's View: We remember hearing this same story when oil was at $50.
Market Misperceptions
By , Forbes, 05/23/2008
MarketMinder's View: Those who enjoy crying “Armageddon” likely have a slew of fearful articles on the back-burner for release at the slightest market jitters. Fortunately, we’re seeing fewer and fewer as the days go by. See our cover story, “Kicking the Habit,” 5/22/2008 for more.
Market Misperceptions
By , Reuters, 05/23/2008
MarketMinder's View: Constrict supply to protest high oil prices? Giving them the benefit of the doubt, this sounds more like piracy to us.
Market Misperceptions
By , Bloomberg, 05/22/2008
MarketMinder's View: To say globalization causes inflation is incorrect. Inflation is a result of money supply—pure and simple. And anyway, global competition puts downward pressure on prices for many goods. For more, see Wednesday’s cover story, “Slow Road, No Inflation?”
Sensible Stories
By , New York Times, 05/22/2008
MarketMinder's View: It’s not just coal-producing nations that will benefit from high oil prices. As oil prices rise so too does our appetite to invest in alternative and cheaper sources of energy, whatever they might be.
Market Misperceptions
By , CNNMoney, 05/22/2008
MarketMinder's View: Tapped out consumers return! Don’t fall for the jazz about a “near-zero savings rate.” Our official savings rate is intensely faulty and doesn’t remotely reflect reality.
Sensible Stories
By , Financial Times, 05/22/2008
MarketMinder's View: With mortgage being a dirty word these days in the US, it’s great to see that in some parts of the world they remember that mortgages help facilitate home ownership and wealth creation.
Market Misperceptions
By , CNNMoney, 05/22/2008
MarketMinder's View: Egad! Another distraught take on oil supply and prices. Expect prices to remain firm, thanks to a growing global economy and simple supply and demand factors—not because things are so bleak.
Market Misperceptions
By , Australia Herald Sun, 05/22/2008
MarketMinder's View: We’ve had rising oil prices for the last five years, a period during which the global economy has been very strong.
Sensible Stories
By , Forbes.com, 05/22/2008
MarketMinder's View: “Stocks are ridiculously cheap compared with long-term Treasury rates.” Indeed they are.
Sensible Stories
By , Bloomberg, 05/22/2008
MarketMinder's View: Free trade between countries helps mitigate economic slowdowns and provides fuel for global growth.
Market Misperceptions
By , MSNBC.com, 05/22/2008
MarketMinder's View: And right before a long weekend, this is too much to take! Luckily, we don’t think barbecue prices are much of a leading indicator.
Sensible Stories
By , Telegraph, 05/22/2008
MarketMinder's View: This is alarming talk. An “EU Super Regulator” is a super-dumb idea and would not only pose a threat to London’s position as a financial powerhouse, but also economic growth across the globe.
Market Misperceptions
By , The Washington Post, 05/22/2008
MarketMinder's View: “The world has changed because of a few snap decisions made one weekend in March.” That’s a pretty bold statement, and dare we say a wrong one. We feel the Fed’s action was an appropriate, if not innovative, solution to Bear Stearns’ issues.
Sensible Stories
By , The Wall Street Journal, 05/22/2008
MarketMinder's View: As expected, the farm bill was vetoed, which looks sure to be overridden in Congress. The bill ultimately doesn’t amount to much, but highlights how politicians from both sides of the aisle morph to gain popularity and votes. For more, see last Friday’s cover story, “Not So Green Acres.”
Market Misperceptions
By , USA Today, 05/22/2008
MarketMinder's View: Using oil prices as the scapegoat for market turbulence is an easy sell—but don’t buy it! Stock prices and oil prices have almost no correlation historically.
Sensible Stories
By , The Motley Fool, 05/22/2008
MarketMinder's View: “Trying to predict and time the market is like a dog chasing its tail—you get dizzy without getting anywhere.” So true.
Sensible Stories
By , Times Online, 05/21/2008
MarketMinder's View: We always love to see less trade friction (tariffs).
Market Misperceptions
By , New York Times, 05/21/2008
MarketMinder's View: One-day movements in the stock market are not reliable indicators of long-term economic conditons.
Sensible Stories
By , Bloomberg, 05/21/2008
MarketMinder's View: Dropping trade barriers results in fewer price disruptions overall—always a welcome market development.
Sensible Stories
By , Briefing.com, 05/21/2008
MarketMinder's View: Contrary to what politicians might have you believe, Big Oil is not gouging Americans.
Sensible Stories
By , The Wall Street Journal, 05/21/2008
MarketMinder's View: Legislative efforts won’t succeed in propping up house prices beyond their market values, and likely only lead to unintended, negative consequences.
Market Misperceptions
By , CNNMoney, 05/21/2008
MarketMinder's View: More misplaced fears of a return to the “stagflation” of the ‘70s. Unlike the period evoked, economic growth remains positive and inflation pressures remain benign.
Sensible Stories
By , The Wall Street Journal, 05/21/2008
MarketMinder's View: Gains for private-label goods are a sign of subtle shifts in consumer behavior, not a lasting food crisis or other Armageddon scenario.
Market Misperceptions
By , Boston.com, 05/21/2008
MarketMinder's View: Why not sue the sky for rainy days next? We prefer less legislative action, but bills like these (which are unlikely to pass anyway) will keep lawmakers distracted from more dangerous meddling.
