Home → Fisher Investments MarketMinder Headlines → 12-2006 Archives

Sensible Stories
By , SmartMoney, 12/30/2006
MarketMinder's View: The media generally focuses on the demand side of the equation, but the supply side is equally important. And 2006 has seen record supply destruction, which is bullish for equities.
Sensible Stories
By , The Wall Street Journal , 12/30/2006
MarketMinder's View: Although we're curious how a strong market makes it more difficult for managers to beat their benchmarks, the third year of this bull market was a good one.
Sensible Stories
By , The Wall Street Journal , 12/30/2006
MarketMinder's View: The situation in Iran is far from over. Oil supply fears will likely continue in 2007, keeping prices high.
Market Misperceptions
By , The New York Times, 12/30/2006
MarketMinder's View: We find it hard to believe outsourcing production will make US companies less innovative.
Market Misperceptions
By , Morningstar, 12/30/2006
MarketMinder's View: While its true that Chinese equities performed admirably this year, be wary of correlating strong economic growth with stock market strength. From 2002 to 2005, the Chinese economy grew nearly 14% a year on a nominal basis. The stock market, however, fell 22% a year.
Market Misperceptions
By , Bloomberg, 12/30/2006
MarketMinder's View: We just don't see this "uncommonly optimistic" sentiment. Last time we checked, most investors were cautious on the prospects for 2007.
Sensible Stories
By , 12/30/2006
MarketMinder's View: Looks like we can tack on the largest telecommunications merger in US history to this year's record M&A activity.
Sensible Stories
By , The Wall Street Journal , 12/29/2006
MarketMinder's View: The market should dictate labor, not unions. Luckily, Big Labor's more ambitious schemes haven't led to much other than steadily declining membership.
Sensible Stories
By , The Wall Street Journal , 12/29/2006
MarketMinder's View: More signs that housing market fears have been vastly overblown.
Sensible Stories
By , TheStreet.com, 12/29/2006
MarketMinder's View: Most strategists are cautiously optimistic for 2007 but may not be optimistic enough.
Market Misperceptions
By , Reuters, 12/29/2006
MarketMinder's View: Our ridiculous headline of the week…
Market Misperceptions
By , Washington Post, 12/29/2006
MarketMinder's View: Now the trade deficit explains the wealth gap? What will they think of next?
Market Misperceptions
By , NPR, 12/29/2006
MarketMinder's View: Sub-prime borrowers have always had the highest default risk, but they only make up a tiny portion of total home loans issued.
Sensible Stories
By , Bloomberg, 12/29/2006
MarketMinder's View: Higher earnings yields and continued M&A activity are positive drivers for European stocks in 2007.
Market Misperceptions
By , CNN Money, 12/28/2006
MarketMinder's View: There are so many myths in this one that we don't have the space to refute them all.
Sensible Stories
By , CNN Money, 12/28/2006
MarketMinder's View: So much for the much ballyhooed housing bubble…
Sensible Stories
By , Bloomberg, 12/28/2006
MarketMinder's View: In a year of surprises—hurricanes that didn't hit, oil that didn't soar to $100 a barrel, a Republican majority in Congress that didn't hold—the non-arrival of inflation was the biggest non-event of all.
Sensible Stories
By , The Wall Street Journal , 12/28/2006
MarketMinder's View: Tax increases and wealth redistribution in any form would be bad for markets.
Market Misperceptions
By , The Financial Times, 12/28/2006
MarketMinder's View: Even a "lack of fear" is reason to be fearful now. Ignore the media's fear mongering and focus on the big picture strength.
Market Misperceptions
By , MSN, 12/28/2006
MarketMinder's View: While we believe foreign investments are vital to any well diversified portfolio, we caution readers from assuming a strong economy necessarily correlates with a strong stock market.
Sensible Stories
By , Reuters, 12/28/2006
MarketMinder's View: A rebound in domestic consumption is one reason to believe the recovery in Japan is here to stay.
Market Misperceptions
By , The Financial Times, 12/27/2006
MarketMinder's View: Dodgy measures of "equity risk premiums" have never held much power to predict future stock returns.
