Home → Fisher Investments MarketMinder Headlines → 07-2010 Archives

Sensible Stories
By , Daily Finance, 07/30/2010
MarketMinder's View: This isn’t “official” yet, but it likely will be by year end. Emerging Markets collectively are now larger than the US and on par with the EU. And they’re growing much faster, helping drive the global economy.
Sensible Stories
By , Daily Finance, 07/30/2010
MarketMinder's View: Buying physical gold is wrought with difficulties. Transaction fees can exorbitant, and it costs money to insure and store. All in all, gold can be a tricky investment.
Sensible Stories
By , BusinessWeek, 07/30/2010
MarketMinder's View: “Shareholders don’t typically like companies that sit on a lot of cash, so we’ll put that to work.” Firms have amassed tremendous cash stockpiles. Historically, that’s been a solid predictor of future business spending. For more, see our 06/14/2010 cover story, “Cashlandia.”
Sensible Stories
By , Seeking Alpha, 07/30/2010
MarketMinder's View: Rail freight has been trending higher—an indication economic activity is picking up.
Sensible Stories
By , The Wall Street Journal , 07/30/2010
MarketMinder's View: The three major Japanese banks posted positive results—good news for the world’s second (or third, depending on whom you ask) largest economy. Globally, the banking system continues to heal.
Sensible Stories
By , The Wall Street Journal , 07/30/2010
MarketMinder's View: Firms are not only cash-rich but can borrow at extremely low rates. Easy access to inexpensive capital should promote business spending and boost the overall economy.
Market Misperceptions
By , Sydney Morning-Herald, 07/30/2010
MarketMinder's View: US government debt levels aren’t problematic at present. Ultimately, the government will have to rein in the deficit, but there’s no need for extreme austerity now. For more, see our 06/10/2010 cover story, “Debunking Debt Concerns.”
Market Misperceptions
By , Daily Finance, 07/30/2010
MarketMinder's View: Europe faces challenges as select government get their fiscal houses in order, but the European economy has shown it’s in far better shape than most expected. For more, see today’s cover story, “Silence of the PIIGS.”
Market Misperceptions
By , Telegraph, 07/30/2010
MarketMinder's View: Trade barriers are falling globally—and it appears politicians understand the importance of continuing this trend. For more, see our 07/19/2010 cover story, “Chips and a Dip.”
Market Misperceptions
By , Bloomberg, 07/30/2010
MarketMinder's View:
Talk about dated data! We know the recession was bad. The fact it was worse than previously reported is meaningless for future economic activity and stocks.
Market Misperceptions
By , Pimco, 07/30/2010
MarketMinder's View: An overly simplistic way to look at demographic trends. Aging populations may become problematic for some countries, but some of the world’s most populous countries are home to fast-growing emerging economies. Folks there are likely to dramatically increase their consumption as income levels rise.
Sensible Stories
By , Reuters, 07/29/2010
MarketMinder's View: First the economy heals, then employment. Happens every time, and this time’s no different.
Market Misperceptions
07/29/2010
MarketMinder's View:
Is silver the new gold? At least silver has some industrial uses, but historically, equities have provided far better returns.
Sensible Stories
By , Telegraph, 07/29/2010
MarketMinder's View: We agree—less is often more. We’d rather see a higher quality of targeted regulation rather than mass quantities of impeding regulation.
Market Misperceptions
By , Slate, 07/29/2010
MarketMinder's View:
This is preposterous. Now reality TV is being used an indicator? The antics of these shows are nothing more than a guilty pleasure for many.
Market Misperceptions
By , Seeking Alpha, 07/29/2010
MarketMinder's View:
Eight more meager reasons. Weighed against the myriad positives, these are hardly concerning.
Market Misperceptions
By , Bloomberg, 07/29/2010
MarketMinder's View:
Sentiment mainly reflects where the economy has been, not where it’s going, making it a poor economic and stock market predictor.
Sensible Stories
By , Seeking Alpha, 07/29/2010
MarketMinder's View: “The bottom line: the fact that gold is a safe haven during a global financial crisis is based on perception.” A misperception at that!
Sensible Stories
By , Bloomberg, 07/29/2010
MarketMinder's View: Simply amazing considering Europe was the epicenter of recent economic angst.
Market Misperceptions
By , The Washington Post, 07/29/2010
MarketMinder's View:
Taxing the rich more is hardly the answer to woes.
Sensible Stories
By , The Sydney Morning Herald, 07/29/2010
MarketMinder's View: Inflation worries aside, the BOE is focusing on enacting a stimulus plan to further stimulate the economy—good plan.
Market Misperceptions
By , USA Today, 07/28/2010
MarketMinder's View:
Increased corporate liquidity is historically an indicator for increased business spending (good news for stocks). Corporations are already beginning to spend on technology upgrades and will likely begin hiring as the recovery strengthens.
Sensible Stories
By , EU Business, 07/28/2010
MarketMinder's View: “The latest airline data together with signals from factories across Europe suggest that the economic machine is getting back in gear.” More excellent news from Europe.
Market Misperceptions
By , The Motley Fool, 07/28/2010
MarketMinder's View:
Government subsidies and protectionist policies are counterproductive. Oh, and by the way, US manufacturing and Silicon Valley aren’t “dead.” For more, see our 04/05/2010 cover story, “No Kidding,” and our 07/23/2010 cover story, “Earnings to Fly.”
Sensible Stories
By , Daily Finance, 07/28/2010
MarketMinder's View: The headline says it all. After all, gold is a commodity (it’s also a rock), not the investing safe haven many pundits make it out to be.
Market Misperceptions
By , The Wall Street Journal , 07/28/2010
MarketMinder's View:
Overall, durable goods orders have been trending upward since early 2009. One or two months of mixed results doesn’t signal the end of the manufacturing sector in the US. For more, see our 02/04/2010 cover story, “Melancholy Over Manufacturing?”