Market Misperceptions
By , Savannahnow.com, 05/21/2008
MarketMinder's View: A drop-off of less than 1 % in holiday travelers isn’t much of an alteration. Higher gas prices are annoying, but so far haven’t lead to a significant change in behavior or spending.
Market Misperceptions
By , CNBC.com, 05/21/2008
MarketMinder's View: It can be tempting to react to short-term market gyrations. Don’t do it—attempts to time short-term moves only hamper investment returns over time. Stick to a longer-term focused discipline.
Sensible Stories
By , FT.com, 05/21/2008
MarketMinder's View: Not much. As Churchill once said: “The inherent vice of capitalism is the unequal sharing of the blessings. The inherent blessing of socialism is the equal sharing of misery.” We agree.
Dueling Headlines
By , The Financial Times, 05/20/2008
MarketMinder's View: We’re not surprised to see conflicting interpretations of last month’s PPI data. Monthly numbers can easily be manipulated to fit either side of an argument.
Market Misperceptions
By , MarketWatch, 05/20/2008
MarketMinder's View: Another example of too-dour sentiment plaguing investors. Fundamentals are far stronger than gloomy outlooks suggest.
Sensible Stories
By , The Wall Street Journal, 05/20/2008
MarketMinder's View: Breaking down a barrier like this is good for the global economy.
Sensible Stories
By , International Business Daily, 05/20/2008
MarketMinder's View: Some historical perspective is useful when interpreting today’s economic conditions.
Market Misperceptions
By , CNNMoney.com, 05/20/2008
MarketMinder's View: Congress is focused on “speculators,” ignoring that today’s commodity prices are more likely a function of “strong demand from emerging economies, geo-political tensions, supply disruptions, unfavorable weather and increased production of ethanol.”
Market Misperceptions
By , 05/20/2008
MarketMinder's View: What about cutting subsidies altogether? Remember, markets hate redistribution of wealth, and food subsidies are regular causes of market dislocation and inefficiency.
Sensible Stories
By , Fundmastery, 05/20/2008
MarketMinder's View: Sure, some economic indicators are slowing, but many remain robust. The big picture suggests fundamentals are a lot stronger than today’s dour mood.
Sensible Stories
By , The Independent, 05/20/2008
MarketMinder's View: “We cannot allow protectionism to become the dominant mood because that will affect every industry and it will hold back the development of the world.” Well said, Gordon!
Sensible Stories
By , Bloomberg, 05/20/2008
MarketMinder's View: Interest rate spreads have eased globally lately. While it’s impossible to say if the credit “crisis” is truly over, it’s clearer each day the widely feared Armageddon scenario is a sham.
Sensible Stories
By , Wall Street Journal, 05/20/2008
MarketMinder's View: If revenue doesn’t change when you cut income tax, why not just cut it further?
Market Misperceptions
By , The Independent, 05/20/2008
MarketMinder's View: With this trend starting last year maybe we should be using this data as a predictive indicator of impending financial doom. Or maybe not. Linking the abandonment of pets to the credit crunch is absolutely ridiculous.
Sensible Stories
By , The Washington Post, 05/20/2008
MarketMinder's View: “The Supreme Court yesterday ruled that states may offer special tax breaks for investing in their municipal bonds, a holding that averts what might have been a calamitous upheaval in the bond market.” Tax alterations can change the relative value of one asset class over another. Thus, it’s important to stay abreast of this issue.
Market Misperceptions
By , CNNMoney.com, 05/20/2008
MarketMinder's View: Why is there an energy shortage in China? Because their Communist government mandated price freezes, so companies cut production since they aren’t profitable.
Market Misperceptions
By , The Financial Times, 05/20/2008
MarketMinder's View: We agree protectionist rhetoric is unfounded, but calling for a global tax hike as a partial “solution” to the ills of free trade is beyond ridiculous.
Market Misperceptions
By , Business Week, 05/19/2008
MarketMinder's View: Beware premature claims the US is in recession—data so far shows we’re not. Also, remember the world matters more than any single country, and the world continues to grow.
Market Misperceptions
By , MarketWatch, 05/19/2008
MarketMinder's View: We think government meddling in football is pretty silly too, but it keeps them from doing any real harm. This is typical election year nonsense and should prove bullish for stocks.
Market Misperceptions
By , CNN.com, 05/19/2008
MarketMinder's View: The doom and gloom knows no bounds—this provides a pretty low hurdle rate for markets.
Market Misperceptions
By , Business Week, 05/19/2008
MarketMinder's View: Folks demanding the government “do something” about credit cards forget: Regulation often comes with unintended, negative consequences.
Sensible Stories
By , The American, 05/19/2008
MarketMinder's View: An interesting look at how demographics and government policies may impede Western Europe’s future wealth.
Sensible Stories
By , Times Online, 05/19/2008
MarketMinder's View: Encouraging foreign investment has benefited the US and the UK; there is no reason why the same benefits could not be felt in Japan. We’d love to see a less protectionist stance there---and everywhere for that matter.
Sensible Stories
By , The Wall Street Journal, 05/19/2008
MarketMinder's View: It shouldn’t take a disaster to remind us all why increased global prosperity benefits both developing and developed nations alike.
Sensible Stories
By , Bloomberg Commentary, 05/19/2008
MarketMinder's View: Investors snapping up new share issuances prove firms can still raise needed capital, but caution is warranted—share supply growth isn’t a positive if it starts outpacing demand.
