Home → Fisher Investments MarketMinder Headlines → 07-2009 Archives

Sensible Stories
By , The Wall Street Journal , 07/31/2009
MarketMinder's View: We expect politicians will continue moderating as they begin thinking about 2010 midterms elections.
Market Misperceptions
By , Bloomberg, 07/31/2009
MarketMinder's View:
Maybe it will be, but it’s far too early to tell—much of America’s stimulus has yet to be spent. Demanding further stimulus plans is a touch premature. For more, see our 07/08/2009 cover story, “A Confused Chorus.”
Sensible Stories
By , Reuters, 07/31/2009
MarketMinder's View: This is likely a great deal for the investors, but banks won’t be interested in participating. Why sell assets they know will be worth more if held to maturity, as they always intended?
Market Misperceptions
By , Bloomberg, 07/31/2009
MarketMinder's View: All true, but remember the market leads economic recovery, and employment improvement typically comes last. The market prices in the recovery and growth begets jobs, not the other way around.
Sensible Stories
By , The Wall Street Journal, 07/31/2009
MarketMinder's View: While GDP slowing 1% isn’t, on its face, close to great, it’s certainly better than what most were expecting—what matters to stocks is expectations relative to reality.
Sensible Stories
By , The New York Times, 07/31/2009
MarketMinder's View: Before engaging in a campaign to cap compensation (which inevitably leads to distortions and an exodus of talent from an industry that needs it) recall “there is little evidence that big pay—or the incentives connected to it—caused the financial train wreck that sent the world into recession.”
Market Misperceptions
By , Bloomberg, 07/31/2009
MarketMinder's View:
A lie? Sure, the ways firms report earnings may seem a bit illogical at times, but it hardly seems like they are “hiding” anything since this analysis was possible in the first place.
Market Misperceptions
By , The Washington Post, 07/31/2009
MarketMinder's View: Seems like “high frequency trading” is the media’s next bugaboo. Why anyone should fear technological advances that make trading more efficient and lowers costs is beyond us. For more, see our 07/29/2009 cover story, “Statutory Sunshine.”
Sensible Stories
By , The Wall Street Journal, 07/30/2009
MarketMinder's View: Simply: Not likely. “If the Fed is to determine the price of the overall housing market, or stock market, or oil market, how is that different in principle from having it determine the price of every individual item at Wal-Mart, or the salary of every individual who works there?”
Market Misperceptions
By , CNN Money, 07/30/2009
MarketMinder's View:
Folks who fear budget deficits don’t know their history. Stocks typically have above-average returns following periods of high deficits.
Sensible Stories
By , The Washington Post, 07/30/2009
MarketMinder's View: More profitability means more innovation and more jobs. And agreed—the government’s penchant for punishing profitable companies helps no one.
Market Misperceptions
By , Kiplinger, 07/30/2009
MarketMinder's View:
Every recovery has been a jobless recovery—until it isn’t anymore. Stock markets lead the economy and job markets at the end of a bear, not the other way around. So look to stocks to recover long before jobs do.
Sensible Stories
By , Reuters, 07/30/2009
MarketMinder's View: Further evidence of global governments’ willingness to provide stimulus as necessary.
Sensible Stories
By , Bloomberg, 07/30/2009
MarketMinder's View: Beware too much government regulation. Bonuses should not be limited or eradicated—they are necessary to attract and retain top talent, an asset that makes a company profitable in the long run.
Market Misperceptions
By , The Chicago Tribune, 07/30/2009
MarketMinder's View:
Now that folks are grudgingly admitting a recovery could be happening, the new spin is the recovery will be terrible. This is typical during a new bull market. 
Market Misperceptions
By , Associated Press, 07/30/2009
MarketMinder's View:
In good times and bad, jobless claims numbers are wonky. Stocks will most likely surge well ahead of unemployment improvement.
Sensible Stories
By , Bloomberg, 07/30/2009
MarketMinder's View: More evidence fears no one will want America’s debt are baseless and silly.
Sensible Stories
07/30/2009
MarketMinder's View: A positive—cash is finding its way back into stock markets.
Sensible Stories
By , The Wall Street Journal, 07/29/2009
MarketMinder's View: “There is no ‘right’ [price] level other than the one the market gives us.” Amen.
Sensible Stories
By , The Wall Street Journal, 07/29/2009
MarketMinder's View: A startlingly transparent look at the inefficiencies of our federal government.
Market Misperceptions
By , The New York Times, 07/29/2009
MarketMinder's View:
Regulating oil trading is likely to reduce liquidity in this market, increasing costs for legitimate hedgers. For more, see our 7/10/2009 cover story, “Oil! (Again).”
Market Misperceptions
By , Barron’s, 07/29/2009
MarketMinder's View:
Banks, like many businesses these days, are looking for ways to cut costs. That’s part of the economic cycle and doesn’t foretell further gloom ahead. For more, see our 7/28/2009 cover story, “Hard-Earned Profits.”
Market Misperceptions
By , Visual Economics, 07/29/2009
MarketMinder's View:
This worst-case-scenario visual depiction of what could potentially tank the economy is overly simplistic and dramatic. These concerns are already widely known to investors, and, thus, reflected in stock prices.
Sensible Stories
By , The Washington Post, 07/29/2009
MarketMinder's View: China is well positioned to lead the global economic recovery. For more, see our 7/17/2009 cover story, “The Year of the Ox.”