Sensible Stories
By , The Wall Street Journal , 07/28/2010
MarketMinder's View: The recovery in Europe looks to be gaining momentum, and Germany is leading the way.
Sensible Stories
By , Slate, 07/28/2010
MarketMinder's View: Sentiment might be dour, but Americans are still spending. Watch what people do, not what they (or what headlines) say.
Market Misperceptions
By , BusinessWeek, 07/28/2010
MarketMinder's View:
The McClellan oscillator and the VIX are indicating the S&P will decline! Fear not, these gauges are about as accurate as high tide cycles and moon phases when predicting stock returns. 
Sensible Stories
By , The Wall Street Journal , 07/28/2010
MarketMinder's View: Bank of England Governor Mervyn King said the BOE may ease policy or pare back stimulus, depending on conditions—but the conversation will not be about “applying the brakes.” Seems like smart policy to us.
Market Misperceptions
By , Daily Finance, 07/28/2010
MarketMinder's View:
Ratings agencies continue to grab headlines—but we still can’t figure out why anyone listens to these government-enforced oligopolies.
Market Misperceptions
By , Associated Press, 07/27/2010
MarketMinder's View:
Consumer confidence is a backward-looking indicator—and can fluctuate hugely month to month. Ignore.
Sensible Stories
By , Daveshellenberger.com, 07/27/2010
MarketMinder's View: “Government tends to create problems, and then respond by developing new rules that cause even more harm.” We couldn’t have said it better.
Market Misperceptions
By , Daily Finance, 07/27/2010
MarketMinder's View:
Capital markets inputs like stock prices, mutual fund assets, and bond quality spreads play a big part in this index, which makes it a short-term sentiment indicator more than a measure of actual economic activity. It’s no surprise this index took a dip in the midst of a steep market correction, but that doesn’t mean a double-dip is coming.
Market Misperceptions
By , Bloomberg, 07/27/2010
MarketMinder's View:
If in doubt, look to private sector stress tests recently conducted that applied more stringent criteria—which further proved European banks are healthier than most think. See today’s cover story, “European Stress Management,” for more.
Sensible Stories
By , The Sydney Morning Herald, 07/27/2010
MarketMinder's View: This agreement (though still tentative) removes even more uncertainty from markets—good for stocks.
Sensible Stories
By , International Business Times, 07/27/2010
MarketMinder's View: The stress tests provide evidence European banks are healthier than most presumed. For more, see today’s cover story, “European Stress Management.”
Market Misperceptions
By , The Wall Street Journal, 07/27/2010
MarketMinder's View:
Pretty much entirely wrong on every count.
Sensible Stories
By , Investor’s Business Daily, 07/27/2010
MarketMinder's View: The debate rages on—but in our view, lower taxes are overall good for spending and the economy.
Market Misperceptions
By , USA Today, 07/27/2010
MarketMinder's View:
Economists, as a group, are exceedingly dour—many persistently stick to their recession forecasts even as the economy continues to grow and stocks recover.
Sensible Stories
By , Seeking Alpha, 07/26/2010
MarketMinder's View: The UK continues on its path to recovery as higher growth figures exceeded expectations.
Sensible Stories
By , Bloomberg, 07/26/2010
MarketMinder's View: The truth is we don’t need a robust housing recovery for stocks to boom overall—stocks were up huge in 2009 when housing was very weak. But this is more evidence the world is doing better than folks fathom.
Sensible Stories
By , The New York Times, 07/26/2010
MarketMinder's View: Investor sentiment at its lowest may be one of the best times to remain in the market.
Sensible Stories
By , Reuters, 07/26/2010
MarketMinder's View: Stress tests don’t necessarily reveal any new information, but in this case, unexpected positive results combined with high earnings may prove to boost confidence in Europe’s banks. For more, see today’s cover story, “Releasing Less Stress.”
Market Misperceptions
By , Seeking Alpha, 07/26/2010
MarketMinder's View:
Sentiment surveys aren’t meaningful for investors. They tell us little about where the market will go in the future and more about what has happened in the past. Ignore.
Market Misperceptions
By , Daily Finance, 07/26/2010
MarketMinder's View:
None of which have the impact that folks think. For example, employment improvements have always lagged the economy. If employment improved before the economy, it would be a complete historic aberration!
Market Misperceptions
By , Telegraph, 07/26/2010
MarketMinder's View:
Yep. The Weimar Republic made some pretty debilitating monetary errors. However, with all of our technology and shared knowledge, in today’s global economy, such errors are extremely unlikely.
Market Misperceptions
By , Bloomberg, 07/26/2010
MarketMinder's View:
This is a touch deceptive. The growth rate may slow—but it’s still growth! And it’s quite normal for a growth rate to slow after the initial surge of a recovery.
Market Misperceptions
By , Los Angeles Times, 07/26/2010
MarketMinder's View: If anything, with global recovery underway and continued global monetary stimulus floating around, inflation is a more realistic risk—but one that is still far down the road.
Market Misperceptions
By , Reuters, 07/23/2010
MarketMinder's View:
What’s amazing is anyone puts any stock in rating agency grades. They are typically very, very late to the party and simply point out what everyone already knows.
Market Misperceptions
By , Seeking Alpha, 07/23/2010
MarketMinder's View:
This is insane. Why does it make any sense to include corporate, personal, and government debt, and compare it to our nation’s income? Why not compare it to, say, total assets? This is like you, personally, including the liabilities of the companies whose stocks you own on your own personal balance sheet. According to this, you should! But that’s crazy!
Sensible Stories
By , EU Business , 07/23/2010
MarketMinder's View: Overall, Spanish and Portuguese banks likely won’t need additional funds (though a few banks are indeed troubled—which is normal and to be expected), but the extension of the special measures should help alleviate investor fears.