Sensible Stories
By , The Wall Street Journal, 05/19/2008
MarketMinder's View: America has grown and changed over the past two hundred plus years and will continue to do so—market-driven evolution is grand.
Sensible Stories
By , The New York Times, 05/19/2008
MarketMinder's View: It’s still a mystery why people want government to do more, not less.
Market Misperceptions
By , Barron’s, 05/19/2008
MarketMinder's View: We’re not sure how positive GDP data and a historically low unemployment rate translate to a stagnant economy, but then again, we’re not unjustifiably dour.
Market Misperceptions
By , Financial Times, 05/19/2008
MarketMinder's View: Europeans fear a strong euro as much as Americans fear a weak dollar. They’re both wrong—currencies don’t dictate market direction.
Sensible Stories
By , The Washington Post, 05/19/2008
MarketMinder's View: Investors fretting food shortages should focus on the real villain—silly, interventionist government policies around the world that disrupt free market functions. See our cover story, “Not So Green Acres,” (5/16/2008) for more.
Market Misperceptions
By , Reuters, 05/16/2008
MarketMinder's View: As we’ve often noted, consumer confidence measures are lagging or at best coincident indicators. For instance, the survey indicates short-term inflation expectations are currently as high as the early 80s—a time when inflation began falling, not the other way around.
Market Misperceptions
By , Financial Times, 05/16/2008
MarketMinder's View: This is just silly. A “summit” won’t move prices—only supply and demand can do that.
Sensible Stories
By , Bloomberg.com, 05/16/2008
MarketMinder's View: Central banks continue taking appropriate steps in innovating new facilities to provide liquidity.
Market Misperceptions
By , Associated Press via MSNBC.com, 05/16/2008
MarketMinder's View: Fannie Mae’s “effort to help resuscitate the flagging mortgage market” illustrates a common misperception that markets need bailing out.
Sensible Stories
By , Bloomberg.com, 05/16/2008
MarketMinder's View: Notable global GDP numbers continue exceeding too-dour expectations. As global GDP grows, the US economy will most likely be dragged along with it—not the other way around.
Sensible Stories
By , BusinessWeek, 05/16/2008
MarketMinder's View: Instead of the widely-publicized “credit crunch,” recent events are more likely a reallocation of credit to big corporations with sterling credit ratings—M&A activity should continue but shift from lower to higher quality borrowers.
Market Misperceptions
By , The Wall Street Journal, 05/16/2008
MarketMinder's View: No one likes a stock bubble bursting (nor do we see one looming)—but increased intervention is not the answer. More often than not, external regulators introduce more price dislocations than they remove.
Sensible Stories
By , Times Online, 05/16/2008
MarketMinder's View: It's trendy to be bearish right now---don’t follow the fad.
Market Misperceptions
By , The Telegraph, 05/16/2008
MarketMinder's View: What can we say, sensationalist headlines sell papers.
Market Misperceptions
By , Associated Press via MSNBC.com, 05/16/2008
MarketMinder's View: Though this could be a good sign for the besieged housing market, we believe it unwise to make any wide conclusions based on short-term data.
Sensible Stories
By , Bloomberg, 05/15/2008
MarketMinder's View: “Credit crunch” fears may be here to stay, but that doesn’t mean there was ever a legitimate “crunch.” It seems to us the Fed’s innovative actions were appropriate throughout the peak of the hype.
Market Misperceptions
By , BBC News, 05/15/2008
MarketMinder's View: Sure, no one wants to catch mad cow disease, but five-year-old rumors of a contagion shouldn’t kill this trade deal. Remember, markets like free trade, not protectionist sentiment.
Market Misperceptions
By , The International Herald Tribune, 05/15/2008
MarketMinder's View: The California Contagion? We don’t buy it. Just as one country doesn’t wag the global economy dog, one state doesn’t lead the US economy.
Sensible Stories
By , The Wall Street Journal, 05/15/2008
MarketMinder's View: The development and integration of any global markets should be cheered.
Sensible Stories
By , The American, 05/15/2008
MarketMinder's View: People are concerned about SWFs, “but the predominant reaction at this point should be what is emblazoned on the cover of The Hitchhiker’s Guide to the Galaxy: ‘DON’T PANIC.’” SWFs are merely disintermediators, and good ones at that.
Market Misperceptions
By , Bloomberg, 05/15/2008
MarketMinder's View: “Seventy-six percent of Americans think the government should do something to halt the falling dollar.” In other news, 76% of Americans could use a reminder that currency moves are cyclical, aren’t inherently good or bad and don’t predict stock returns.
Sensible Stories
By , Bloomberg, 05/15/2008
MarketMinder's View: So much for a tanking global economy! Eurozone GDP growth beat expectations in Q1, a sign the global economy remains robust.
Market Misperceptions
By , The Telegraph, 05/15/2008
MarketMinder's View: The 1970s references just won’t die, but we still don’t think “stagflation” is a viable concern. Don’t let fear-mongerers scare you out of the market.
Market Misperceptions
By , CNNMoney.com, 05/15/2008
MarketMinder's View: Nice news! But, in our view, portrayed inaccurately as a major impending negative. America’s current financial situation is nothing like Japan in the 1990s.
Sensible Stories
By , Financial Post, 05/15/2008
MarketMinder's View: Hey, we like polar bears. But this ostensibly needless act won’t help polar bears—whose numbers are booming, not dwindling—and may interfere with oil supply, hurting markets in the long run.
