Home → Fisher Investments MarketMinder Headlines → 10-2010 Archives

Sensible Stories
By , International Business Times , 10/29/2010
MarketMinder's View: “History indicates, but does not guarantee, that once the uncertainty of the mid-term elections has ended, the equity market breathes a sigh of relief and begins a meaningful move higher.” Exactly. The increased gridlock that tends to follow midterms is usually good news for stocks.
Market Misperceptions
By , The Globe and Mail, 10/29/2010
MarketMinder's View:
Ah, Dr. Doom is at it again. Who’s surprised by his overly dour outlook on the US economy? Such sensational headlines (with little supporting evidence or acknowledgement such forecasts have been wrong for some time now) contribute to the wall of worry stocks love to climb.
Sensible Stories
By , The Wall Street Journal, 10/29/2010
MarketMinder's View: EU leaders are taking matters into their own hands as a plan for a permanent bailout fund is put into place—this is worth keeping an eye on.
Sensible Stories
By , The Wall Street Journal, 10/29/2010
MarketMinder's View: And to think, a few years ago people feared auto giant GM was dead! Even the beleaguered automakers are making strides paying back the US government.
Sensible Stories
By , The Wall Street Journal, 10/29/2010
MarketMinder's View: The EU gets some positive news as the outlook on manufacturing largely improves.
Sensible Stories
By , Bloomberg, 10/29/2010
MarketMinder's View: A pleasant surprise: US GDP grew in Q3 largely driven by consumer spending—a welcoming sign the consumer is alive and well as the recovery continues. For more, see our 10/27/2010 cover story, “All Is Never Well.”
Market Misperceptions
By , Bloomberg, 10/29/2010
MarketMinder's View: This article lays out many worst-case scenarios for the economy without any logical assessment of the probabilities of these scenarios unfolding. In our view, these risks have exceptionally low probabilities of occurring over any timeframe that matters to stocks. For more, see our 10/26/2010 cover story, “Currency ‘Clash.’”
Market Misperceptions
By , CNN Money, 10/29/2010
MarketMinder's View: Don’t fret. A second round of QE isn’t necessary to sustain economic growth, and if executed, the small scale of the program will likely have very little impact. For more, see our 10/28/2010 cover story, “In Queue, QE2.”
Market Misperceptions
By , Barron’s, 10/29/2010
MarketMinder's View: We’d hardly agree markets have been running on “liquid courage.” Rather, stocks’ recent rise seems quite sober to us. Now is a good time to stay disciplined in the market and reap the benefits.
Sensible Stories
By , Daily Finance, 10/28/2010
MarketMinder's View: Looks like this “watched pot” is starting to bubble and numbers are moving in the right direction. See our 08/05/2010 cover story, “A Watched Pot Still Boils,” for more.
Sensible Stories
By , The Wall Street Journal, 10/28/2010
MarketMinder's View: Countries worldwide are putting free trade agreements in place. Fortunately, this puts pressure on the US to move forward with our languishing free trade agreements. See our 08/10/2010 cover story, “Got It Made With Global Trade,” for more.
Market Misperceptions
By , Barron’s, 10/28/2010
MarketMinder's View:
Investing can be uncomfortable, especially when markets are volatile. But continuously employing hedging techniques to try to tame market volatility can be extremely costly and a huge drag on returns.
Sensible Stories
By , RTT News, 10/28/2010
MarketMinder's View: “Most important reason for this improvement was increased financing needs for inventories and working capital.” Encouraging news from eurozone businesses. For more, see our 10/15/2010 cover story, “We’re All Jelly Donuts.”
Sensible Stories
By , The Atlantic, 10/28/2010
MarketMinder's View: QE2, if enacted, will likely lack the “shock-and-awe” of 2009’s first round, as it should considering the economy is on much more stable ground today than during the financial panic. For more, see today’s cover story, “In Queue, QE2.”
Market Misperceptions
By , The Wall Street Journal, 10/28/2010
MarketMinder's View:
Whether we’d be better off on the gold standard is debatable, but it’s wrong to think the gold standard is the cure to all economic ills.
Market Misperceptions
By , Telegraph, 10/28/2010
MarketMinder's View:
Eurozone countries are having to make tough choices, but the region overall is on more stable ground. For more, see our 05/07/2010 cover story, “The Only Thing to Fear Is…Fear!”
Sensible Stories
By , Financial Times, 10/27/2010
MarketMinder's View: The good news is the tone of trade talks between the US and China shifted from “currency wars” to “good progress.” The bad news is politicians (the world over) are still fixated on the fictitious idea of “currency equilibrium.” For more, see our 10/26/10 cover story, “Currency Clash.”
Sensible Stories
By , Reuters, 10/27/2010
MarketMinder's View: Orders for US manufactured goods exceeded expectations in September—another bullish sign for the remainder of 2010.
Market Misperceptions
By , International Business Times, 10/27/2010
MarketMinder's View:
This is a great example of the prevailing dour market sentiment today. The article notes GDP is expected to grow in Q3 and consumers are continuing to spend, but somehow deflation is going to derail the recovery because consumer prices remained unchanged for two months in a row?
Sensible Stories
By , Reuters, 10/27/2010
MarketMinder's View: The Fed may or may not engage in additional quantitative easing, but either way, neither will likely be harmful given current conditions. For more, see our 10/13/10 cover story, “More Monetary Easing?”
Market Misperceptions
By , The Wall Street Journal , 10/27/2010
MarketMinder's View:
If we’ve learned one thing this year, it’s that the problems in Greece are serious—but not significant enough to impact the global economy at large. What economically happens in Greece, stays in Greece.