Market Misperceptions
By , Daily Finance , 07/23/2010
MarketMinder's View: Don’t be fooled—silver (and gold) is a commodity, like soybeans or pork bellies—not an investing safe haven.
Market Misperceptions
By , International Business Times , 07/23/2010
MarketMinder's View: China appears to be splitting the difference between overheating and slow growth—and getting it just right for the time being. For more, see our 07/20/2010 cover story, “Energizing Global Growth.”
Sensible Stories
By , BBC News, 07/23/2010
MarketMinder's View: So far it’s shaping up to be a fine earnings season. For more, see today’s cover story, “Earnings to Fly.”
Market Misperceptions
By , Moneynews, 07/23/2010
MarketMinder's View: Sheesh. You can’t win! Countries either spend too much or too little—no one can get anything right! The truth is, the world continues to grow, and growth estimates for 2010 were recently increased. How is that a double dip?
Sensible Stories
By , Bloomberg, 07/23/2010
MarketMinder's View: Economic strength from Europe’s two largest economies should help buoy the rest of the eurozone.
Sensible Stories
By , Bloomberg, 07/23/2010
MarketMinder's View: Another encouraging sign the recovery in Europe is strengthening and further proof dour sentiment can’t hold back positive economic fundamentals forever.
Sensible Stories
By , The Independent , 07/23/2010
MarketMinder's View: Strong earnings showing by US firms continue to belie we’re on the precipice of a “double-dip.”
Sensible Stories
By , Reuters, 07/22/2010
MarketMinder's View: More evidence firms are in fine shape and doing better than expected.
Sensible Stories
By , MSNBC, 07/22/2010
MarketMinder's View: “Capitalism is an integral part of free enterprise.” Tomato, tomahto. Capitalism is alive and well. For more, see our 07/22/2010 book review, “Capitalism 4.0.”
Market Misperceptions
By , The Huffington Post, 07/22/2010
MarketMinder's View:
We are utterly confused, we must confess. All this talk of a “double-dip” or a “1.5 dip” (whatever that is) and such things are historically rare—yet no one says why this time is so radically different. Further, global growth is not only positive, but it is above average, and growth projections were just INCREASED. Maybe we are confused, and by “double-dip” people mean “ongoing, fine growth”? It’s the only explanation.
Market Misperceptions
By , Reuters, 07/22/2010
MarketMinder's View:
We’re sputtering that someone thinks Taiwan reporting 22.48% year-over-year export growth in June is a sign of a “sputtering” global economy. In short, it’s not. It’s amazing, massive, ongoing export growth from that region.
Sensible Stories
By , Reuters, 07/22/2010
MarketMinder's View: Led by Germany and France, the eurozone economy continues on the recovery road.
Sensible Stories
By , Associated Press, 07/22/2010
MarketMinder's View: Continued evidence of the recovery in Emerging Markets. See our 06/24/2010 cover story, “Improvements for the Average João,” for more.
Sensible Stories
By , The Wall Street Journal, 07/22/2010
MarketMinder's View: Well, it’s official. For more, see our 07/14/2010 cover story, “Reform to the Norm.”
Market Misperceptions
By , Barron’s, 07/22/2010
MarketMinder's View:
Two words—“unusual uncertainty”—have whipped perma-bears into a fresh frenzy. It’s apparent they didn’t listen to the rest of the testimony, which was cautiously optimistic with fine growth expected. For more, see today’s cover story, “Lowering the Economic Bar.”
Market Misperceptions
By , Daily Finance, 07/22/2010
MarketMinder's View:
As always, employment numbers are a lagging indicator. They don’t tell you which way the economy is going. For more, see our 05/06/2010 cover story, “Upbeat on Unemployment.”
Sensible Stories
By , USA Today, 07/21/2010
MarketMinder's View: After widespread panic over Germany’s economic position, the country seems to be returning to fine growth.
Market Misperceptions
By , Daily Finance, 07/21/2010
MarketMinder's View:
Much of the “deflationary” readings are tied to the spike in energy last year. Overall, prices are basically flat, not falling. And with all the monetary stimulus still floating around globally, a bigger risk is future inflation—but that risk is still a ways down the road.
Sensible Stories
By , Yahoo! Finance, 07/21/2010
MarketMinder's View: More proof the manufacturing industry has been on the rise lately.
Market Misperceptions
By , Fortune, 07/21/2010
MarketMinder's View:
Oy! The Berk-share? The Ithaca Hour? We’ll stick with the greenback, thanks.
Sensible Stories
By , Associated Press, 07/21/2010
MarketMinder's View: The Fed seems likely to remain exceptionally accommodative in the period ahead.
Market Misperceptions
By , Daily Finance, 07/21/2010
MarketMinder's View:
The banking industry is recovering, albeit at a slow pace. But bank closures are typical after financial crises and shouldn’t come as a surprise. For more, see our 02/25/2010 cover story, “Banks and Capitalism.”
Market Misperceptions
By , Barron’s, 07/21/2010
MarketMinder's View:
This is a lingering effect of the tax credit expiring. And while US housing data will likely be choppy for some time, it shouldn’t derail the overall global recovery—for example, housing was weak all of 2009 while stocks boomed. For more, see our 06/24/2010 cover story, “Housing Tax-Credit Hangover.”
Sensible Stories
By , The Wall Street Journal, 07/21/2010
MarketMinder's View: “Perhaps this past decade has been good for gold and bad for stocks. But over the past 50 years, 100 years, 200 years, capital markets grow and gold stays the same or goes down.” Seems about right. There’s no inherent reason why gold—a commodity—should be a safer or better investment than stocks. In fact, history suggests the reverse.
Market Misperceptions
By , Los Angeles Times, 07/21/2010
MarketMinder's View:
This is largely about unemployment, which remains high. But it’s normal for unemployment to stay high even after a recovery is underway. It would be weird for unemployment to fall before a recession ended—it’s never happened before! 