Sensible Stories
By , International Herald Tribune, 05/15/2008
MarketMinder's View: As the article illustrates, subsidies—and the imbalances they cause—are bad for global markets.
Market Misperceptions
By , Bloomberg, 05/15/2008
MarketMinder's View: Monthly numbers are volatile, backward-looking and on their own, not predictive. Don’t fret short-term swings like this.
Market Misperceptions
By , The Wall Street Journal, 05/15/2008
MarketMinder's View: Simply changing currency flavor isn’t the silver bullet for long-term financial stability. Sound monetary policy, free trade, less regulation and a more diversified economy are better long-term solutions, in Iceland and everywhere.
Sensible Stories
By , The Wall Street Journal, 05/15/2008
MarketMinder's View: Pretty much what we’ve been saying all along—there’s plenty of cheap, ready liquidity for larger, better-rated firms.
Market Misperceptions
By , The Financial Times, 05/15/2008
MarketMinder's View: How typical to find a bad news headline hiding data that shows the strength of the jobs market compared with this time last year – a time when no one was concerned with jobs data.
Market Misperceptions
By , The Wall Street Journal, 05/14/2008
MarketMinder's View: In order to have a u-turn, one would actually have to turn around. But the fact is we’ve yet to have even a single quarter of negative GDP growth.
Market Misperceptions
By , Bloomberg, 05/14/2008
MarketMinder's View: Foreclosures are up significantly, but they’re coming off extremely low levels. This monthly number amounts to only 1 in 519 households, or 0.2%.
Market Misperceptions
By , The Independent, 05/14/2008
MarketMinder's View: We’ve been hearing stories of Stagflation for almost 6 months.
Sensible Stories
By , Fortune, 05/14/2008
MarketMinder's View: A positive feature of today’s high energy prices is the creation of a powerful economic incentives to innovate and search for alternatives.
Market Misperceptions
By , CNNMoney.com., 05/14/2008
MarketMinder's View: A silly statistic with no demonstrated predictive power for stocks or the economy. Ignore.
Sensible Stories
By , Real Clear Markets, 05/14/2008
MarketMinder's View: A sensible and fact-driven analysis of current conditions.
Sensible Stories
By , The Wall Street Journal, 05/14/2008
MarketMinder's View: Abundant pessimism is not in line with what’s actually going on with the economy
Sensible Stories
By , Bloomberg, 05/14/2008
MarketMinder's View: After all the financial turmoil of the last year, buyers are coming back to the CDO table.
Market Misperceptions
By , Bloomberg, 05/14/2008
MarketMinder's View: More evidence analyst ratings should be taken with a grain of salt. See our 04/23/08 story, “Analyzing Analysts’ Analysis,” for more.
Sensible Stories
By , Bloomberg, 05/14/2008
MarketMinder's View: Despite headlines bemoaning high food and gas prices, overall inflation remains benign.
Sensible Stories
By , The Wall Street Journal, 05/14/2008
MarketMinder's View: The economy isn’t going gangbusters, but it’s better than most folks realize.
Sensible Stories
By , Bloomberg, 05/14/2008
MarketMinder's View: It won’t be all sunshine, but doomsayers’ flimsily supported theories should be recognized for what they are: Fear-mongering. And fear-mongering is most often bullish.
Market Misperceptions
By , The Washington Post, 05/14/2008
MarketMinder's View: Consumer confidence is at best a coincident indicator. Despite higher prices for food and energy, prices overall remain benign.
Sensible Stories
By , The Wall Street Journal, 05/13/2008
MarketMinder's View: The more trade barriers we remove, the more we prosper.
Market Misperceptions
By , The Wall Street Journal, 05/13/2008
MarketMinder's View: Legislative knee-jerk reactions to quell rising oil prices are merely an attempt to pacify constituents. Surprised? Neither are we. We don’t see a halt having a material impact either way.
Sensible Stories
By , Reuters, 05/13/2008
MarketMinder's View: Take monthly reports with a grain of salt, but it’s clear consumers aren’t as supine as headlines scream.
Sensible Stories
By , Real Clear Politics, 05/13/2008
MarketMinder's View: “No, supply and demand is not too ‘complex.’ It is just not very emotionally satisfying.” Hence folks’ belief certain things impact them more than they actually do. Read more in today’s cover story, “Getting Gassed.”
Sensible Stories
By , Real Clear Markets, 05/13/2008
MarketMinder's View: And politicians should leave both alone!
Market Misperceptions
By , Telegraph, 05/13/2008
MarketMinder's View: Governments punishing capitalists for their success is a terrible thing. Let the free markets dole out the consequences of excess risk—they’re better at doing it anyway.
Dueling Headlines
By , Associated Press, 05/13/2008
MarketMinder's View: Hmmm. Somehow, we’re not surprised to see conflicting headlines on the heels of a Fed pronouncement.
Market Misperceptions
By , The Wall Street Journal, 05/13/2008
MarketMinder's View: The Bank of England better watch out! If they don’t stop inflation soon, they’ll be forced to—gasp—write a letter! Maybe we can write a letter encouraging their government to use a market-based inflation indicator over CPI.
Market Misperceptions
By , The Wall Street Journal, 05/13/2008
MarketMinder's View: The “Kiwi plan” to fight global warming—get this—encourages farmers to “persuade” their cows and sheep to “emit” fewer carbon dioxide emissions. Why do we have the feeling the legislation, if it passes (pun intended), will have unintended negative consequences?