Market Misperceptions
By , The New York Times, 07/29/2009
MarketMinder's View:
Electronic trading techniques aren’t to blame for the bear market. In fact, algorithmic trading can help increase market liquidity and decrease trading costs. For more, see today’s cover story, “Statutory Sunshine.”
Sensible Stories
By , Associated Press, 07/29/2009
MarketMinder's View: Recognizing China’s growing role as a global economic leader, this emphasis on eliminating protectionism and boosting consumer demand will likely benefit all involved.
Market Misperceptions
By , The Washington Times, 07/28/2009
MarketMinder's View:
Decreasing global trade isn’t at all surprising given the global economic malaise. But trade isn’t in perpetual decline. As the global economy recovers, so will global trade.
Market Misperceptions
By , The Wall Street Journal, 07/28/2009
MarketMinder's View:
Inhibiting free trade could hinder economic recovery. Any hints of protectionism are worth keeping an eye on.
Market Misperceptions
By , SmartMoney, 07/28/2009
MarketMinder's View:
We think so, but such arbitrary milestones are meaningless. For more see our 07/24/2009 cover story, “Misleading Milestones.”
Market Misperceptions
By , The Wall Street Journal, 07/28/2009
MarketMinder's View:
Simply comparing the worst of this recession to those in the past ignores the positive factors likely to spur a recovery—like record amounts of monetary and fiscal stimulus.
Sensible Stories
By , Financial Times, 07/28/2009
MarketMinder's View: Doomsayers warn the ecomomy might never recover, but global economies are incredibly resilient.
Sensible Stories
By , Blogging Stocks, 07/28/2009
MarketMinder's View: Don’t sit around and wait for Dr. Doom to give an “all clear sign.” You’d likely be waiting quite some time and doing so could cause you to miss out on even more upside to come.
Sensible Stories
By , Telegraph, 07/28/2009
MarketMinder's View: As we’ve said here many times—stocks discount future earnings and economic activity. They don’t look backward.
Market Misperceptions
By , RTT News, 07/28/2009
MarketMinder's View:
Backward-looking monthly surveys usually aren’t good market indicators because they reflect what has happened, not what will happen.
Sensible Stories
By , MarketWatch, 07/28/2009
MarketMinder's View: Bans on short selling could inhibit price discovery and reduce market liquidity. But this rule simply prolongs already banned naked short selling and is largely benign.
Market Misperceptions
By , MarketWatch, 07/28/2009
MarketMinder's View:
Another outright panic like we saw last fall is exceptionally unlikely. Already we’re seeing those fears were unwarranted.
Sensible Stories
By , The Wall Street Journal, 07/28/2009
MarketMinder's View: “Several hundred million people have risen from poverty in the last generation thanks to expanding trade, and the world doesn’t need a reversal thanks to old-fashioned protectionism dressed in green drag.” Amen.
Market Misperceptions
By , USA Today, 07/27/2009
MarketMinder's View: A few months ago, economists couldn’t see any recovery at all, let alone a slow one. We wonder what changed their minds—and if they’ll change again in a few months.
Market Misperceptions
By , The New York Times, 07/27/2009
MarketMinder's View:
Risk is an inherent part of free markets. Risk won’t go away because a firm has salary caps. Further, compensation is a powerful way to attract and retain top talent—something firms need right now. We want banks to be more healthy, not less, right?
Sensible Stories
By , Barron’s, 07/27/2009
MarketMinder's View: That plenty of stuff is still trucking is one sign the economy should soon be too.
Market Misperceptions
By , Daily Finance, 07/27/2009
MarketMinder's View: Whether it is or not—and the economy may limp on for a bit longer—we won’t know until well after the fact. But one thing’s for certain, economic growth spurs jobs, not the other way around. Pretty much always been that way.
Market Misperceptions
By , The Wall Street Journal, 07/27/2009
MarketMinder's View: Why? It’s not surprising to see emerging markets bouncing strongly since they fell badly during the bear’s late stages. See our 07/17/2009 cover story, “The Year of the Ox,” for more.
Sensible Stories
By , The New Republic, 07/27/2009
MarketMinder's View: And why shouldn’t they? The latest Treasury auctions prove, there’s still a healthy appetite for US debt. See our 07/14/2009 cover story, “A Dose of Reality,” for more.
Sensible Stories
By , Bloomberg, 07/27/2009
MarketMinder's View: Further evidence credit markets are unfreezing. See our 05/14/2009 cover story, “The Crooked Road to Recovery,” for more.
Market Misperceptions
By , Barron’s, 07/27/2009
MarketMinder's View: Volatility is a normal part of a healthy, functioning market—long-term investors shouldn’t react to it. See our 07/13/2009 cover story, “This Is Thriller Time,” for more.
Market Misperceptions
By , 24/7 Wall St., 07/24/2009
MarketMinder's View: Bullish or bearish, such long-term forecasts are always hyperbolic. See today’s cover story, “Misleading Milestones,” for more on useless index milestones.
Market Misperceptions
By , The New York Times, 07/24/2009
MarketMinder's View:
True, pockets of global financial markets remain weak. But the notion global finance as we know it is finished is simply absurd.
Sensible Stories
By , The Washington Post, 07/24/2009
MarketMinder's View: We may not agree with every proposal in this article, but they definitely have one thing right: “Protectionism is economically self-destructive.”
Market Misperceptions
By , The Wall Street Journal, 07/24/2009
MarketMinder's View: Economic cycles tend to drive budget balances—as long as policy doesn’t interfere, it’s likely economic recovery will help California and other states get back on the road toward fiscal stability. For more, see our 7/16/2009 cover story, “The Tin State.”