Market Misperceptions
By , Bloomberg, 10/27/2010
MarketMinder's View:
The record $1 trillion war chest of cash shows US firms are leaner and more efficient than ever, not anxious about growth. A trillion is an enormous amount of money that takes time to diffuse across the economy as firms spend on capital expenditures, R&D—and yes, hiring. Patience people!!!
Sensible Stories
By , Associated Press, 10/27/2010
MarketMinder's View: German unemployment dropped below levels not seen since November 2008. If it can happen in Germany, why not in the rest of the world? For more, see our 10/15/2010 cover story, “We’re All Jelly Donuts.”
Market Misperceptions
By , MarketWatch, 10/27/2010
MarketMinder's View:
Ignore the zombie bit—calling Fed Chairman Bernanke a “desperate zombie” is a touch unfair. Skip to the more cogent part about the third year of a presidential cycle being historically strong for stocks and gold offering no safe haven for investors.
Market Misperceptions
By , Daily Finance, 10/27/2010
MarketMinder's View:
Simply, no. The government is allowing markets to function freely. Protectionists falsely believe keeping all jobs on US soil increases “the economic security of its citizens.” But in fact, protectionist policies ensure innovation and efficiency gains stop—often hurting the people they are intended to help.
Sensible Stories
By , Bloomberg, 10/27/2010
MarketMinder's View: Spain emerged from recession and embraced austerity—decreasing their budget deficit an impressive 42% in the first nine months of this year. It’s hard to imagine that earlier in 2010, many believed the PIIGS would be the eurozone’s downfall.
Market Misperceptions
By , The Globe and Mail , 10/27/2010
MarketMinder's View:
Lingering doubts about economic recovery, despite a mountain of evidence to the contrary, is actually bullish! Stocks can rise and bull markets can run—even in an imperfect world. For more, see today’s cover story, “All Is Never Well.” 
Sensible Stories
By , The Independent , 10/27/2010
MarketMinder's View: The UK continues to economically surprise on the upside. For more, see our 10/21/10 cover story, “No Pain, No Gain for Ye Olde Brits.”
Market Misperceptions
By , The New York Times, 10/26/2010
MarketMinder's View:
More proof credit rating agencies and their ratings don’t tell investors much about anything—this agency raised its rating after the UK reported better-than-expected economic growth, not before.
Sensible Stories
By , The Wall Street Journal, 10/26/2010
MarketMinder's View: Despite recent worries about the PIIGS, the eurozone continues its economic recovery just fine.
Market Misperceptions
By , The Wall Street Journal, 10/26/2010
MarketMinder's View:
Using “indicators” like the VIX to guide investing decisions could hurt more than help. The VIX is at worst a lagging indicator and at best a coincident one—and tells nothing about future stock market movements.
Sensible Stories
By , Telegraph, 10/26/2010
MarketMinder's View: More proof the global economy continues to recover at a faster pace than many expect.
Market Misperceptions
By , International Business Times, 10/26/2010
MarketMinder's View:
Actually, history has shown repeatedly markets cheer gridlock since there’s less chance any disruptive legislation will be passed. See our 09/28/2010 cover story, “Gridlock on the Beltway,” for more.
Market Misperceptions
By , Bloomberg, 10/26/2010
MarketMinder's View:
Actually, every drop of evidence points to free trade being a massive, net positive globally. And the last attempt to stifle free trade (Smoot-Hawley) was an unmitigated disaster. See our 10/08/2010 cover story, “Protectionist Hot Air,” for more.
Sensible Stories
By , The Motley Fool, 10/26/2010
MarketMinder's View: “No one—not even economists—fully understands how a complex, adaptive system like the US economy really works.” Exactly. Don’t forget—economists (even Nobel Prize winners) can be fooled by the complexity of the global economy.
Sensible Stories
By , USA Today, 10/26/2010
MarketMinder's View: Ignore the headline. This article highlights several major reasons why the US economic and stock market recovery will likely continue.
Sensible Stories
By , The Washington Times, 10/25/2010
MarketMinder's View: Precisely. The Smoot-Hawley Act ended up doing only bad for the economy. While solutions like this can seem politically expedient, they’re not the answer.
Market Misperceptions
By , The Economist , 10/25/2010
MarketMinder's View:
Gridlock? Good news! The market actually loves political gridlock. History shows equities love political gridlock. And, great news, the whole world is getting more gridlocked! For more, see our 09/28/2010 cover story, “Gridlock on the Beltway.”
Market Misperceptions
By , MarketWatch, 10/25/2010
MarketMinder's View:
This is good news—but keep in mind, the housing market needn’t bounce back huge for the economy to grow or markets to rise. For more, see our 09/28/2010 column, “Don’t Wait on Housing.”
Sensible Stories
By , The Globe and Mail, 10/25/2010
MarketMinder's View: Stocks are cheap and opportunities abound? Sure seems that way. For more, see our 10/01/2010 cover story, “No September Slump.”
Market Misperceptions
By , Daily Finance, 10/25/2010
MarketMinder's View:
We weren’t aware it was supposed to. Near term, currency movements are meaningless. Longer term, they don’t dictate market direction.
Market Misperceptions
By , The Washington Post, 10/25/2010
MarketMinder's View: We rather doubt the economy takes a turn for the worse in 2012, but anything can happen—and that’s still 2 years away! But the global economy won’t tank because of campaigning US politicians. The US economy is less than 25% of the world!
Sensible Stories
By , Bloomberg, 10/25/2010
MarketMinder's View: Sustained deflation continues to look like less and less of a risk.
Market Misperceptions
By , Bloomberg, 10/25/2010
MarketMinder's View:
Yet exports are still growing, and at a terrific pace! That the growth rate has cooled a bit from earlier, much faster levels isn’t alarming.