Sensible Stories
By , Associated Press, 05/13/2008
MarketMinder's View: Whaddya know? Businesses want to move where it’s cheaper for them to do business. An important lesson for uber-high-tax California, and a warning in general to America, which has one of the developed world’s highest corporate tax rates.
Market Misperceptions
By , CNNMoney, 05/13/2008
MarketMinder's View: We’re not sure why this is news—27% of people over 45 are delaying retirement? Think about that for a few moments. Really? Is today that slow of a news day?
Market Misperceptions
By , The Telegraph, 05/13/2008
MarketMinder's View: Do you really believe that currency movements are a reflection of the strength of housing markets?
Sensible Stories
By , CNNMoney, 05/13/2008
MarketMinder's View: Yup. There’s cash in them thar companies!
Sensible Stories
By , Bloomberg, 05/13/2008
MarketMinder's View: “What's destroyed in the process of suppressing free markets is often invisible but is nonetheless extremely valuable.” Valuable indeed.
Sensible Stories
By , The Wall Street Journal, 05/12/2008
MarketMinder's View: “We prefer an energy policy that lets markets determine which energy source dominates.” We couldn’t agree more.
Sensible Stories
By , Financial Times, 05/12/2008
MarketMinder's View: “Food security is best safeguarded by global free trade in agricultural products and an end to all production, export and income supports for the agricultural sector.” Agreed.
Market Misperceptions
By , The Telegraph, 05/12/2008
MarketMinder's View: This is about as doomsday a piece as you could read. Strangely though, there’s very little factual information on the state of the economy. We wonder why?
Market Misperceptions
By , Barron’s, 05/12/2008
MarketMinder's View: Our takeaway? “In the past seven weeks, investment-grade companies have issued $183.8 billion of new debt…” Even as lending standards tighten, a boom is going on in investment grade corporate debt—indicating a credit reallocation rather than a “crunch.”
Market Misperceptions
By , Investor’s Business Daily, 05/12/2008
MarketMinder's View: We agree a trade deficit is not a negative for the US economy, but ignore the dour sentiment about recent US trade data—both imports and exports increased in March.
Market Misperceptions
By , Barron’s, 05/12/2008
MarketMinder's View: We prefer the Yogi Berra quote, “We made too many wrong mistakes,” as a reminder overly dour sentiment based on illogical relationships (i.e. comparing stock market to housing market) can lead investors astray.
Sensible Stories
By , Telegraph, 05/12/2008
MarketMinder's View: Governments at all levels should take heed: Globalization means companies can move their businesses where the tax environment is most advantageous (i.e. low).
Sensible Stories
By , The Independent, 05/12/2008
MarketMinder's View: The troubles experienced by financials have not been transmitted across the whole economy and that’s partly due to the so-called credit crunch being overstated.
Sensible Stories
By , Telegraph, 05/09/2008
MarketMinder's View: Shocking news: Fears of increased corporate taxes drive businesses away!
Market Misperceptions
By , The Wall Street Journal, 05/09/2008
MarketMinder's View: Be wary of connecting fluctuations in food and fuel prices to overall inflation. Ultimately, inflation is a monetary phenomenon.
Sensible Stories
By , The Wall Street Journal, 05/09/2008
MarketMinder's View: If the so called “credit crunch” was such a problem, wouldn’t investment banks be using this more, not less?
Sensible Stories
By , Bloomberg.com, 05/09/2008
MarketMinder's View: We’re not against ethanol at all—we’d just like for the market to decide whether the corn-based product is worthwhile rather than through government mandates, subsidies and tariffs against outside competition.
Sensible Stories
By , The Wall Street Journal, 05/09/2008
MarketMinder's View: Deals, not fire sales, signal a market stronger than most expect.
Market Misperceptions
By , Bloomberg, 05/09/2008
MarketMinder's View: Whether the deficit narrows or grows, what matters is “exports were still the second-highest on record.” Global trade remains strong.
Sensible Stories
By , NPR.org, 05/09/2008
MarketMinder's View: Tax-paying, permits-abiding taco trucks should be allowed to run their businesses without government interference! And isn’t competition an inherent part of doing business?
Market Misperceptions
By , The New York Times, 05/09/2008
MarketMinder's View: This whole situation is based on “if’s.” Ignore overly dour scenarios envisioning panic-stricken bank runs.
Sensible Stories
By , The Desert Sun, 05/09/2008
MarketMinder's View: International trade is “good for American consumers and producers, as well as affording a boost to emerging nations, which have accelerated their industrial evolution because of it.” Amen.
Market Misperceptions
By , The Washington Post, 05/09/2008
MarketMinder's View: Such legislation could potentially hurt the economy more than it helps. But with the threat of a presidential veto and still pending Senate approval, this bill as it stands has little chance of becoming law.
Sensible Stories
By , Smart Money, 05/09/2008
MarketMinder's View: Don’t expect meaningful legislation from Congress during an election year.
Market Misperceptions
By , International Herald Tribune, 05/09/2008
MarketMinder's View: Many trade restrictions, under the façade of “health issues,” are really based on economics. Trade bans stifle competition and hurt consumers.
Market Misperceptions
By , Times Online, 05/09/2008
MarketMinder's View: You cannot seriously or accurately suggest what impact today’s events will have in three years time.
Sensible Stories
By , The Wall Street Journal, 05/08/2008
MarketMinder's View: The pace of growth was slower, but 7% growth is nothing to scoff at—despite all the talk of Americans being tapped out, their nest eggs just keep growing!