Market Misperceptions
By , MarketWatch, 07/20/2010
MarketMinder's View:
So, before, folks were saying consumers had too much debt and that was bad. And now, consumers are paying off their debts—and that’s bad? Ignore. Consumers are alive and well—and spending (despite what this article says). See our 06/29/2010 cover story, “The Consumer Lives!” for more.
Sensible Stories
By , The Washington Times, 07/20/2010
MarketMinder's View: A great argument against state income taxes.
Market Misperceptions
By , Fox Business, 07/20/2010
MarketMinder's View:
Beating up on bankers will likely be a popular sport in Washington for the foreseeable future. This persistent uncertainty could weigh on Financials shares. See our 11/10/2009 cover story, “Paying for the Bailouts,” for more.
Sensible Stories
By , Bloomberg, 07/20/2010
MarketMinder's View: “Spain, Ireland and Greece auctioned almost 10 billion euros of debt.” With the EU/IMF/ECB aid package in place, demand for PIIGS debt is robust. See our 05/11/2010 cover story, “C’est Un Bazooka,” for more.
Sensible Stories
By , The Wall Street Journal, 07/20/2010
MarketMinder's View: Here’s a well thought-out look at a few reasons a double-dip recession likely isn’t in the cards. For more, see our 12/08/2009 cover story, “Skip the Double Dip.”
Sensible Stories
By , Kiplinger, 07/20/2010
MarketMinder's View: We’ve always trying to time the market typically does more harm than good. See our 03/22/2010 cover story, “Timing (Isn’t) Everything,” for more.
Sensible Stories
By , Seeking Alpha, 07/19/2010
MarketMinder's View: Indeed! “Any time we can get more output with fewer workers, whether it's farming or manufacturing, it's a sure sign of economic progress and a rising standard of living.” America remains the world’s manufacturing leader—by every standard imaginable.
Market Misperceptions
By , Telegraph, 07/19/2010
MarketMinder's View:
It’s hard to find much here that paints a rational, realistic picture of today’s economic landscape. Lots of “scare” words, but not much data. (Not to mention the M3 number is a metric that hasn’t been published in years because it’s not very useful.) For more, see our 06/18/2010 cover story, “Unnecessary Stressing.”
Sensible Stories
By , International Business Times, 07/19/2010
MarketMinder's View: “Leading banks are set to post higher quarterly profits on strong corporate and retail loan demand.” Amen, no complaints here—keep those profits coming. For more, see our 07/14/2010 cover story, “Tuning Out the Static.”
Market Misperceptions
By , USA Today, 07/19/2010
MarketMinder's View: Okay, and? Just because folks naturally like to make comparisons don’t mean they are accurate.
Sensible Stories
By , Bloomberg, 07/19/2010
MarketMinder's View: An interesting look at global trade’s health from the inside out.
Sensible Stories
By , USA Today, 07/19/2010
MarketMinder's View: A strong sign for the jobs market as gains hit a three-year high. While not a leading indicator, this is confirmation the recovery is gaining strength.
Market Misperceptions
By , Slate, 07/19/2010
MarketMinder's View:
This is a little silly. How can anyone know what anyone else—CEOs included—are feeling or thinking? Much less how those people are collectively thinking or feeling? Among other things, CEOs are charged with improving shareholder value—of course they’re going to press for things they think are in the best interests of their firms’ value.
Market Misperceptions
By , Seeking Alpha, 07/19/2010
MarketMinder's View:
Actually, in the second year following a big bear market bottom, the odds are stacked heavily in favor of an ongoing market recovery over the next 12 or so months.
Sensible Stories
By , Reuters, 07/16/2010
MarketMinder's View: “The US economy is experiencing a moderate recovery that is unlikely to be derailed by weak housing and persistent unemployment.” Not only sustainable, but strong as well.
Market Misperceptions
By , Los Angeles Times, 07/16/2010
MarketMinder's View: “This recession has already been more than garden variety. The longer it lasts, the deeper and broader the scars will be.” Sure, psychological changes can occur during any major market downturn, but it’s likely this one has been over since US GDP turned positive Q3 2009. 
Sensible Stories
By , The Wall Street Journal, 07/16/2010
MarketMinder's View: With consumer prices overall contained and interest rates stabilizing, inflationary fears are becoming less realistic.
Market Misperceptions
By , Minyanville, 07/16/2010
MarketMinder's View: “If manufacturers are ramping up production, even modestly, in expectations for a better second half, they're going to regret it.” With as strong of a recovery as the manufacturing industry has seen lately, we’d have to disagree.
Sensible Stories
By , Financial Times, 07/16/2010
MarketMinder's View: While currency moves shouldn’t much matter for global investors, China’s firm backing of the euro may help alleviate worries over the currency’s fate. For more, see our 06/08/2010 cover story, “We’re Okay, Euro Okay.”
Market Misperceptions
By , Bloomberg, 07/16/2010
MarketMinder's View: Japan’s current political state shouldn’t cause further disastrous results as this argument claims. With as much political uncertainty as they’ve experienced in past years, Japan should be equipped to handle change. For more, see our 07/13/2010 cover story, “Konnichiwa—and Sayonara?”
Market Misperceptions
By , The Wall Street Journal , 07/16/2010
MarketMinder's View: They bought a bunch in May too, and more in June. Fact is, foreigners are just as interested in US assets as ever before. For more, see our 05/18/2010 cover story, “America, Still Popular.”
Market Misperceptions
By , Barron’s, 07/16/2010
MarketMinder's View: We see stocks’ positive performance as more of a long-term relationship rather than a fling. Don’t be put off by market volatility—positive fundamentals are out there. For more, see our 07/02/2010 cover story, “Negative Needles in Positive Haystacks.”
Sensible Stories
By , The Wall Street Journal, 07/16/2010
MarketMinder's View: Toyota now wants a piece of Brazil’s economic growth, and we don’t blame them. With Brazil’s recent successful economy, it makes sense to invest in such a country. For more, see our 05/14/2010 cover story, “The Girl from Ipanema or Santorini?”