Sensible Stories
By , The Wall Street Journal, 10/22/2010
MarketMinder's View: Emerging Markets continue to lead the global economic recovery.
Market Misperceptions
By , The New York Times, 10/22/2010
MarketMinder's View: Don’t expect much to come out of the G-20 summit as usual, but the mere suggestion countries should inhibit global trade—a key component of the global economic recovery—by setting arbitrary trade balance targets is bad economic policy.
Sensible Stories
By , The Wall Street Journal, 10/22/2010
MarketMinder's View: Germany’s economic recovery continues—a positive sign the global economic recovery remains on track. See our 10/15/2010 cover story, “We’re All Jelly Donuts,” for more.
Market Misperceptions
By , International Business Times, 10/22/2010
MarketMinder's View: “Trade policy gets at the root of why the global economy is not growing right now.” Wrong, wrong, wrong. The global economy is growing nicely. And the notion countries with trade surpluses just stash cash away so it can’t be spent is preposterous. They invest that money, allowing countries like the US to borrow at low rates, and it’s spent elsewhere.
Sensible Stories
By , Bloomberg, 10/22/2010
MarketMinder's View: PIIGS fears have contributed mightily to market volatility this year. The realization PIIGS don’t pose a threat to the global economy should allow investors to focus on the growing global economy and positive market fundamentals. See our 06/15/2010 cover story, “We’re Not Out of the PIIGS Pen, Yet,” for more.
Sensible Stories
By , TheStreet, 10/22/2010
MarketMinder's View: “As long as there are brilliant, hard-working people with dreams, there will always be an undying entrepreneurial thirst that can only be quenched by free markets.” Yay for capitalism!
Market Misperceptions
By , Daily Finance, 10/22/2010
MarketMinder's View: Typical negative spin on positive news. Growth is growth—sometimes it’s faster, sometimes slower, but what matters is that the US economy is growing. And the global economy is growing even faster.
Market Misperceptions
By , The Motley Fool, 10/22/2010
MarketMinder's View: As this article rightly points out, there’s a big difference between a government saying it’s going to do something and actually doing it. Many investors now think gold provides “protection” against any sort of economic calamity. But when folks fail to see an asset’s risk, it’s often risky to invest in that asset.
Market Misperceptions
By , Seeking Alpha, 10/21/2010
MarketMinder's View: We’re confused about how a classic lagging indicator screams anything about any sort of forward-looking expectations. Yes, unemployment is agonizing for those who are unemployed, but it is utterly useless as a forward-looking capital markets indicator.
Sensible Stories
By , MSN Money, 10/21/2010
MarketMinder's View: “Because periods of deep underperformance tend not to last long, and they are typically followed by periods of massive outperformance by the stock market.” Couple that with midterms gridlock, and stocks should have plenty of room to grow.
Market Misperceptions
By , Reuters, 10/21/2010
MarketMinder's View: OK, but how people “feel” about the economy has nothing to do with how an economy is actually doing. Globally, GDP is expanding and expectations are for continued growth
Sensible Stories
By , CNN Money, 10/21/2010
MarketMinder's View: We concur—four excellent points supporting this bull market and why sentiment’s role in the stock market is overblown. For more, see our 09/07/2010 cover story, “Dumb Bears.”
Sensible Stories
By , Associated Press , 10/21/2010
MarketMinder's View: Some will spin this to say growth is “slowing.” In our view, all signs point to continued expansion.
Market Misperceptions
By , Bloomberg, 10/21/2010
MarketMinder's View: Or better yet—it’s like “Back to the Future.” We should all buy DeLoreans, convert them to time machines, and get stock picks from the future. Even if this were true, what can anyone hope to do with a decent indicator that predicts movement in a faulty stock index over the next 2 to 6 days? It doesn’t say how much stocks will move or what the long-term trend is. Utterly useless for anyone investing capital long term.
Market Misperceptions
By , Telegraph, 10/21/2010
MarketMinder's View: Austerity cuts aren’t great. But this is all very backward-looking. Plus, it focuses solely on the negative side of spending cuts and not at all on the upside of increased privatization. For more, see today’s cover story, “No Pain, No Gain for Ye Olde Brits?”
Sensible Stories
By , The New York Times, 10/21/2010
MarketMinder's View: Chinese growth continues apace even as Chinese authorities attempt to prevent overheating. We see nothing so scary about robust growth from an Emerging Market—it’s to be expected. For more, see our 10/20/2010 cover story, “The Great Monetary Wall.”
Sensible Stories
By , Portfolio.com, 10/20/2010
MarketMinder's View: Industrial companies are finding “pockets of growth in the still-uncertain US economy” and that “emerging market demand had offset continued weakness at home”—a bullish signal.
Sensible Stories
By , The Wall Street Journal, 10/20/2010
MarketMinder's View: Onerous taxes on US corporations repatriating foreign gains are a great example of ill-conceived economic policy. This makes so much darn sense, it’s no wonder politicians can’t imagine doing it.
Sensible Stories
By , MarketWatch, 10/20/2010
MarketMinder's View: A little more confidence in Emerging Markets, which are leading the global economic recovery, shows increased risk appetite—good news for equities. For more, see our 10/07/2010 cover story, “Surge of the Emerging.”
Market Misperceptions
By , Bloomberg, 10/20/2010
MarketMinder's View:
China’s interest rate increase surprised investors and fueled the conflicted monetary debate over whether China will do too much or too little. For more, see today’s cover story, “The Great Monetary Wall.”
Market Misperceptions
By , Foreign Policy, 10/20/2010
MarketMinder's View:
Ignore the assertion unemployment is the “best barometer a country has about the state of its economy.” Unemployment is a lagging statistic that tells us little about the present and less about what’s to come.