Market Misperceptions
By , Financial Times, 05/08/2008
MarketMinder's View: Wow! This article would have you believe US transport infrastructure is no better than that of a third world country. It’s a big stretch to suggest potholes will stifle commerce and economic growth in the US, even if they do make it hard to dial a cell phone while in a taxi.
Sensible Stories
By , CNNMoney.com, 05/08/2008
MarketMinder's View: Shocked? Don’t be—free markets have a good track record for eventually sorting out imbalances.
Market Misperceptions
By , BusinessWeek, 05/08/2008
MarketMinder's View: Many folks will view an increase in IPOs as a positive. Though recent new share issuances have been relatively light, folks should keep in mind that, all else being equal, an aggressive increase in net share supply isn’t a good thing for markets.
Market Misperceptions
By , CNNMoney, 05/08/2008
MarketMinder's View: This is great. Analysts are contorting at the thought of positive data. When folks see nothing but the negative and deny the positive, it’s usually bullish for stocks.
Market Misperceptions
By , The Wall Street Journal, 05/08/2008
MarketMinder's View: This is a development in capital markets worth understanding. It’s not a positive, not a negative. It just is, and it will be with us. Don’t fear it. Understand it.
Sensible Stories
By , Briefing.com, 05/08/2008
MarketMinder's View: “The rising cost of gasoline gets everyone fired up so, naturally, in this election year some politicians are calling for a gas tax holiday. However, what we really need a break from are the half-baked reports on the impact of rising gas prices.” Good stuff.
Market Misperceptions
By , CNNMoney, 05/08/2008
MarketMinder's View: We like to call this confirmation bias. If oil prices really drove stock prices, wouldn’t stocks be down over the past five years? But we know that stocks are up big over that period and so is oil. Oil does not drive stock prices—even if a single day's movement might make you think so.
Sensible Stories
By , The Telegraph, 05/08/2008
MarketMinder's View: It’s so simple, just raise taxes and you’ll see both vanish!
Sensible Stories
By , The Wall Street Journal, 05/08/2008
MarketMinder's View: Whatever the flaws might be, for those readers in college, say, 40 years ago, remember when computers were the size of small car only they weighed more? That anyone could have a computer this light and easy to use would’ve been unfathomable then, and probably would’ve sounded ludicrous only 10 to 15 years ago—we love innovation.
Sensible Stories
By , National Post, 05/08/2008
MarketMinder's View: “Xenophobia is infecting industrial policy, from Germany to China, in the name of national security, job protection and other lame excuses.” Lame excuses indeed.
Sensible Stories
By , Reuters, 05/08/2008
MarketMinder's View: It’s good to see Japanese companies opening up more to foreign investment. Their poison pill mindset has only been to their detriment.
Sensible Stories
By , International Herald Tribune, 05/08/2008
MarketMinder's View: Good things happen when countries sack dictators and embrace free markets.
Market Misperceptions
By , Financial Post, 05/08/2008
MarketMinder's View: “Xenophobia is infecting industrial policy, from Germany to China, in the name of national security, job protection and other lame excuses.” Lame excuses indeed.
Sensible Stories
By , The Wall Street Journal, 05/07/2008
MarketMinder's View: Productivity is a largely unsung hero of recent years and an important reason aggregate inflation remains benign.
Market Misperceptions
By , CNNMoney.com, 05/07/2008
MarketMinder's View: Food prices are rising, but they’ve trailed increases in purchasing power for decades in the US.
Sensible Stories
By , Real Clear Markets., 05/07/2008
MarketMinder's View: A level-headed discussion of food prices in the US.
Sensible Stories
By , The Wall Street Journal, 05/07/2008
MarketMinder's View: Is government meddling in free markets ever the answer? Fuhgedaboutit.
Market Misperceptions
By , Reuters, 05/07/2008
MarketMinder's View: A weekly increase from 6.03% to 6.06%? C’mon.
Sensible Stories
By , Briefing.com, 05/07/2008
MarketMinder's View: Foreclosures have picked up, but the numbers need to be kept in perspective. The vast majority of homeowners are in no danger of foreclosure.
Market Misperceptions
By , Financial Week, 05/07/2008
MarketMinder's View: Wait, should you fear a weak dollar or a strong dollar? Actually, neither: Currency strength has no meaningful correlation with stock returns over time.
Sensible Stories
By , The Wall Street Journal, 05/07/2008
MarketMinder's View: When governments choose isolation from free markets, turbulence and decline are virtually inevitable.
Market Misperceptions
By , Bloomberg, 05/07/2008
MarketMinder's View: When governments raise taxes, people leave (and take their tax revenues with them).
Sensible Stories
By , The Wall Street Journal, 05/07/2008
MarketMinder's View: Shocking that a government-engineered plan to make fuel out of corn isn’t working out that well.
Sensible Stories
By , The New York Times, 05/07/2008
MarketMinder's View: Our perception of inflation is driven as much by emotion as it is hard evidence.
Market Misperceptions
By , CNNMoney, 05/07/2008
MarketMinder's View: Is anyone quite surprised that what politicians say during the campaign might not entirely add up? The good thing about this is that legislators are more focused on the election than doing anything of any significance that would negatively impact markets.
Market Misperceptions
By , CNNMoney.com, 05/07/2008
MarketMinder's View: Sentiment measures, particularly unscientific studies like this, are at best coincident indicators—they aren’t predictive for stocks or anything else. Ignore them.