Market Misperceptions
By , The Wall Street Journal, 07/24/2009
MarketMinder's View:
GDP figures are inherently backward-looking—they don’t say much about where the economy is headed, just where it’s already been. Thus, they make poor tools for stock forecasting.
Sensible Stories
By , The Washington Post, 07/24/2009
MarketMinder's View: A string of positive earnings announcements over the past couple weeks has bolstered the case for a recovery in the fore.
Sensible Stories
By , Scientific American, 07/23/2009
MarketMinder's View: Need more proof markets are better stock and economic predictors than your smartest economist? Read this article.
Sensible Stories
By , The Independent, 07/23/2009
MarketMinder's View: “Executives signaled that they fear losing important members of staff [to rivals}, which could make it harder for the company to claw its way back to profitability.” Precisely why all the hoopla surrounding raises and bonuses is ridiculous.
Market Misperceptions
By , Investor’s Business Daily, 07/23/2009
MarketMinder's View:
We disagree. Japan’s stagnation had much to do with the slow response of its central bank and government—we feel US fiscal and monetary stimulus has been swift and appropriate thus far, and reining in stimulus before recovery is fully underway would be premature.
Market Misperceptions
By , The Washington Post, 07/23/2009
MarketMinder's View:
Jobs numbers have always lagged economic and stock market recoveries. This time should be no different. See our 11/04/2008 cover story, “The Ultimate Leading Economic Indicator,” for more.
Market Misperceptions
By , MSN Money, 07/23/2009
MarketMinder's View:
Ironic that journalists are slowly and begrudgingly admitting the possibility of a recovery, but still find ways to point out negatives, real or imagined. A recovery is good, and it’s normal for employment numbers to lag.
Sensible Stories
By , Financial Times, 07/23/2009
MarketMinder's View: Encouraging that companies can restructure, recover, and become profitable once again without significant government intervention.
Market Misperceptions
By , The Washington Post, 07/23/2009
MarketMinder's View:
Nothing wrong with paying more to retain talent—doing so will likely help company profitability, not hurt it.
Sensible Stories
By , The Wall Street Journal, 07/23/2009
MarketMinder's View: California appears to be slowly realizing not raising taxes is the smart move—businesses are more likely to stay in the state, keeping more people employed and generating more tax revenue. See our 07/16/2009 cover story, “A Tin State,” for more.
Market Misperceptions
By , Barron’s Online, 07/22/2009
MarketMinder's View: We’d have to disagree that stocks are “stuck in a range.” The stock market is due for a big recovery, and it’s likely we’re in the midst of it.
Sensible Stories
By , The Motley Fool, 07/22/2009
MarketMinder's View: We agree. Information overload is a bigger danger to investors than ever before.
Market Misperceptions
By , The American, 07/22/2009
MarketMinder's View:
The first stimulus failed? News to us. Premature ruling on the effects of the current stimulus plan should be kept at a minimum—at least until the full amount has been doled out. For more, see our 07/08/2009 cover story, “A Confused Chorus.”
Sensible Stories
By , MSN Money, 07/22/2009
MarketMinder's View: Whether or not emerging markets are in fact the leaders, signs of improvement abound. We’re definitely moving in the right direction toward a global recovery, and that’s bullish.
Market Misperceptions
By , The New Republic, 07/22/2009
MarketMinder's View: An analysis of a “smart” person’s portfolio versus that of a “dumb” person? Nonsense.  Healthy portfolios in the long run require more discipline than genius.
Sensible Stories
By , Money Magazine, 07/22/2009
MarketMinder's View: While we can’t agree with everything here, it’s true rash investing decisions based on emotion does more harm than good.
Sensible Stories
By , Bloomberg, 07/21/2009
MarketMinder's View: Fed actions, although far from perfect, have put the economy on more stable footing.
Market Misperceptions
By , The New York Times, 07/21/2009
MarketMinder's View:
There are many, many reasons to shun cap and trade. The potential for market manipulation is far down the list.
Market Misperceptions
By , The Globe and Mail, 07/21/2009
MarketMinder's View:
Unemployment and falling wage cycles aren’t perpetual. They’ll rebound alongside the economy with a bit of a lag.
Market Misperceptions
By , MSNBC, 07/21/2009
MarketMinder's View:
Claiming potential needs of nearly $24 trillion dramatically misrepresents the state of the financial system.
Market Misperceptions
By , Investor’s Business Daily , 07/21/2009
MarketMinder's View:
Whether or not politicos are sweeping data under the rug, investors shouldn’t fear budget deficits.
Sensible Stories
By , Financial Times, 07/21/2009
MarketMinder's View: State lawmakers reached an agreement on the California budget Monday night. Efforts to shrink the deficit include new borrowing and spending cuts.
Market Misperceptions
By , The New Republic, 07/21/2009
MarketMinder's View:
An increase in taxes will likely have unintended negative consequences.
Sensible Stories
By , Financial Times, 07/21/2009
MarketMinder's View: Thawing credit markets are a positive sign for the global economy.
Sensible Stories
By , The Wall Street Journal, 07/21/2009
MarketMinder's View: CIT’s funding deal may still prove inadequate, but that the private sector stepped in when feds wouldn’t is a positive sign. See our 07/21/09 cover story, “CIT’s Private Reprieve,” for more.
Sensible Stories
By , The Wall Street Journal, 07/20/2009
MarketMinder's View: Just because the US is being silly about trade doesn’t mean the whole world is. Freer trade is a great net positive, even when the US is slow to the party.