Market Misperceptions
By , Morningstar, 10/20/2010
MarketMinder's View:
Concentrating a stock portfolio in one country—even one as big as the US—is a common investor mistake that increases, not decreases, risk.
Market Misperceptions
By , Seeking Alpha, 10/20/2010
MarketMinder's View:
We’d advise against relying on technical analysis to forecast stocks. For more, see our 10/18/2010 cover story, “A Recent History of Technical Analysis’ Recent History Lessons.” 
Sensible Stories
By , Bloomberg, 10/20/2010
MarketMinder's View: It turns out TARP wasn’t the disaster many feared and actually earned the government $25.5 billion on its $309 billion investment. For more, see our 10/04/2010 cover story, “One Less Four-Letter Word.”
Market Misperceptions
By , Time, 10/20/2010
MarketMinder's View:
“The idea of civil war over economic issues doesn't seem that far-fetched these days.” This shows just how dour sentiment is right now—not only is the idea far-fetched, it’s utterly ridiculous.  
Sensible Stories
By , RTT News, 10/20/2010
MarketMinder's View: Strong economic growth continues for our neighbors to the north. Canadian wholesaler sales handily beat expectations in August and are up over 7.5% year-over-year.
Market Misperceptions
By , American Thinker, 10/19/2010
MarketMinder's View: Exceptionally loose monetary policy can result in distortions if left in place too long, but extremely low interest rates and an inflated Fed balance sheet are appropriate in the current economic environment.
Market Misperceptions
By , Minyanville , 10/19/2010
MarketMinder's View:
Again, spinning positive retail news to foster fear. Bottom line: The retail industry is recovering and the consumer is alive and well.
Sensible Stories
By , International Business Times, 10/19/2010
MarketMinder's View: Developing economies continue to lead the global economic recovery.
Market Misperceptions
By , Investor’s Business Daily, 10/19/2010
MarketMinder's View: Sure, this doesn’t seem much like positive news, but economic indicators such as this fluctuate month to month and hardly tell us much about the market overall. For more, see today’s cover story, “Production Chugs Along.”
Sensible Stories
By , Reuters, 10/19/2010
MarketMinder's View: China’s central bank is taking measures to ward off inflation—this is worth keeping an eye on.
Market Misperceptions
By , CNBC, 10/19/2010
MarketMinder's View: So German austerity is bad but so is overspending in the US? This is the pessimism of disbelief at work. For more, see our 10/15/2010 cover story, “We’re All Jelly Donuts.”
Sensible Stories
By , Moneywatch, 10/19/2010
MarketMinder's View: “Unfortunately, the evidence from academic studies is that individuals invest as if driving forward while looking at their rear view mirror. They buy after periods of strong performance and sell after markets have experienced steep losses.” Exactly. Don’t look so hard in your rear view mirror—it’s a sure way to miss out on strong market returns.
Sensible Stories
By , Bloomberg, 10/19/2010
MarketMinder's View: Home construction is on the rise as the housing market shows signs of stabilizing.
Market Misperceptions
By , Wall Street Journal, 10/18/2010
MarketMinder's View:
This title is incorrect. It should be “Pension Funds Fled Stocks.” Yep! They did, and so did a lot of investors during the bear market. And a great time to buy stocks is when demand is low, not the reverse.
Market Misperceptions
By , Seeking Alpha, 10/18/2010
MarketMinder's View:
First it was May, then September, and now it’s November? One month is never inherently worse than any other month. Ignore these silly investing myths. For more, see our 10/01/2010 cover story, “No September Slump.”
Market Misperceptions
By , Bloomberg, 10/18/2010
MarketMinder's View:
Sure, production numbers may ebb and flow from month to month, but this hardly means production is cooling off—particularly after the strong gains we’ve seen.
Market Misperceptions
By , The New York Times, 10/18/2010
MarketMinder's View:
There’s a lot puzzling about this article. For one, we could mine our own rare earths, but we don’t. Why? We can get them cheaper and easier from China. Good for China! And good for us! Their mining activity creates jobs there and allows for greater productivity here. We fail to understand what is so bad about that.
Sensible Stories
By , The Wall Street Journal, 10/18/2010
MarketMinder's View: The consumer lives! Consumers are healthier than most people realize, particularly at the global level.
Sensible Stories
By , SME Times, 10/18/2010
MarketMinder's View: Global exports over the past several months are up—evidence of the ongoing economic recovery.
Sensible Stories
By , Bloomberg, 10/18/2010
MarketMinder's View: Many still have a strong appetite for US debt—August saw a significant increase, with China remaining the top holder of US Treasuries for the second straight month.
Market Misperceptions
By , CNN Money, 10/18/2010
MarketMinder's View: “Just a few years back it would have been hard to imagine that talk of a full-blown US fiscal crisis would be anything other than fear mongering. Now, however, these scenarios are starting to feel alarmingly possible.” People seem to be missing one key thing—our recovering economy.
Sensible Stories
By , MarketWatch, 10/18/2010
MarketMinder's View: “The index for US consumer prices rose 0.1% in September, supported by gains in food and gasoline.” Core prices were flat. Not deflation, and certainly nothing like hyperinflation.
Market Misperceptions
By , Barron’s, 10/15/2010
MarketMinder's View: “Investors should not assume that the buy-and-hold strategy is back from the dead. One day, the pumps will run dry.” There are always, always risks. That’s nothing new. But investors must decide if near-term risks are worth the greater likelihood of superior long-term returns in stocks.
Market Misperceptions
By , MarketWatch, 10/15/2010
MarketMinder's View: Unemployment is painful. However, high unemployment is just normal following recessions. Historically, first the economy recovers, then the job market. For more, see our 10/11/2010 cover story, “It’s USA. Not USSA.”