Sensible Stories
By , The Wall Street Journal, 07/15/2010
MarketMinder's View: As expected, financial regulation will get final approval from Congress. For a snapshot of what’s in this lengthy bill, see our 06/28/2010 cover story, “The Paper Companies’ Big Win.”
Sensible Stories
By , CNN Money, 07/15/2010
MarketMinder's View: Free trade is advancing globally—particularly in Asia—and that’s good news for the world economy. Of course, it’d be great to see some deals inked in the US too. For more, see our 06/16/2010 cover story, “Make Trade, Not Taxes.”
Market Misperceptions
By , Telegraph, 07/15/2010
MarketMinder's View:
The pessimism of disbelief in a nutshell—either too-fast growth will bring inflation and bubbles or slowing (but still quite healthy) growth portends a “hard landing.” There’s no winning that argument. For more, see our 01/24/2010 cover story, “Pessimism of Disbelief.”
Market Misperceptions
By , CNN Money, 07/15/2010
MarketMinder's View:
Initial claims, though off peak levels, have been range-bound all year—this is the first significant move lower and is encouraging news. But unemployment overall may remain elevated, even as the economy and markets move higher, and shouldn’t drive investment decisions. For more, see our 05/06/2010 cover story, “Upbeat on Unemployment.”
Sensible Stories
By , Reuters, 07/15/2010
MarketMinder's View: Calmer financial markets, strengthening exports, and successful PIIGS bond auctions are strong steps toward a continuing recovery. For more, see today’s cover story, “On PIIGS and Needles.”
Sensible Stories
By , The Wall Street Journal, 07/15/2010
MarketMinder's View: Emerging and developed economies in Asia continue leading the global recovery. Singapore’s strong Q2 growth came on the heels of record Q1 expansion.
Market Misperceptions
By , CNN Money, 07/15/2010
MarketMinder's View:
Lost Decade worries have been around for two years—nothing new about ‘em. Beyond a real estate bust, there just aren’t many similarities. Whereas Japanese authorities dawdled for a decade, the Fed acted quickly, decisively, and overwhelmingly to ward off deflation.
Market Misperceptions
By , CNN Money, 07/15/2010
MarketMinder's View:
High cash balances after a recession are fairly typical, and in the past, increased business spending tends to follow. With today’s historically high cash levels, that’s very bullish looking forward. For more, see our 06/14/2010 cover story, “Cashlandia.”
Sensible Stories
By , Slate, 07/14/2010
MarketMinder's View: The federal deficit decreases when taxes receipts increase—i.e., when business and the economy are healthy and growing. We should see growth naturally reduce the deficit as economic recovery continues. For more, see our 06/10/2010 cover story, “Debunking Debt Concerns.”
Market Misperceptions
By , MarketWatch, 07/14/2010
MarketMinder's View:
Where was this argument when companies reported massive earnings declines in 2008 and 2009? Accounting can be tricky, but earnings in aggregate show firms are profitable again.
Sensible Stories
By , AAP, 07/14/2010
MarketMinder's View: Eureka! And the answer is (drum roll please)…the chicken! One less thing for investors to worry about.
Market Misperceptions
By , CNN Money, 07/14/2010
MarketMinder's View:
We had to double check the date on this one—it’s at least a year late. Despite calls for the dollar’s demise, countries haven’t noticeably backed away from greenbacks. 
Sensible Stories
By , Associated Press, 07/14/2010
MarketMinder's View: Easing credit conditions are a good sign for recovery—and are a signal that lenders are foreseeing better times ahead as they continue moving from preservation to profit-seeking.
Sensible Stories
By , Café Hayek , 07/14/2010
MarketMinder's View: “Substantial growth in productivity…is the only source of sustained and widespread prosperity.” Couldn’t have put it better ourselves.
Market Misperceptions
By , CNN Money, 07/14/2010
MarketMinder's View:
“The sad reality is that many companies appear to be getting used to, at best, doing more with their current workforce. In some cases, they are doing more with less.” Since when is higher productivity sad? For more, see today’s sensible story from Café Hayek, “Applaud Productivity.”
Sensible Stories
By , Daily Finance, 07/14/2010
MarketMinder's View: On the heels of recent successful sovereign bond auctions and not so awful economic data, it seems increasingly that euro fears were overdone—a typical correction storyline.
Market Misperceptions
By , The Washington Post, 07/14/2010
MarketMinder's View:
America’s trade deficit has consistently risen since the mid-‘70s—a period marked by extraordinary economic well-being, growth, and, yes, plenty of jobs overall. 
Market Misperceptions
By , Daily Finance, 07/13/2010
MarketMinder's View:
Credit rating agencies have been downgrading countries’ debt globally, yet investors are still (for the most part) snapping up government bonds. And, “so far this year, Portugal has experienced no liquidity problems and no difficulty raising money on international markets.” ‘Nuff said.
Sensible Stories
By , The Globe and Mail, 07/13/2010
MarketMinder's View: “Patience is a hugely underrated asset.” Truer words were never spoken—investors who make panicked decisions in the heat of the moment usually wind up hurting, not helping, their portfolios.
Sensible Stories
By , International Business Times, 07/13/2010
MarketMinder's View: Though few agree, fundamentals remain mostly positive—plus historically, real economic double-dips are extremely rare.
Sensible Stories
By , Daily Finance, 07/13/2010
MarketMinder's View: Greece’s latest sovereign debt auction saw three times more demand than supply.
Market Misperceptions
By , Financial Times, 07/13/2010
MarketMinder's View:
Dr. Doom strikes again with an unsubstantiated laundry list of economic maladies. Even he probably doesn’t believe the future is so bleak, but he’s got to live up to his moniker.