Sensible Stories
By , The New York Times, 07/20/2009
MarketMinder's View: Companies looking to grow will grow globally—inevitable in today’s increasingly global world, and Chinese companies are no exception.
Sensible Stories
By , The Wall Street Journal, 07/20/2009
MarketMinder's View: This is encouraging, as it proves private investors are willing to lend Financials money.
Market Misperceptions
By , The Guardian, 07/20/2009
MarketMinder's View: The stock market has actually rallied since the last swine flu headline scare—it’s important to note flus and colds and fevers aren't good stock market predictors. See our 04/28/2009 cover story, “This Little Piggy,” for more
Sensible Stories
By , NPR, 07/20/2009
MarketMinder's View: Raising the minimum wage will likely hurt the very people it’s meant to help because of increased costs for employers, who will be forced to cut back elsewhere—including additional jobs. However, it's true this will have little impact since there are relatively few workers earning minimum wage for extended periods.
Market Misperceptions
By , Financial Planning, 07/20/2009
MarketMinder's View: So the solution to falling state tax revenues is to increase taxes and potentially cause more taxpayers to move to lower tax states, further decreasing future tax revenues? We don’t get it. See our 08/12/2008 cover story, “California Dreamin’,” for more.
Market Misperceptions
By , SmartMoney, 07/20/2009
MarketMinder's View: This is backwards. Most recoveries are called “jobless”—until they aren’t anymore. Folks think rising unemployment dooms the recovery. But the recovery drives jobs, not the other way around. Job creation will follow after economic recovery gets underway—pretty much always been that way.
Market Misperceptions
By , Barron’s, 07/20/2009
MarketMinder's View:
Higher exports does not make a richer nation. Case in point: The US and UK have had similar size and massive trade deficits for decades, yet UK and US growth has outpaced big surplus nations like Germany and Japan
Sensible Stories
By , Bloomberg, 07/20/2009
MarketMinder's View: We wouldn’t put a timeframe on the market recovery, but this isn’t unreasonable Historically, initial recoveries from bear market bottoms tend to match the speed and sharpness of the final bear market drop. See our 05/12/2009 cover story, “Too Fast, Too Furious?” for more.
Market Misperceptions
By , The Washington Post, 07/20/2009
MarketMinder's View: We wouldn’t say the stimulus has been “squandered.” We’d say: Stimulus takes time to work—sometimes months, sometimes up to a year, or longer. See our 07/08/2009 cover story, “A Confused Chorus,” for more.

 

Sensible Stories
By , The Wall Street Journal, 07/20/2009
MarketMinder's View: As banks prove they’re relatively healthy compared to a year prior, it makes sense more private capital will find its way into markets, credit and otherwise.
Sensible Stories
By , MarketWatch, 07/17/2009
MarketMinder's View: Recently, China has expressed concern over the weak dollar but the “bottom line: The big global reserve managers are not dumping U.S. dollar assets." For more, read our 07/14/2009 cover story, “A Dose of Reality.”
Market Misperceptions
By , MSN Money, 07/17/2009
MarketMinder's View:
There’s absolutely zero evidence China wants to stop buying US debt, now or in the future. For more, read our 06/03/2009 cover story, “Reserved Panda-monium.”
Market Misperceptions
By , The Atlantic, 07/17/2009
MarketMinder's View:
This is backwards. Improving employment numbers almost always lags economic recovery. The recovery drives job creation, not the other way around. 
Sensible Stories
By , Bloomberg, 07/17/2009
MarketMinder's View: “Demand for debt is cooling as investors favor assets that will benefit most from the economic recovery.” Investors freeing up cash to take advantage of more profitable opportunities in other liquid assets, like stocks, is a positive sign.
Market Misperceptions
By , International Business Times, 07/17/2009
MarketMinder's View:
More? We’ve barely got the first round spent. Patience, please. For more, read our 07/08/2009 cover story, “A Confused Chorus.”
Sensible Stories
By , The Wall Street Journal, 07/17/2009
MarketMinder's View: It’s typical during depths of a bear market and/or recession for folks to widely proclaim “this” downturn killed capitalism. We see no evidence of that. Market cycles are part and parcel of capitalism—not evidence of its weakness—and there’s increasing evidence an up-cycle is in the fore.
Market Misperceptions
By , Real Clear Markets, 07/17/2009
MarketMinder's View:
The metaphor of stimulus as a blood-sucking leech is exactly backwards and wrong. Fiscal stimulus is always imperfect and takes time, but additional spending, even if it’s stupid spending by the government, eventually increases money velocity and helps the economy.
Market Misperceptions
By , The New York Times, 07/17/2009
MarketMinder's View:
Since when is helping new and existing businesses raise capital not useful or beneficial? Owners, employees, and customers of businesses large and small (i.e., most everyone) would beg to differ.
Sensible Stories
By , Yahoo Finance, 07/17/2009
MarketMinder's View: Just as expected, stimulus plans are taking time to develop but showing positive signs for a healthy recovery to come. For more, read our 07/08/2009 cover story, “A Confused Chorus.”
Market Misperceptions
By , MarketWatch, 07/16/2009
MarketMinder's View:
Interesting that when unemployment numbers are good (or, at least, better), everyone suddenly realizes they’re faulty. But when they’re bad, they are absolutely correct. Any government data is inherently flawed. But either way, jobs have historically lagged recovery while stocks have led it.
Market Misperceptions
By , Bloomberg, 07/16/2009
MarketMinder's View:
Fees for “size” and “complexity”? And who decides what size and complexity level is right? Government meddling always leads to unintended consequences.