Market Misperceptions
By , CNN Money, 10/15/2010
MarketMinder's View: True! Plus, we don’t need any magic. We are very near (if not in fact higher than) the past peak in economic output. Globally, we’ve passed the previous peak!
Sensible Stories
By , Daily Finance, 10/15/2010
MarketMinder's View: Folks fearing the Fed is out of ammo are just wrong. The Fed has many tools at its disposal.
Sensible Stories
By , Bloomberg, 10/15/2010
MarketMinder's View: Weakened consumer spending fears continue to be proven wrong. Consumers aren’t dead, but alive and well!
Market Misperceptions
By , Reuters, 10/15/2010
MarketMinder's View: An all-out trade war is a lose-lose situation for any country, and knowing this, they won’t likely engage in one anytime soon.
Sensible Stories
By , CNBC, 10/15/2010
MarketMinder's View: Yes, yes, yes. This is a terrific take on why bears seem more “popular” than bulls.
Sensible Stories
By , The Wall Street Journal, 10/15/2010
MarketMinder's View: The Emerging Markets’ robust economic recovery continues to manifest in stock returns.
Market Misperceptions
By , The New York Times, 10/14/2010
MarketMinder's View:
This is likely to turn into a finger-pointing blame game, but is it enough to derail stocks’ forward momentum? Not likely.
Market Misperceptions
By , The Guardian, 10/14/2010
MarketMinder's View:
It is consumer confidence this article discusses, not spending statistics. Watch what consumers do, not what they say they’re going to do—the latter is very fickle and a poor indicator of future spending behavior.
Sensible Stories
By , Telegraph, 10/14/2010
MarketMinder's View: The adage “necessity is the mother of invention” comes to mind. During tough times, human resilience and innovation rise to the occasion.
Sensible Stories
By , SmartMoney, 10/14/2010
MarketMinder's View: “While the stock market can do almost anything in the short term, in the long term, returns stick closer to historical averages, so the analysts who express this view have math, and history, on their side.” Exactly. We couldn’t agree more!
Sensible Stories
By , The Motley Fool, 10/14/2010
MarketMinder's View: “So if gold isn't really a commodity or a currency then what is it? It's a fear gauge. When investors are feeling fearful about the future, they turn to gold.” Enough said. For more, see our 02/12/2010 cover story, “Gold’s Safety Blanket Myth.”
Market Misperceptions
By , Seeking Alpha, 10/14/2010
MarketMinder's View: “The experts say the Fed QE2 will have only approximately a +.2% effect on GDP.” Is that so? The “experts” can somehow forecast the impact of a program of unknown size and composition that hasn’t been announced yet. Simply amazing. Totally ridiculous, but amazing.
Market Misperceptions
By , International Business Times, 10/14/2010
MarketMinder's View:
The implication here is a double dip is coming and the government needs to do something about it. We say hogwash. The global economy is growing nicely, the financial system is on much more solid ground, corporate balance sheets are healthy and earnings booming, and global trade has reaccelerated. These and many other factors indicate the chance of a double dip is exceptionally low.
Sensible Stories
By , Bloomberg, 10/14/2010
MarketMinder's View: Fears about the US trade gap are misguided. Fact is, strong demand for foreign goods reflects an improving economy. And global trade is booming—a positive sign for the global economy.
Sensible Stories
By , The Economist , 10/13/2010
MarketMinder's View: Germany continues to lead the recovery in Europe—posting impressive growth figures that are some of the best since reunification.
Market Misperceptions
By , Blogging Stocks, 10/13/2010
MarketMinder's View:
Maybe this is the Fed’s work—but the Fed hasn’t changed its monetary stance over the period in question. The euro crisis (likely more responsible for prior dollar gains) has ended and since driven dollar weakness. Long term, neither matters much for global investors—currency movements cancel over time.
Sensible Stories
By , The Wall Street Journal , 10/13/2010
MarketMinder's View: Eurozone industrial production beat expectations in August as this sector continues to play an important role in the European (and global) recovery.
Sensible Stories
By , The Big Picture, 10/13/2010
MarketMinder's View: Here’s a sensible reflection: “The bottom line remains: Excessive pessimism, under-invested Main St, a gradually improving economy, backwards looking sentiment, and a flood of liquidity continues to make it challenging to be short this market.” For more, see our 10/01/2010 cover story, “No September Slump.”
Sensible Stories
By , MarketWatch, 10/13/2010
MarketMinder's View: Quantitative easing may or may not be needed, but likely won’t be detrimental if enacted. For more, see today’s cover story, “More Monetary Easing?”
Market Misperceptions
By , The New York Times, 10/13/2010
MarketMinder's View:
Segments of the economy continue to struggle, but broad recovery is further along than many are willing to admit. For more, see our 09/29/2010 cover story, “The Semantics of Recovery.”
Market Misperceptions
By , The Wall Street Journal , 10/13/2010
MarketMinder's View:
It’s nice this article concedes the VIX is not “gospel.” But we’d take this sentiment a step further and remind readers the VIX is useless as a predictive measure for stocks.
Sensible Stories
By , Bloomberg, 10/13/2010
MarketMinder's View: Treasury Secretary Geithner acknowledged China needs “independence” to set its own economic policy. This is a welcome break from harsh commentary on China recently heard inside the beltway. For more, see our 09/30/2010 cover story, “The Threat of Tit for Tat.”
Market Misperceptions
By , Guardian, 10/13/2010
MarketMinder's View:
Folks sure are dour. One month of declining exports in the UK doesn’t necessarily signal “an end to a resurgence” for the British economy.
Market Misperceptions
By , Associated Press, 10/12/2010
MarketMinder's View:
A forecast is simply a best guess as to what will happen—and often, as is the case here, that guess is predicated on what’s just happened, not what’s most likely to come.