Market Misperceptions
By , Reuters, 07/13/2010
MarketMinder's View:
Whether the US-China trade gap widens or narrows shouldn’t be a concern; rather, it’s overall trade that matters—and overall trade is up, which is good for everyone globally.
Sensible Stories
By , The Street, 07/13/2010
MarketMinder's View: A great list of reasons earnings should be strong again this quarter. See our 05/17/2010 cover story, “The Fundamental Focus,” for more.
Sensible Stories
By , Kiplinger, 07/13/2010
MarketMinder's View: “…The mind has a tendency to equate information, such as facts, with knowledge (expertise), which gives you ‘a tremendous illusion of knowledge.’” In other words, beware overconfidence when it comes to investing.
Sensible Stories
By , The New York Times, 07/12/2010
MarketMinder's View: As Wall Street enters earnings season, the numbers being reported are proving this is “one of the strongest profits recoveries ever.” Continued strong earnings growth in Q2 may convince investors things aren’t as bad as some think.
Market Misperceptions
By , The Street, 07/12/2010
MarketMinder's View:
The trade deficit doesn’t matter—it’s overall trade we should care about, and total trade continues to recover. Further, trade deficits can show relative economic health—folks back home have more money to buy foreign goods than folks abroad have to buy our goods.    
Sensible Stories
By , Bloomberg, 07/12/2010
MarketMinder's View: Overly dour forecasts of euro disaster seem to have missed the mark—the monetary union remains intact and some countries are showing surprising economic resilience.
Market Misperceptions
By , The Wall Street Journal, 07/12/2010
MarketMinder's View:
Volatility is a normal part of the market cycle and investors often get fatigued—only to end up selling low and buying high. Yet in the long run, even including the worst of times, stocks remain the best-performing liquid asset class. Staying disciplined is a key to meeting long-term goals.
Sensible Stories
By , Telegraph, 07/12/2010
MarketMinder's View: Corrections fall fast on wild stories, only to recover dramatically as investors see the light. Good news for stocks in the second half as sovereign debt and double-dip fears fade. For more, see our 7/2/2010 cover story, “Negative Needles in Positive Haystacks.”
Sensible Stories
By , Reuters, 07/12/2010
MarketMinder's View: China’s June exports surged more than expected—in particular to Europe—perhaps relieving fears the global recovery will falter on slower Emerging Markets growth or crisis in Europe.
Market Misperceptions
By , Daily Finance, 07/12/2010
MarketMinder's View:
Teens are a very narrow, inexperienced segment of the labor market, and unemployment (already a lagging indicator) may take longer to turn around for them. But positing a few low-wage teen jobs drive overall consumption is plain misplaced.
Market Misperceptions
By , The New York Times, 07/12/2010
MarketMinder's View:
If it isn’t comparisons to the Great Depression, it’s to Japan’s Lost Decade. These are extreme (and hardly representative) scenarios. We’ve yet to see persistent deflation, monetary policy remains very loose, and the recovery continues apace. In the event more liquidity is needed, the Fed has shown it’s willing to take action.
Market Misperceptions
By , Bloomberg, 07/09/2010
MarketMinder's View: The economic recovery isn’t being led by US consumers because they didn’t pull back much in the first place. For more, see our 06/29/2010 cover story, “The Consumer Lives!”
Sensible Stories
By , Telegraph, 07/09/2010
MarketMinder's View: “Markets are as much driven by fear and phobia as economic fundamentals.” That’s true in the short term, but fundamentals usually win out in the long term.
Market Misperceptions
By , The Nation, 07/09/2010
MarketMinder's View: “A society that puts equality ahead of freedom will end up with neither.” - Milton Friedman
Market Misperceptions
By , Seeking Alpha, 07/09/2010
MarketMinder's View: A list of reasons that are either misinterpreted, meaningless, or backward-looking. Ignore. For more, see our 07/02/2010 cover story, “Negative Needles in Positive Haystacks.”
Market Misperceptions
By , The New Republic, 07/09/2010
MarketMinder's View: A sensationalized account of the financial crisis with a populist ending. Just wrong.
Market Misperceptions
By , Fortune, 07/09/2010
MarketMinder's View: Perma-bears think investors should flee the market? Shocking. These stopped-clocks likely won’t be right again for awhile.
Sensible Stories
By , MarketWatch, 07/09/2010
MarketMinder's View: Trade tensions ease between China and the US. For more, see our 07/08/2010 cover story, “Still a Yuan for US Debt.”
Sensible Stories
By , Reuters, 07/09/2010
MarketMinder's View: Instituting a uniform set of rules among exchanges and market-makers should lead to more effective regulation.
Sensible Stories
By , MarketWatch, 07/09/2010
MarketMinder's View: As we’ve said, PIIGS debt concerns might seem scary but lack economic teeth. Major European banks appear healthy, governments are successfully selling debt, and signs of contagion are virtually non-existent.
Market Misperceptions
By , Telegraph, 07/08/2010
MarketMinder's View:
A lot of brouhaha about a break-up that has very little chance of happening in the near term. This type of media is fodder for the pessimism of disbelief. For more, see our 06/30/2010 cover story, “A Chicken Little Sort of Day?”
Market Misperceptions
By , Reuters, 07/08/2010
MarketMinder's View:
A lot of speculation, but not a lot of substance. For more, see our 07/02/2010 cover story, “Negative Needles in a Positive Haystack.”
Sensible Stories
By , Daily Finance, 07/08/2010
MarketMinder's View: China has been clear it’ll avoid buying currency shocks and instead take a measured approach to yuan appreciation. For more, see today’s cover story, “Still a Yuan for US Debt.”
Market Misperceptions
By , Seeking Alpha, 07/08/2010
MarketMinder's View:
As the author says, “The last time Treasuries were this elevated was in the depth of the 2008-2009 Collapse.” You might recall that was a great time to buy stocks—the stock market rally since March 2009 has been astounding.