Sensible Stories
By , Real Clear Markets, 07/16/2009
MarketMinder's View: Want to see the beautiful benefits of lower taxes and creative destruction at work? Visit Las Vegas.
Sensible Stories
By , SmartMoney, 07/16/2009
MarketMinder's View: “The threat of inflation isn’t imminent. Once the economy picks up, however, it will pose a bigger threat and require careful monetary policy.” Quite true. See our 06/29/2009 cover story, “Reversing the Stimulus,” for more.
Sensible Stories
By , The Wall Street Journal, 07/16/2009
MarketMinder's View: More evidence we should focus on what politicians do, not what they say. Though Obama seemed anti-free trade while campaigning, he appears to want to expand free trade, not hinder it.
Market Misperceptions
By , The Nation, 07/16/2009
MarketMinder's View:
Well sure, Goldman did very well this past quarter. In general, Financials are faring much better than anyone could have thought. And that’s a good thing for broader economic health, not a reason to gripe that someone else earns a lot.
Market Misperceptions
By , Bloomberg, 07/16/2009
MarketMinder's View:
We see no benefits to this—except maybe for other nations’ banks that aren’t withholding bonuses and are looking to recruit more talent.
Sensible Stories
By , Time, 07/16/2009
MarketMinder's View: It’s quite normal at the end of a recession for official numbers to look bad while the stock market takes off. See our 11/04/2008 cover story, “The Ultimate Leading Economic Indicator,” for more.
Sensible Stories
By , The Wall Street Journal, 07/16/2009
MarketMinder's View: Not very surprising. If firms want to maximize shareholder value, they need top talent.
Dueling Headlines
By , The Wall Street Journal, 07/15/2009
MarketMinder's View: The titles alone speak for themselves.
Market Misperceptions
By , Telegraph, 07/15/2009
MarketMinder's View:
No one wants to hear about continuing job losses, but investors needn’t fear—unemployment is a lagging economic indicator and won’t likely recover until long after the stock market turns up.
Market Misperceptions
By , The Wall Street Journal, 07/15/2009
MarketMinder's View:
Implying the stock market won’t turn bullish until it sees proof of a sustainable economic recovery is wrong. Recent Fed and Treasury policies have provided necessary support, and as a leading indicator, the stock market will price in an impending recovery.
Market Misperceptions
By , The Wall Street Journal, 07/15/2009
MarketMinder's View:
Seems unlikely this program will achieve its stated goals, or have any significant market impact. For more, see our 6/26/2009 cover story, “Trifling Transformers.”
Sensible Stories
By , The Wall Street Journal, 07/15/2009
MarketMinder's View: As in the US, emerging European regulation will be worth keeping an eye on.
Market Misperceptions
By , Financial Times, 07/15/2009
MarketMinder's View:
We agree the global economy is climbing its way out of the past year’s crisis. However, to assume consumer behavior will be fundamentally altered and deficits will weigh down the economy for the foreseeable future is to erroneously believe “it will be different this time.”
Sensible Stories
By , The Wall Street Journal, 07/15/2009
MarketMinder's View: As the prominent economists signing this petition stated, weakening the Fed’s autonomy could lead to politicized decision-making and constrained monetary policy flexibility.
Market Misperceptions
By , Daily Finance, 07/15/2009
MarketMinder's View:
“Secular” bear market theories have never made for good forecasting. Ignore.
Sensible Stories
By , Kiplinger, 07/15/2009
MarketMinder's View: The important point here is yes, “stocks are still the best long-term investments.”
Sensible Stories
By , Yahoo Finance, 07/15/2009
MarketMinder's View: Speculation is not the evil market manipulator it’s made out to be. Speculation can actually help increase liquidity, which in turn can decrease volatility in the market. For more, see our 7/10/2009 cover story, “Oil! (Again).”
Market Misperceptions
By , Investor’s Business Daily, 07/15/2009
MarketMinder's View:
Simply put, it’s too soon to judge the effectiveness of this spring’s stimulus plan. No stimulus is perfect, and it will take time to distribute the money. For more, see our 7/08/2009 cover story, “A Confused Chorus.” 
Sensible Stories
By , Kiplinger, 07/14/2009
MarketMinder's View: Trying to time short-term market swings is a dangerous game and not an investor’s best route—it’s like “playing Russian roulette with two bullets in the chamber.”
Market Misperceptions
By , Minyanville, 07/14/2009
MarketMinder's View:
“At the end of the day, most believe that the 2 driving forces behind an economic recovery are numbers and consumer confidence.” Wrong. “Numbers” are backward-looking, and consumer confidence is coincident at best.
Sensible Stories
By , The Wall Street Journal, 07/14/2009
MarketMinder's View: Free trade’s benefits are clear: “Jobs and higher living standards.”
Sensible Stories
By , USA Today, 07/14/2009
MarketMinder's View: It’s taken longer than many would have liked, but stimulus spending is always imperfect and takes time to be felt. For more, see our 07/08/2009 cover story, “A Confused Chorus.”
Market Misperceptions
By , Financial Times, 07/14/2009
MarketMinder's View:
“We need an aggressive, systematic debt-for-equity conversion?” We’re not even sure what that means. A world without debt isn’t a better world—it’s a world where most folks can’t buy a home, go to college, or even buy a car.
Market Misperceptions
By , The Wall Street Journal, 07/14/2009
MarketMinder's View:
“Can we find comfort in the fact that employment has long been considered a lagging indicator? It is conventionally seen as having limited predictive power since employment reflects decisions taken earlier in the business cycle. But today is different.” Resist the urge to act under the assumption, “It’s different this time.”