Sensible Stories
By , The New York Times, 10/12/2010
MarketMinder's View: Though we think proposed tax policy changes won’t make or break the economy or market, here’s a great article detailing why higher taxes can be detrimental. See today’s cover story, “Of Taxes and Politics,” for more.
Market Misperceptions
By , Blogging Stocks, 10/12/2010
MarketMinder's View:
Finance firms invest in human capital to stay competitive. There will be smart and questionable investments, but banks know their business best and should be free to determine compensation.
Sensible Stories
By , Guardian, 10/12/2010
MarketMinder's View: Just like any economic indicator, this will have its quirks and bugs. But technology improving the timeliness of economic data can help improve market efficiency.
Sensible Stories
By , The Wall Street Journal, 10/12/2010
MarketMinder's View: The minutes from the Fed’s latest meeting confirm the central bank is debating how best to support recovery. For more, see our 09/22/2010 cover story, “Skin and Bones.”
Market Misperceptions
By , Telegraph, 10/12/2010
MarketMinder's View:
The US isn’t in such dire straits, but it needn’t tow the world anyway. Emerging Markets economies—which are posting fast growth—are together bigger than the US and only a little smaller than Europe.
Sensible Stories
By , Financial Times, 10/12/2010
MarketMinder's View: Greece received a significant bailout and is largely still staying away from markets. But falling short-term sovereign yields are a step in the right direction.
Sensible Stories
By , The New York Times, 10/11/2010
MarketMinder's View: As legislative uncertainty eases in the back half of presidential terms, stocks tend to do better. Historical precedent alone isn’t reason to be bullish, but added to healthy fundamentals, it makes a strong case.
Sensible Stories
By , Chicago Sun-Times, 10/11/2010
MarketMinder's View: “The most important thing is ‘time in the market,’ not ‘timing the market.’” Amen!
Sensible Stories
By , Fortune, 10/11/2010
MarketMinder's View: Emerging Markets have provided excellent investment opportunities in recent years, but there are still more benefits to be reaped. For more, see our 10/07/2010 cover story, “Surge of the Emerging.”
Market Misperceptions
By , MarketWatch, 10/11/2010
MarketMinder's View:
Along with other endlessly rehashed concerns, unemployment continues to be a hot topic, even as its power to hit markets appears to be waning. For more, see today’s cover story, “It’s USA. Not USSA.”
Sensible Stories
By , The Wall Street Journal, 10/11/2010
MarketMinder's View: It looks like the UK will implement promised budget cuts in some form or another, though monetary policy looks set to continue to be accommodative.
Market Misperceptions
By , The Wall Street Journal, 10/11/2010
MarketMinder's View:
Faster, slower—all recoveries regularly shift gears, and that shifting alone doesn’t tell us much.  
Market Misperceptions
By , Telegraph, 10/11/2010
MarketMinder's View: Tit for tat anti-trade policy only compounds the problem, benefiting nobody. Luckily, amid the rhetoric, we see plenty of free trade progress. For more, see our 09/16/2010 cover story, “Protectionist Hot Air.”
Market Misperceptions
By , CNN Money, 10/11/2010
MarketMinder's View:
Dow 11,000 is just another meaningless milestone investors shouldn’t get wrapped up in too much.
Market Misperceptions
By , Bloomberg, 10/08/2010
MarketMinder's View:
The same old worries seem to be losing their bite. Markets have lately moved ahead despite still-high unemployment, new PIIGS headlines, housing’s continued struggles, etc.    
Sensible Stories
By , The Motley Fool, 10/08/2010
MarketMinder's View: Don’t be fooled by the headline. We agree “if you equate volatility with risk, you probably shouldn’t be investing.” Short-term volatility is uncomfortable, but those who can look long term are duly rewarded.
Sensible Stories
By , The Associated Press, 10/08/2010
MarketMinder's View: Businesses are replenishing their inventories as sales increase—both positive signs for the recovering economy.
Market Misperceptions
By , BusinessWeek, 10/08/2010
MarketMinder's View: Analysts often miss the mark to the low side. 75% of reporting S&P 500 firms beat analyst expectations in Q2—the third consecutive quarter of 30%+ profit growth! Easing off that stellar (and rare) earnings pace hardly spells doom for stocks.
Market Misperceptions
By , New York Times , 10/08/2010
MarketMinder's View: Not seeing “ any light at the end of this tunnel” exemplifies just how dour folks are right now. Pervasive negative sentiment against a backdrop of improving fundamentals is bullish.
Sensible Stories
By , The Globe and Mail, 10/08/2010
MarketMinder's View: Japan continues efforts to stimulate its economy. For more, see our 10/06/2010 cover story, “Japan’s QE and ZIRP.”
Sensible Stories
By , The Wall Street Journal, 10/08/2010
MarketMinder's View: While public sector hiring has distorted unemployment data all year, the underlying picture is more encouraging. For more, see our 9/24/2010 cover story, “Reading Between the Unemployment Lines.”
Sensible Stories
By , Blogging Stocks, 10/08/2010
MarketMinder's View: It’s true that “one positive or negative data point doesn’t make a trend.” But the rise in core durable goods bodes well for Q4 business investing and continued economic recovery.
Sensible Stories
By , Reuters, 10/08/2010
MarketMinder's View: With financial reform in the books, regulators are beginning to implement its provisions. Uncertainty should wane as more details emerge.
Sensible Stories
By , The Wall Street Journal, 10/07/2010
MarketMinder's View: Signs point toward recovery and this is no exception. Germany’s economy is expanding and industrial production was up 1.7% in August from the prior month.