Sensible Stories
By , MarketWatch, 07/08/2010
MarketMinder's View: A projected increase in global growth is good news for this year, and next—with Emerging Markets leading the charge. For more, see our 06/11/2010 cover story, “Improvements for the Average João.”
Sensible Stories
By , Blogging Stocks, 07/08/2010
MarketMinder's View: Sensible, and what we’ve been saying all along. For more, see our 06/14/2010 cover story, “Cashlandia.”
Sensible Stories
By , CNN Money, 07/08/2010
MarketMinder's View: Good news on the jobs front: Both initial claims and continuing claims decreased more than expected last week.
Sensible Stories
By , CNN Money, 07/08/2010
MarketMinder's View: Yep—true double dips are rare, if not nonexistent.
Market Misperceptions
By , Daily Finance, 07/08/2010
MarketMinder's View: “But limits on banker bonuses have been in effect for a year already in Britain, and there aren't many signs that they've brought about any meaningful changes in the way banks operate there.”  Compensation limits likely won’t have the desired effect, and will undoubtedly cause financial firms to flee the EU for more hospitable environs.
Sensible Stories
By , CNN Money, 07/08/2010
MarketMinder's View: Don’t be fooled by the title—this article actually makes some good points about how the banking system has healed.
Market Misperceptions
By , Guardian , 07/07/2010
MarketMinder's View:
Hard to believe, but Nouriel “Dr. Doom” Roubini has even gloomier competition. Note, the King of Doom made similar predictions in 2002 after the last bear and just before a multi-year bull. 
Sensible Stories
By , The Wall Street Journal , 07/07/2010
MarketMinder's View: The “threat” of China liquidating Treasuries en masse has always been more political theater than reality. China and other countries invest in the US for “security, liquidity, large capacity and low transaction costs.” None of that has changed recently, nor is it likely to change any time soon.
Sensible Stories
By , BusinessWeek, 07/07/2010
MarketMinder's View: Consumers are alive and spending hand over fist. Good news! Of course, we might add, they were never really dead. For more, see our 06/29/2010 cover story, “The Consumer Lives!”
Market Misperceptions
By , Guardian , 07/07/2010
MarketMinder's View:
Post-eurozone Europe would resemble some sort of Mad Max-like wasteland—scary! Good thing it’s not too probable at the moment.
Market Misperceptions
By , BusinessWeek, 07/07/2010
MarketMinder's View:
British economic growth has outstripped expectations so far this year—what makes these dour predictions any more accurate than those earlier erroneous ones? Budget cuts may slow economic growth, but they may not be enacted exactly as promised and have been expected all year.
Market Misperceptions
By , CNNMoney, 07/07/2010
MarketMinder's View:
The S&P 500, or any index, closing above or below an arbitrary level says nothing about the long-term health of capital markets or the economy. For more, see our 03/18/2010 cover story, “Meaningless Marker.”
Sensible Stories
By , The Motley Fool, 07/07/2010
MarketMinder's View: Corporate profits not only recovered the ground they lost in the recession, but surpassed their previous 2006 peak. For more underlying but overlooked positive fundamentals, see our 07/02/2010 cover story, “Negative Needles in Positive Haystacks.”
Sensible Stories
By , Chicago Tribune, 07/07/2010
MarketMinder's View: Greece isn’t out of the woods yet, but two months ago few would have imagined this headline.
Sensible Stories
By , International Business Times, 07/07/2010
MarketMinder's View: The breakup of the EMU makes for great headlines, and there are real risks to the monetary union. But its breakup is unlikely in the near term—the pledge of fiscal support buys these countries time to address underlying problems.
Market Misperceptions
By , The Globe and Mail, 07/07/2010
MarketMinder's View:
Speculation on landmark shifts to “new economic orders” are attention-grabbers—but few, if any, are anywhere close to accurate. We usually see the biggest changes most clearly in the rearview mirror.  
Sensible Stories
By , RTT News, 07/07/2010
MarketMinder's View: Brazil’s fast growth, coupled with low inflation, is a dynamite Emerging Market combination. It’s notable that, even for countries at the recovery’s forefront, inflation is still mostly manageable. For more see our 06/11/2010 cover story, “Improvements for the Average Joao.”
Market Misperceptions
By , Washington Post, 07/06/2010
MarketMinder's View:
What emergency? True to form, the unemployment rate is lagging stock market and economic recovery and is slowly improving—it’s unrealistic to expect unemployment to drop precipitously overnight. For more, see our 05/06/2010 cover story, “Upbeat on Unemployment.”
Sensible Stories
By , Bloomberg, 07/06/2010
MarketMinder's View: Agreed. Ignore all the brouhaha surrounding the yuan-dollar currency unpegging—much of it is no more than political saber-rattling. See our 06/22/2010 cover story, “Yuan for You, Yuan for Me,” for more.
Sensible Stories
By , Guardian, 07/06/2010
MarketMinder's View: Arguments against free trade debunked one by one.
Sensible Stories
By , Bloomberg, 07/06/2010
MarketMinder's View: “There aren’t any common standards, we don’t know what scenarios are being tested, and we don’t know if all the results are going to be published. All this is doing is sparking another round of feverish speculation.” Remember, markets hate uncertainty—and how EU banks react to these tests remains to be seen.
Sensible Stories
By , Bloomberg, 07/06/2010
MarketMinder's View: “US government bond yields are signaling almost no chance of the economy slipping into another recession even as stocks and commodities tumble.” We agree—true economic double dips are rare. See our 12/08/2009 cover story, “Skip the Double-Dip,” for more.
Market Misperceptions
By , Time, 07/06/2010
MarketMinder's View:
So…a forecasted drop in Chinese GDP from 11.4% to 10.4% means recovery is stalling? Makes no sense to us.
Sensible Stories
By , The New York Times, 07/06/2010
MarketMinder's View: Increased cooperation between countries equals freer trade—good news for the global economy overall.