Sensible Stories
By , CNN Money, 07/14/2009
MarketMinder's View: No one knows for sure when the economy will grow again, but there are increasing signs a recovery is on its way.
Market Misperceptions
By , The New York Times, 07/14/2009
MarketMinder's View:
So you think credit card and mortgage contracts are “mumbo jumbo”? Here’s a small hint: Insisting on more government regulation only increases the mumbo jumbo and price distortions.
Market Misperceptions
By , Fox News, 07/13/2009
MarketMinder's View:
Really? Baseball as a stock market indicator? Ridiculous.
Sensible Stories
By , BusinessWeek, 07/13/2009
MarketMinder's View: Yes, it does—most scams are unsustainable when investors become wary.
Market Misperceptions
By , Associated Press, 07/13/2009
MarketMinder's View:
Punishing banks while asking them to lend more is simply paradoxical—and a good way to drive talent away from areas where it’s most needed.
Sensible Stories
By , Bloomberg, 07/13/2009
MarketMinder's View: Since Japan is among the largest economies in the world, investors should keep an eye on political developments there.
Market Misperceptions
By , Bloomberg, 07/13/2009
MarketMinder's View: Calls to remove the US dollar as the world’s reserve currency aren’t new. Truth is, there’s still a very healthy appetite for dollar-based assets, despite posturing by foreign governments. See our 06/03/2009 cover story, “Reserved Panda-monium,” for more.
Sensible Stories
By , BusinessWeek, 07/13/2009
MarketMinder's View: “Dispensing billions of dollars, it turns out, simply takes time.” Exactly. See our 07/08/2009 cover story, “A Confused Chorus,” for more.
Market Misperceptions
By , Blogging Stocks, 07/13/2009
MarketMinder's View:
Speculation is a normal part of healthy, functioning capital markets and stifling it would likely cause unintended consequences. See our 07/10/2009 cover story, “Oil! (Again),” for more.
Sensible Stories
By , Dow Jones Newswires, 07/13/2009
MarketMinder's View: The irony! Especially coming from the country so critical of the US’ current debt posture. See our 06/03/2009 cover story, “Reserved Panda-monium,” for more.
Market Misperceptions
By , MSN Money, 07/13/2009
MarketMinder's View:
Employment has always been a lagging indicator relative to the stock market. There’s no reason why this time should be any different.
Sensible Stories
By , The Wall Street Journal, 07/13/2009
MarketMinder's View: “They predict prices, not set them.” Precisely why speculators shouldn’t be restricted.
Market Misperceptions
By , Seeking Alpha, 07/13/2009
MarketMinder's View:
Another doomsday article. See our 11/04/2008 cover story, “The Ultimate Leading Economic Indicator,” for more. 
Sensible Stories
By , The Wall Street Journal, 07/13/2009
MarketMinder's View: Hopefully, the government will realize changing old ways and allowing new business models is a good thing.
Market Misperceptions
By , The New York Times, 07/10/2009
MarketMinder's View:
“The bad employment report for June made it clear that the stimulus was, indeed, too small.” An odd conclusion, since the US has yet to unleash hundreds of billions in stimulus, and the fact unemployment levels lag economic recovery. It’s easy to see that from history.
Sensible Stories
By , The Wall Street Journal, 07/10/2009
MarketMinder's View: Derivatives (even “fancy” derivatives) aren’t as scary as folks think. They can be an important risk management tool for all kinds of companies.
Sensible Stories
By , The Wall Street Journal, 07/10/2009
MarketMinder's View: See? That wasn’t so bad. GM gets ready to exit Chapter 11. Of course, its long-term success, with the US as majority owner (for now), is up for serious debate.
Sensible Stories
By , Time, 07/10/2009
MarketMinder's View: “Those speculators might benefit from volatility, but without them there would be even more volatility, resulting from radically rising prices.” It’s true—“speculators,” otherwise known as “investors,” play an important role in price discovery. See today’s cover story, “Oil! (Again),” for more.
Sensible Stories
By , The Wall Street Journal, 07/10/2009
MarketMinder's View: “Most economists appear content to take the wait-and-see approach.” We agree—there’s a huge amount of stimulus yet to be deployed globally. For more, see our 07/08/2009 cover story, “A Confused Chorus.”
Market Misperceptions
By , The Street, 07/10/2009
MarketMinder's View:
Ignore consumer sentiment—it’s a coincident indicator at best and tells you nothing about future market direction.
Market Misperceptions
By , Bloomberg, 07/10/2009
MarketMinder's View:
Despite ongoing hysteria China may “dump” the dollar as a reserve currency, there’s no evidence they intend anything of the sort. For more, see our 06/03/2009 cover story, “Reserved Panda-monium.”
Market Misperceptions
By , Seeking Alpha, 07/10/2009
MarketMinder's View: An X? Why not a Q? Seems you can make headlines by proclaiming the “recovery” will look like any arbitrary letter. Don’t make the mistake of confusing market and economic recoveries—markets historically lead the economy, and we still see signs for a V-shaped recovery in the fore. For more, see our 05/18/2009 cover story, “Separating Shoots From Stocks.”
Market Misperceptions
By , The Motley Fool, 07/09/2009
MarketMinder's View:
Increasing consumption taxes to deter spending on high-priced items will help the economy? We doubt it.
Market Misperceptions
By , Investor’s Business Daily, 07/09/2009
MarketMinder's View:
This is a baseless worry for now as the government has no plans to halt stimulus efforts. Ignore.