Sensible Stories
By , Associated Press, 10/07/2010
MarketMinder's View: Consumers are alive and well! A recent influx of back-to-school shopping provides a positive outlook for the upcoming holiday season.
Market Misperceptions
By , Telegraph, 10/07/2010
MarketMinder's View:
Ireland is in headlines yet again for another downgrade—little has changed and all this does is put the most recent downgrade in line with others. For more, see our 08/27/2010 cover story, “Troubles on Emerald Isle?”
Sensible Stories
By , Bloomberg, 10/07/2010
MarketMinder's View: Global exchange rates are a hot topic, but their impact is mostly overblown. For more, see our cover stories, “Yen-tervention” (09/16/2010) and “Show Me the Yuan” (09/17/2010).
Sensible Stories
By , Reuters, 10/07/2010
MarketMinder's View: Central banks worldwide have made it clear they plan to keep rates accommodative as long as necessary.
Market Misperceptions
By , Financial Times , 10/07/2010
MarketMinder's View:
If EU taxes become too onerous, bankers will simply move elsewhere.
Sensible Stories
By , Business Insider, 10/07/2010
MarketMinder's View: Most banks have plenty of cash to lend, but uncertainty about the economy and regulatory environment has kept purse strings tight. As banks gain confidence and clarity, lending will increase.
Market Misperceptions
By , MarketWatch, 10/07/2010
MarketMinder's View:
The fiscal and monetary response to the financial crisis was swift and huge, but that doesn’t mean it gets everything back to normal immediately. As difficult as it may be, some patience is required. For more, see our 01/14/2009 cover story, “Patience With Punches.”
Market Misperceptions
By , MarketWatch, 10/07/2010
MarketMinder's View:
We’re not nearly on the brink of a currency war. Ignore these so-called “risks.”
Market Misperceptions
By , Dow Jones Newswires, 10/07/2010
MarketMinder's View:
Yes, it’ll be a while until unemployment is back to pre-crisis levels. But employment improvement always lags a broader economic recovery.
Sensible Stories
By , Daily Finance, 10/07/2010
MarketMinder's View: “The expectation for the quarter is that the rebound in corporate profits will continue apace.” This is bullish.
Sensible Stories
By , The New York Times, 10/06/2010
MarketMinder's View: The losses from the government’s response to the financial crisis are significantly less than originally feared. For more, see our 10/04/2010 cover story, “One Less Four-Letter Word.”
Market Misperceptions
By , The Wall Street Journal , 10/06/2010
MarketMinder's View: Once again, ratings agencies simply tell us what bond markets have signaled for a long time. Concerns about a near-term default by Ireland or any of the PIIGS countries are moot with the EU/IMF/ECB bailout package in place.
Sensible Stories
By , BloggingStocks, 10/06/2010
MarketMinder's View: Here’s the bottom line: Protectionist policies are harmful to growth. Imagine if Alexander Hamilton had his way—Massachusetts would still be competing for a share of global shoe manufacturing dollars.
Sensible Stories
By , Bloomberg, 10/06/2010
MarketMinder's View: Employment data show the labor market is restrained by a lack of hiring, not jobs cuts. With massive amounts of cash and an improving economy, businesses will eventually start hiring again. For more, see our 09/24/2010 cover story, “Reading Between the Unemployment Lines.”
Sensible Stories
By , Business Insider, 10/06/2010
MarketMinder's View: The chance of any of the PIIGS countries defaulting near term is basically nil with the EU/IMF/ECB bailout package in place.
Market Misperceptions
By , The Street, 10/06/2010
MarketMinder's View: Please ignore this tour de force of pessimistic and abstract (made up?) signs that are sure to “rapidly and chaotically” derail economic growth.
Market Misperceptions
By , Bloomberg, 10/06/2010
MarketMinder's View:
The latest round of China-bashing from Washington is potentially dangerous for global growth. For more, see our 09/30/2010 cover story, “The Threat of Tit for Tat.”
Market Misperceptions
By , The Globe and Mail, 10/06/2010
MarketMinder's View: The IMF cut its estimate for US growth to 2.6%, regurgitating pessimistic worries that global markets have weathered over and over again. For more, see our 09/10/2010 cover story, “Recycled Pessimism.”
Sensible Stories
By , Associated Press, 10/06/2010
MarketMinder's View: Don’t count the American consumer out—“clothing, electronics and online retailers all enjoyed sales gains in September.”
Sensible Stories
By , Reuters, 10/06/2010
MarketMinder's View: Germany continues to lead the European recovery as German manufacturing orders in August handily beat analysts’ expectations.
Sensible Stories
By , The New York Times, 10/05/2010
MarketMinder's View: Here’s a good look at why concerns regarding a yuan revaluation are overblown and by itself isn’t likely to have the profound impact many expect.
Market Misperceptions
By , Seeking Alpha, 10/05/2010
MarketMinder's View:
Actually, firms are spending—as evidenced by the recent uptick in share repurchases. Over time, companies will spend more of their cash hoard on M&As, growth, etc.—and the overall economy will benefit as all this money moves through the system. For more, see today’s cover story, “Paring Shares.”
Market Misperceptions
By , BloggingStocks, 10/05/2010
MarketMinder's View:
Isn’t this always true? The financial system is a key cog of the global economy. If one is doing poorly, the other likely is too. Fortunately, both are recovering nicely now. See our 09/03/2010 cover story, “A Nice Thought,” for more.
Market Misperceptions
By , Reuters, 10/05/2010
MarketMinder's View:
Ratings agencies have been cutting countries’ credit ratings willy-nilly (particularly for the PIIGS), but investor demand for sovereign debt remains healthy. See our 08/27/2010 cover story, “Troubles on the Emerald Isle?” for more.