Market Misperceptions
By , Telegraph, 07/06/2010
MarketMinder's View:
We don’t understand the reasoning behind thinking how a positive GDP reading (2.7% Q1 in the US) is equivalent to being “trapped in depression.” Ignore, and see our 07/02/2010 column, “Depression Economics II,” for more.
Market Misperceptions
By , The New York Times, 07/06/2010
MarketMinder's View:
That people are exceedingly dour isn’t confirmation of a bleak outlook. Rather, it’s normal in a bull market (and particularly during a bull market correction) for folks to see only bad and ignore the good. Remember: Stocks go up more than down over the long term.
Sensible Stories
By , Seeking Alpha, 07/02/2010
MarketMinder's View: Historically, unemployment has been a lagging indicator and shouldn’t be used to gauge improving economic conditions on a forward-looking basis.
Market Misperceptions
By , US News, 07/02/2010
MarketMinder's View: “The fragile economic recovery is in trouble.” Really? We’d have to disagree. Globally, the economic recovery is on strong ground and getting stronger. Folks who believe this are focusing on narrow trouble spots. But there is weakness even during the best of times. For more, see our 07/01/2010 cover story, “Negative Needles in Positive Haystacks.”
Sensible Stories
By , The Motley Fool, 07/02/2010
MarketMinder's View: “Right now, investors can jump at the wiggles of the market, assuming like Chicken Little that the sky is falling. Or they can recognize that in the midst of all of this there are very high-quality businesses selling at very attractive prices.” Agreed. For more, see our 06/30/2010 cover story, “A Chicken Little Sort of Day?”
Sensible Stories
By , USA Today, 07/02/2010
MarketMinder's View: Good news emerges from China as its economy grew stronger than most believed in 2009.
Sensible Stories
By , The Australian, 07/02/2010
MarketMinder's View: Just a short time ago, folks clamored sovereign debt fears would derail the global recovery—it looks as though those fears are likely easing.
Sensible Stories
By , The Wall Street Journal, 07/02/2010
MarketMinder's View: Free trade lives on! A positive for the global economy.
Market Misperceptions
By , MarketWatch, 07/02/2010
MarketMinder's View: Another argument expressing malaise over current economic conditions. Pay equal (or more) attention to the vast amount of positive data available. For more, see today’s cover story, “Negative Needles in Positive Haystacks.”
Market Misperceptions
By , Minyanville, 07/02/2010
MarketMinder's View: Folks who see bears everywhere are reacting to 2008, not 2010, conditions. For more, see our 07/1/2010 cover story, “All Else Is Never Equal.” 
Market Misperceptions
By , The Wall Street Journal, 07/02/2010
MarketMinder's View: This could be due to a plethora of reasons further showcasing how fickle unemployment numbers can be. The job market will recover, right after the economy does.
Sensible Stories
By , Associated Press, 07/01/2010
MarketMinder's View: A bit slower, but still growing!
Market Misperceptions
By , Daily Finance, 07/01/2010
MarketMinder's View:
Er, no. Exactly wrong. We should all learn from fast-growing Emerging Markets—who are dropping trade barriers, lowering taxes, and making their nations more business-friendly.
Market Misperceptions
By , Associated Press , 07/01/2010
MarketMinder's View:
Please remember even real estate analysts expected sales to fall after the tax credit expired in April. These numbers are apt to be volatile—don’t read too much into them. See our 06/24/2010 cover story, “Housing Tax-Credit Hangover,” for more.
Sensible Stories
By , MarketWatch, 07/01/2010
MarketMinder's View: "With the exception of organizations in the government and non-profit sector, employers are looking six months ahead and apparently do not see a reason to make additional reductions in payrolls.” More evidence the world is recovering. Plus, firms are still sitting on record amounts of cash—a good indicator of future spending on headcount, R&D, etc. All bullish. For more, see our 06/14/2010 cover story, “Cashlandia.”
Sensible Stories
By , The New Republic, 07/01/2010
MarketMinder's View: Some terrific, rational views on why this recovery is stronger than most can fathom.
Sensible Stories
By , The Globe and Mail, 07/01/2010
MarketMinder's View: The “S” in PIIGS completed an oversubscribed bond auction in spite of Moody’s threat to lower their credit rating—further evidence PIIGS are nowhere near as troubled as folks fear. And more reason to re-evaluate the credit agencies' influence (or lack thereof). For more, see our 04/12/2010 cover story, “Extra-Special Bulletproof.”
Market Misperceptions
By , CNN Money, 07/01/2010
MarketMinder's View:
…the second half can be better. Through history, there are ample examples of years that hit negatives in the first half and still finished nicely positive. And every positive year since 2004 was negative at some point in the second half—including 2009! For more, please see today’s cover story, “All Else is Never Equal.”
Sensible Stories
By , The New York Times, 07/01/2010
MarketMinder's View: Emerging Markets continue to be a leading force in the recovery. For more, see the 06/11/2010 cover story, “Improvements for the Average João.”
Market Misperceptions
By , The Wall Street Journal , 07/01/2010
MarketMinder's View:
This week’s increase was driven—literally—by bus drivers, cafeteria workers, and others who lost jobs due to seasonal factors (aka school vacation). Another example of how distorted employment numbers can be.
Market Misperceptions
By , CNN Money, 07/01/2010
MarketMinder's View:
It’s all around us—including those points quickly dismissed in the first paragraph of the story. While the positives highlighted are real, you don’t need to look to Uganda to find growth.
Sensible Stories
By , Telegraph, 07/01/2010
MarketMinder's View: “There is an awful lot of this ‘data mining’ going on at the moment; if you look at the tea leaves for long enough, you'll always find something ominous and familiar in the patterns.” The pessimism of disbelief debunked. For more, please see our 01/25/2010 cover story, “Pessimism of Disbelief.”