Sensible Stories
By , The Globe and Mail, 07/09/2009
MarketMinder's View: “Riding out the bumps…is a more realistic option, given the risks in trying to time the market too precisely when the economy is near a turning point.” We couldn’t have said it better.
Sensible Stories
By , USA Today, 07/09/2009
MarketMinder's View: “Many banks have been reluctant to sell the assets at a deep discount.” Good for them! New capital infusions and changes to mark-to-market accounting rules mean banks don’t have to sell these illiquid assets at depressed prices well below their long-term values.
Market Misperceptions
By , Los Angeles Times, 07/09/2009
MarketMinder's View:
This is undoubtedly true to some extent, but the economic impact is overstated. The often-cited official US savings rate calculations are wonky and don’t provide an accurate picture of how Americans accumulate wealth.
Sensible Stories
By , The Motley Fool, 07/09/2009
MarketMinder's View: We agree—for most people, the perfect investments for this market are undervalued stocks.
Sensible Stories
By , The Washington Post, 07/09/2009
MarketMinder's View: The economy has and will continue to send mixed signals, but stocks have historically recovered before the economy gives an “all clear” signal. See our 11/04/2008 cover story, “The Ultimate Leading Economic Indicator,” for more.
Market Misperceptions
By , CNN Money, 07/09/2009
MarketMinder's View:
Fiscal stimulus is always clumsy. The government will spend some money wisely and some poorly. Either benefits the economy because it’s eventually spent normally by normal folks.
Sensible Stories
By , The Wall Street Journal, 07/09/2009
MarketMinder's View: Despite the headline, this article points out the perils of owning gold—in good times and bad.
Market Misperceptions
By , MoneyNews, 07/08/2009
MarketMinder's View:
Now is not the time to curtail fiscal stimulus. Doing so could hinder Britain’s recovery, and believing it will prop up the pound is just misguided.
Sensible Stories
By , The Globe and Mail, 07/08/2009
MarketMinder's View: We couldn’t have said it better: “My own thought is before there is thought of additional stimulus, I would urge all leaders to focus first on making sure the stimulus that’s been announced actually gets delivered.” See today’s cover story, “A Confused Chorus,” for more.
Market Misperceptions
By , Yahoo Finance, 07/08/2009
MarketMinder's View:
Despite rampant claims to the contrary, China is still very much invested in US dollar-denominated assets. See our 06/03/2009 cover story, “Reserved Panda-monium,” for more.
Sensible Stories
By , The Wall Street Journal, 07/08/2009
MarketMinder's View: As the recovery continues to progress, TALF and other similar government programs designed to boost lending will become obsolete.
Market Misperceptions
By , The Wall Street Journal, 07/08/2009
MarketMinder's View:
Those who blame speculators for major price swings misunderstand how capital markets work. See our 06/19/2009 cover story, “Voting and Weighing,” for more.
Market Misperceptions
By , Barron’s, 07/08/2009
MarketMinder's View:
Stocks never rise in a straight line. After a huge rise from the global March low, we can expect to see some negativity in the near term. But that doesn’t mean stocks can’t continue rising. See our 06/16/2009 cover story, “Trial by Volatility,” for more.
Sensible Stories
By , Bloomberg, 07/08/2009
MarketMinder's View: We agree. No need to put a halt on stimulus plans just as their effects begin taking root. An exit strategy will be key, but down the road.
Sensible Stories
By , Financial Times, 07/08/2009
MarketMinder's View: Agreed. Protectionist tendencies aren’t conducive to economic recoveries—just ask Smoot and Hawley.
Sensible Stories
By , Kiplinger, 07/07/2009
MarketMinder's View: Stocks are volatile, but they offer the potential for exceptional growth over time—especially after a steep downturn like we’ve seen recently.
Sensible Stories
By , Real Clear Markets, 07/07/2009
MarketMinder's View: “In short, the silver lining of job loss is future job creation.” Amen.
Market Misperceptions
By , Financial Times, 07/07/2009
MarketMinder's View:
An uptick in delinquencies isn’t surprising given the relatively weak economy and elevated unemployment, and financial firms have a long history of successfully provisioning for losses on consumer debt.
Sensible Stories
By , The Wall Street Journal, 07/07/2009
MarketMinder's View: Bonds have their place in many investor portfolios, but over long periods, stocks have historically almost always provided better returns.
Sensible Stories
By , The Wall Street Journal, 07/07/2009
MarketMinder's View: Free trade is alive and well and is an important component of a global economic recovery.
Sensible Stories
By , Bloomberg, 07/07/2009
MarketMinder's View: Deficits aren’t the harbingers of doom most fear, and deficit spending is appropriate in the current economic environment.
Market Misperceptions
By , Reuters, 07/07/2009
MarketMinder's View:
There’s no reason to believe a global authority would more effectively avoid economic calamities.
Market Misperceptions
By , International Business Times, 07/07/2009
MarketMinder's View:
Wouldn’t it make sense to fully utilize the first stimulus before planning a second? We think so.
Sensible Stories
By , Financial Times, 07/07/2009
MarketMinder's View: Upcoming elections have UK politicos rethinking an onerous bank regulation overhaul.
Market Misperceptions
By , Bloomberg, 07/07/2009
MarketMinder's View:
The role of speculators in energy pricing is debatable, and restricting this market could do more harm than good.
Market Misperceptions
By , Reuters, 07/07/2009
MarketMinder's View:
Don’t expect the dollar to be supplanted as the dominant global currency anytime soon. See today’s cover story, “Lights, Action, Renminbi” for more.