Sensible Stories
By , Carpe Diem, 10/05/2010
MarketMinder's View: Makes sense. Businesses pay more taxes if they make more money. States collect more sales tax when people are spending. All good.
Sensible Stories
By , CFO Magazine, 10/05/2010
MarketMinder's View: “The overarching concern among finance executives … is that compliance will impose on banks heavy additional costs that they will pass along to their customers—making financial services, and bank credit, harder to get and more expensive.” Agreed. Onerous and expensive legislation isn’t necessarily the best solution—particularly in the midst of an economic recovery.
Sensible Stories
By , BBC News, 10/05/2010
MarketMinder's View: Expect central banks worldwide to maintain easy monetary policies until the global economy strengthens further.
Market Misperceptions
By , Associated Press, 10/05/2010
MarketMinder's View:
While we agree with Bernanke’s belief that “the government shouldn’t raise taxes or slash spending now because the economic recovery is still too fragile,” we don’t believe the deficit is much to worry about. Eventually, debt accumulation could be a problem, but the US isn’t close to problematic levels presently. For more, see our 06/10/2010 cover story, “Debunking Debt Concerns.”
Sensible Stories
By , Financial Times, 10/04/2010
MarketMinder's View: "However, should the strongest recovery in 25 years be widely considered the worst ever, and should it rationally be portrayed as a ‘new’ normal?” We think not. And rational folks agree.
Market Misperceptions
By , TheStreet, 10/04/2010
MarketMinder's View: Keep in mind that banks are businesses—and well-run businesses succeed and mismanaged businesses fail. Bank failures, especially small regional banks, are typical and should be expected following a credit crisis, and they aren’t a predictor of doom going forward.
Market Misperceptions
By , Huffington Post, 10/04/2010
MarketMinder's View: An interesting spin, but history has shown protectionism is never the weapon of choice. For more, see our 09/30/2010 cover story, “The Threat of Tit for Tat.”
Market Misperceptions
By , Time, 10/04/2010
MarketMinder's View:
Absolutely! Let’s remember, the stock market is a forward-looking discounter, not a confirmation of what just happened.
Market Misperceptions
By , Chicago Breaking Business, 10/04/2010
MarketMinder's View:
“Reluctant” doesn’t mean “won’t.” Consumer spending stayed fairly steady through the recession and has been growing since the recession’s end. For more, see our 08/31/2010 cover story, “Retail Therapy.”
Market Misperceptions
By , Telegraph, 10/04/2010
MarketMinder's View: Last we checked, to have a depression, GDP overall should, at the very least, be shrinking, not growing for the last 15 months. Even with austerity, the EU overall is eking out growth! For more, see our 07/21/2010 cover story, “Dear Prudence.”
Sensible Stories
By , Bloomberg, 10/04/2010
MarketMinder's View: “Manufacturing will remain at the forefront of the recovery as companies use their large cash reserves to update equipment and cut costs.” Those mountains of corporate cash are beginning to be deployed—good news. For more, see our 06/14/2010 cover story, “Cashlandia.”
Sensible Stories
By , Daily Finance, 10/04/2010
MarketMinder's View: Indeed—the deployment of record piles of corporate cash should be a tremendous bullish factor. For more, see our 10/01/2010 cover story, “No September Slump.”
Sensible Stories
By , Fortune, 10/04/2010
MarketMinder's View: “Unloved”—for sure. But it didn’t turn out to be the fiscal disaster so many feared. And now it’s one less thing for investors to worry about—which is good for stocks. For more, see today’s cover story, “One Less Four-Letter Word.”
Sensible Stories
By , Carpe Diem, 10/01/2010
MarketMinder's View: Some rational analysis of ill-advised protectionist overtures in Washington. For more, see our 09/30/2010 cover story, “The Threat of Tit for Tat.”
Sensible Stories
By , CNN Money, 10/01/2010
MarketMinder's View: These numbers add to a wide array of evidence putting fears of an impending double dip (now technically impossible) to bed.
Market Misperceptions
By , Associated Press, 10/01/2010
MarketMinder's View: The market’s “sizzling 11 percent return over the past three months” wasn’t “misguided optimism.” Fundamentals aren’t as bad as sentiment would have us believe. And historically, strong Q3s beget strong Q4s. For more, see today’s cover story, “No September Slump.”
Market Misperceptions
By , The New York Times, 10/01/2010
MarketMinder's View: “…there are worse things than trade conflict.” This from an economist who won a Nobel Prize for his work on the great benefits of free trade. Hopefully, the China spat proves little more than political scapegoating in an election year.
Market Misperceptions
By , The Wall Street Journal, 10/01/2010
MarketMinder's View: Eurozone manufacturing may have slowed. But that’s off surprisingly strong growth on a weak euro. That it’s still growing even as the euro has recovered (a good thing) is what matters.
Sensible Stories
By , CNN Money, 10/01/2010
MarketMinder's View: No one bit of evidence (historical precedent included) is sufficient to accurately forecast stocks. But better-than-perceived fundamentals and “extremely bearish” investor sentiment seem to indicate the backend of 2010 could surprise to the upside.
Market Misperceptions
By , Bloomberg, 10/01/2010
MarketMinder's View: Beware the gold bug! Gold, though pretty and shiny, isn’t the best investment choice for long-term investors—historically, stocks have outperformed gold. See our 02/12/2010 cover story, “Gold’s Safety Blanket Myth,” for more.
Sensible Stories
By , The New York Times, 10/01/2010
MarketMinder's View: “The $700 billion lifeline to banks, insurance and auto companies—will expire after Sunday at a fraction of that cost, and could conceivably earn taxpayers a profit.” Love it or hate it—TARP didn’t turn out to be the spending bonanza widely feared.