Sensible Stories
By , The Wall Street Journal, 05/07/2008
MarketMinder's View: We’ll see what happens—but we’d cheer the removal of barriers between two of the world’s largest economies.
Sensible Stories
By , Times Online, 05/07/2008
MarketMinder's View: The doomsdayers are going to be so disappointed.
Market Misperceptions
By , The Independent, 05/06/2008
MarketMinder's View: It’s way too early to be making a prediction on the outlook for 2009.
Sensible Stories
By , The Wall Street Journal, 05/06/2008
MarketMinder's View: Competition leading to lower prices—where have we witnessed this before? Oh right, pretty much everywhere.
Sensible Stories
By , Financial Times, 05/06/2008
MarketMinder's View: We’d love to see the growing ease with which companies can relocate to more benign environments lead to a decrease in corporate taxes globally.
Market Misperceptions
By , The Times, 05/06/2008
MarketMinder's View: We like literary references and suggestions the US economy is resilient, but we whole-heartedly disagree American consumers are tapped out and dependent on home values for spending power. Historically, there’s little link between home value and spending.
Market Misperceptions
By , The American Prospect, 05/06/2008
MarketMinder's View: “The downturn now beginning will be unusual and potentially tragic.” Eh? What’s so tragic about a still-growing economy? Such dour sentiment is misplaced.
Market Misperceptions
By , International Herald Tribune, 05/06/2008
MarketMinder's View: Delay emissions trading? We have a better idea: Scrap the cap and trade system for good. The artificial price increases it brings aren’t good for markets.
Sensible Stories
By , Briefing.com, 05/06/2008
MarketMinder's View: It’s too early to tell what the official Q2 GDP will be, but the data suggests recession fears remain overwrought.
Market Misperceptions
By , The Independent, 05/06/2008
MarketMinder's View: People decry increased income inequality, but they ignore that even those on the lower end of the economic wealth spectrum are wealthier than they used to be. Don’t be swayed by populist rhetoric—globalization is good, for people and for stocks!
Market Misperceptions
By , MarketWatch, 05/06/2008
MarketMinder's View: Sure, rising food prices aren’t fun, but if you take away the futures market, “you lose pretty important market signals.” Government meddling in capital markets is never the answer.
Sensible Stories
By , Forbes, 05/06/2008
MarketMinder's View: “Erecting arbitrary barriers to investing by sovereign funds would be counterproductive for the host economies and damaging to the world economy at large.” Well said!
Sensible Stories
By , MarketWatch, 05/06/2008
MarketMinder's View: At the end of the day, the demand curve—not governments—is the best “regulator” of oil prices.
Sensible Stories
By , The Wall Street Journal, 05/06/2008
MarketMinder's View: The USSR… er, Russia… gets a new President on Wednesday—one whose rhetoric supports greater economic liberalization. It will be interesting to see if action matches the rhetoric.
Sensible Stories
By , Bloomberg, 05/06/2008
MarketMinder's View: “Egypt has spent the past four years cutting taxes, slashing regulations, taking money-losing state-owned companies private and luring foreign investment.” The result? Its stock market expanded 1,340%. Stocks love capitalism!
Sensible Stories
By , International Business Times, 05/06/2008
MarketMinder's View: Phew. It was a dumb idea anyway.
Market Misperceptions
By , CNBC, 05/06/2008
MarketMinder's View: Pundits continue clinging to the idea of a recession though mounting evidence suggests otherwise. Ignore.
Sensible Stories
By , The Wall Street Journal, 05/06/2008
MarketMinder's View: We’re not about to say we agree, but talk about a positive surprise for the markets if this were true! Considering the worst-case scenario has already been discounted into stocks, anything but that is bullish.
Sensible Stories
By , BBC News, 05/06/2008
MarketMinder's View: The prospect of Scottish independence is a looming uncertainty in the UK, and certainly a geopolitical development worth keeping an eye on. Remember, markets often react to political uncertainties.
Market Misperceptions
By , Bloomberg, 05/05/2008
MarketMinder's View: We expect to see plenty more “sucker’s rally” fears in the weeks to come. This is bullish for stocks as they climb the wall of worry.
Market Misperceptions
By , CNNMoney.com, 05/05/2008
MarketMinder's View: Given gas prices’ steady rise of late, it’s not surprising many believe it must continue. But there’s no way to predict where oil and gas prices will go, nor does it matter as much as folks think—today’s rising energy costs impact consumers’ free cash far less than in decades past.
Sensible Stories
By , The Wall Street Journal, 05/05/2008
MarketMinder's View: Another great example of government intervention gone bad. Political fiddling in financial markets results in more harm than good.
Sensible Stories
By , The Times, 05/05/2008
MarketMinder's View: We believe recent market activity a correction, not a bear market. However, this article interestingly highlights how current conditions are forcing some prominent doomsayers to backpedal.
Sensible Stories
By , Bloomberg, 05/05/2008
MarketMinder's View: Of interest is not that the index signaled growth or contraction (we have little faith in such indicators), but how soundly it beat too dour economist expectations.
Market Misperceptions
By , BusinessWeek, 05/05/2008
MarketMinder's View: Weak or strong, the dollar doesn’t predict stock performance.
Market Misperceptions
By , Washington Post, 05/05/2008
MarketMinder's View: China is still an emerging market and subject to volatility on both the up and the down side. But diversified global investors can still reap the benefits without taking on too much risk.