Sensible Stories
By , Barron’s, 07/06/2009
MarketMinder's View: Explains why inflation shouldn’t be feared too much today and possibly why we’ve been experiencing an upswing in stocks.
Sensible Stories
By , Reuters, 07/06/2009
MarketMinder's View: “Trade is one of many planks on which a global economic recovery will be built.” Agreed—and stifling trade will likely stall economic recovery. See our 06/24/2009 cover story, “Buy Apple Pie,” for more.
Market Misperceptions
By , SmartMoney, 07/06/2009
MarketMinder's View: Jobs numbers generally lag stock market recoveries and usually even lag economic recoveries too.
Sensible Stories
By , The Wall Street Journal, 07/06/2009
MarketMinder's View: Similar to proposed changes in the US, increased transparency isn’t necessarily a bad thing for derivatives markets.
Sensible Stories
By , The Wall Street Journal, 07/06/2009
MarketMinder's View: Similar to the fate of analogous US programs, the fact that UK banks aren’t jumping to get government money likely means they’re finding other sources of capital—a good thing.
Market Misperceptions
By , The Wall Street Journal, 07/06/2009
MarketMinder's View: Why increase spending when current stimulus hasn’t yet had the chance to work? See our 03/10/2009 cover story, “Redundant Rhetoric,” for more.
Market Misperceptions
By , International Business Times, 07/06/2009
MarketMinder's View: Stocks discount future expectations and usually recover ahead of the economy—which is why now is a good time to own stocks, before recovery is reflected in economic data.
Market Misperceptions
By , The Globe and Mail, 07/06/2009
MarketMinder's View:
The dollar is highly unlikely to lose its primacy in the near term. See our 06/03/2009 cover story, “Reserved Panda-monium,” for more.
Sensible Stories
By , CNN Money, 07/02/2009
MarketMinder's View: Though they may be tempting after a bear market, this cogent article describes the pitfalls of annuities.
Market Misperceptions
By , Associated Press, 07/02/2009
MarketMinder's View:
Bad news, sure. But jobs numbers have historically bottomed and recovered after the stock market. See our 11/04/2008 cover story, “The Ultimate Leading Economic Indicator,” for more.
Sensible Stories
By , The Wall Street Journal, 07/02/2009
MarketMinder's View: This is a classic case of trying to punish an industry and save it at the same time. Unintended consequences abound.
Sensible Stories
By , The Sydney Morning Herald, 07/02/2009
MarketMinder's View: Global stimulus continues as the Europeans keep interest rates low and continue accommodative policy.
Market Misperceptions
By , Time, 07/02/2009
MarketMinder's View:
Currency fluctuations are normal and have no correlation to stock market movements. Additionally, folks have called for the dollar’s demise routinely, yet it has been strong in the last year. Ignore.
Sensible Stories
By , The Wall Street Journal, 07/02/2009
MarketMinder's View: President Obama is moderating his stance on key issues—this is typical for politicians, who ultimately will posture themselves toward the middle to gain centrist votes to get reelected. Thus, the seemingly radical agendas laid out often turn out more benign than widely feared.
Market Misperceptions
By , The Christian Science Monitor, 07/02/2009
MarketMinder's View:
Raising taxes tends to drive out productive folks—employers, high-income earners, and businesses, small and large—to places where government burdens are less onerous.
Market Misperceptions
By , Breakingviews.com, 07/01/2009
MarketMinder's View:
Assuming that any financial “excitement” spells doom for stocks is wrong. Bull market returns following a steep bear market decline can be steep, but that doesn’t mean they aren’t volatile and scary.
Sensible Stories
By , Carpe Diem, 07/01/2009
MarketMinder's View: A great snapshot of this year’s bank failures in relation to last year’s. The world is nowhere near as dire as many presume.
Sensible Stories
By , Bloomberg, 07/01/2009
MarketMinder's View: What do you know? These much maligned securities appear to be worth more now than once feared. Great news that further nullifies government programs like the PPIP. See our 6/30/2009 cover story, “The Program That Wasn’t There,” for more.
Market Misperceptions
By , The New York Times, 07/01/2009
MarketMinder's View:
A global system risk council? How silly. We wouldn’t want other nations telling us how to run our institutions. Why would we presume other nations will listen to us?
Market Misperceptions
By , The Wall Street Journal, 07/01/2009
MarketMinder's View:
Need to? No. Just take a look at high-tax states like California and New Jersey to find out what happens when you raise taxes. Productive people either decide to be less productive or leave. Either way, tax revenue drops. See our 5/19/2009 cover story, “Tarnished by Taxes,” for more.
Sensible Stories
By , The Wall Street Journal, 07/01/2009
MarketMinder's View: Companies will inevitably become “too big to fail” as prosperity returns. This is how our economy works.
Market Misperceptions
By , Bloomberg, 07/01/2009
MarketMinder's View:
Well . . . maybe, maybe not. But stocks don’t move in lock-step with economic growth. What matters is reality relative to expectations—stocks can do fine on slow growth.
Market Misperceptions
By , InvestmentNews, 07/01/2009
MarketMinder's View:
Rising unemployment is never good news—if you’re looking for a job. But unemployment has historically been a lagging indicator at the end of bear markets. Expect this rate to continue rising even as stocks move higher.
Sensible Stories
By , The Wall Street Journal, 07/01/2009
MarketMinder's View: With the goal of eventually attracting investors from China as well as other nations, the Taiwanese government has taken yet another important step toward freer flow of capital.