Sensible Stories
By , The Wall Street Journal, 05/05/2008
MarketMinder's View: Heaven forbid students argue with teachers! This is a good reminder to think critically and actively question widely accepted ideas.
Sensible Stories
By , The Wall Street Journal, 05/02/2008
MarketMinder's View: Geopolitical news matter for global stocks; it’s vital to stay informed on news across the pond and not just the US.
Sensible Stories
By , MarketWatch, 05/02/2008
MarketMinder's View: Some of the most often referenced economic indicators are imprecise at best. As always, critically question such data before making vital decisions.
Market Misperceptions
By , Bloomberg.com, 05/02/2008
MarketMinder's View: We don’t put much stock in monthly numbers, good or bad. But this is another indication a severe, prolonged recession seems unlikely at this point.
Market Misperceptions
By , The AP via The Wall Street Journal, 05/02/2008
MarketMinder's View: A rice cartel? OREC? Seriously? Free markets allow supply to meet demand and set prices fairly—policy hindering this freedom will only distort prices further.
Market Misperceptions
By , The Wall Street Journal, 05/02/2008
MarketMinder's View: The day a slowdown in Icelandic off-roading indicates anything of global importance is the day their glaciers extinguish the eternal fires burning below.
Sensible Stories
By , Washington Times, 05/02/2008
MarketMinder's View: Indeed—even the most well-intended government policies tend to have adverse side effects.
Sensible Stories
By , The New York Times, 05/02/2008
MarketMinder's View: The more barriers that globalization rips down, the better for everyone.
Sensible Stories
By , Bloomberg.com, 05/02/2008
MarketMinder's View: Unlike fine wine, bad policies don’t get better with age.
Sensible Stories
By , Bloomberg.com, 05/02/2008
MarketMinder's View: This is nowhere near a vote, let alone implementation. But we view an increased regulatory response to recent Financials trouble a risk worth watching.
Sensible Stories
By , The New York Times, 05/02/2008
MarketMinder's View: That’s because the drumbeat of bad economic news contains nothing the markets didn’t already know.
Sensible Stories
By , Reuters via CNBC, 05/02/2008
MarketMinder's View: The Fed continues providing liquidity through its innovative and evolutionary new programs.
Market Misperceptions
By , The Telegraph, 05/02/2008
MarketMinder's View: Expect some persistent fear-mongering for a while yet. If it’s not the “credit crunch,” it’s a looming “economic battering.” Remember, bull markets climb a wall of worry.
Market Misperceptions
By , Times Online, 05/02/2008
MarketMinder's View: Economic growth of 1.8% doesn’t really signal the end of the world, does it?
Market Misperceptions
By , The AP via CNBC, 05/02/2008
MarketMinder's View: Good news, perhaps. But take these numbers with a grain of salt—employment calculations are over-complicated, myopic and subject to wide revisions.
Market Misperceptions
By , The Telegraph, 05/01/2008
MarketMinder's View: Nothing at all—do you really think you can build a sound investment strategy around what has happened over the last 4 days? We didn’t think so.
Sensible Stories
By , Bloomberg, 05/01/2008
MarketMinder's View: Revised Japanese labor laws are encouraging companies to hire more full-time workers. A nice development amid Japan’s reduced economic growth expectations.
Dueling Headlines
By , Times Online, 05/01/2008
MarketMinder's View: No wonder people are confused!
Sensible Stories
By , The Wall Street Journal, 05/01/2008
MarketMinder's View: A labor shortage could pose problems for India if employers don’t raise wages or find ways to innovate. It’s likely they’ll do one, the other, or both. Either way, the issue is worth keeping an eye on.
Market Misperceptions
By , Times Online, 05/01/2008
MarketMinder's View: Good news regarding the supposed credit crunch is now actually bad news—go figure!
Sensible Stories
By , US News & World Report, 05/01/2008
MarketMinder's View: “Before you declare a recession, as many economic pundits have, shouldn't the economy, well, actually recess a bit—if only for a quarter?” Well said.
Market Misperceptions
By , Associated Press, 05/01/2008
MarketMinder's View: A nation we do little business with anyway won’t be doing oil transactions in the US dollar? Can’t see how this has much consequence for the US economy.
Sensible Stories
By , Chicago Tribune, 05/01/2008
MarketMinder's View: Don’t expect this debate to go away anytime soon. To us, it’s clear ethanol mandates are the usual government-intervention mess.
Sensible Stories
By , BBC, 05/01/2008
MarketMinder's View: Just as in the US, overwrought fears are likely to exaggerate the impact credit market troubles will have on the broader British economy.
Market Misperceptions
By , Financial Times, 05/01/2008
MarketMinder's View: Folks should always keep in mind the potential for more reward usually involves more risk, regardless of the investment.
Market Misperceptions
By , The Times, 05/01/2008
MarketMinder's View: There’s a lot more to rising oil prices than speculation. Supply and demand factors should keep energy prices firm in the foreseeable future.
Market Misperceptions
By , Kiplinger, 05/01/2008
MarketMinder's View: Denial: It’s not just a river in Egypt. Some folks seem to want a recession and quickly dismiss the initial GDP figures. For more, read our 5/01/2008 cover story, “Phantom Storms.”
Sensible Stories
By , Briefing.com, 05/01/2008
MarketMinder's View: “Recession is a term that applies to the entire economy. Recession comes from the word ‘recede.’ It means DOWN. First quarter real GDP was UP.” Well said.