Market Misperceptions
By , The Financial Times, 12/27/2006
MarketMinder's View: This is certainly a geopolitical risk worth keeping an eye on, but the markets weren't exactly nonplussed by Iran's reaction to the UN sanctions.
Market Misperceptions
By , The Wall Street Journal , 12/27/2006
MarketMinder's View: More unimaginative, widely known, rule-based investment strategies…none of which can yield excess returns over time.
Sensible Stories
By , The Financial Times, 12/27/2006
MarketMinder's View: A reminder to be skeptical of even seemingly trustworthy data sources. (See today's commentary "Burning Questions; Scorched Investors".)
Sensible Stories
By , The Wall Street Journal , 12/27/2006
MarketMinder's View: Should we really be surprised the USPS outsources much of its work to the more efficient (and private) FedEx?
Sensible Stories
By , The Wall Street Journal , 12/27/2006
MarketMinder's View: A new Treasury Department analysis finds that wage growth this decade is running ahead of the pace set in the 1990s.
Sensible Stories
By , The New York Times, 12/27/2006
MarketMinder's View: Some salient arguments on why the economy and the housing market aren't likely to fall into a recession anytime soon.
Market Misperceptions
By , USA Today, 12/27/2006
MarketMinder's View: Bottom line: unemployment is at 4.3% and in aggregate companies are again expecting to do more hiring in 2007.
Sensible Stories
By , The Wall Street Journal , 12/23/2006
MarketMinder's View: No meaningful news is good news for stocks. And when a news day is so slow the title of a new book makes the FRONT PAGE of the Journal…we find it bullish.
Sensible Stories
By , NPR, 12/23/2006
MarketMinder's View: Regulators to the rescue! Those smarmy Chimney Sweep fat cats had it coming to ‘em anyway. Monopoly busting isn't just for big corporations anymore.
Market Misperceptions
By , CNNMoney, 12/23/2006
MarketMinder's View: One of the most common misconceptions we see. The US savings rate is highly deceptive because it excludes capital gains, among other things. By this logic, Bill Gates would thus not have saved a penny, ever!
Market Misperceptions
By , MSN, 12/23/2006
MarketMinder's View: We'd say these two cartoons pretty well sum up the prevailing dour sentiment toward corporate execs. (See our 12/18/06 commentary "Rise of the Supervillains".)
Sensible Stories
By , MarketWatch, 12/23/2006
MarketMinder's View: Nobody's perfect. That's why one of the core rules to investing is always to remember you can be wrong and control your risk accordingly.
Sensible Stories
By , The Los Angeles Times, 12/23/2006
MarketMinder's View: They're not greedy, they're overregulated. The result is fewer pills to cure our ills. You'd be a little gun-shy too if every day you faced the prospect of multibillion dollar lawsuits on products you designed to help people, not to mention the decade or more and millions of dollars it usually takes to get a drug approved.
Sensible Stories
By , The Wall Street Journal , 12/23/2006
MarketMinder's View: The consensus is here: 5 to 10% stock returns next year. Simple market theory says the most likely outcome is something other than the priced-in consensus. So, will it be more positive, or more negative than the consensus? Given the myriad positive fundamentals we've consistently outlined on this site, it's safe to say we're looking for another good year for stocks in 2007. (See our past commentary: "Contrary About Contrarians" for more.)
Market Misperceptions
By , The Wall Street Journal , 12/23/2006
MarketMinder's View: If only it were so easy. If such strategies really worked, beating the market would a cakewalk.
Sensible Stories
By , The Washington Post, 12/22/2006
MarketMinder's View: Federal farm subsidies, passed by politicians to preserve a "feel-good" industry, actually promote tremendous inefficiency.
Sensible Stories
By , The Wall Street Journal , 12/22/2006
MarketMinder's View: We couldn't agree more.
Sensible Stories
By , The Wall Street Journal , 12/22/2006
MarketMinder's View: A look into the reasons equity supply increases have been stagnant.
Sensible Stories
By , International Herald Tribune, 12/22/2006
MarketMinder's View: Pay for performance — the compensation is fair, and Goldman's employees have every right to view it as such. Capitalism works because it encourages and rewards those who successfully take risks, adapt to change and develop profitable opportunities. Goldman Sachs employees, arguably, are consistently better at those things than any other group of employees in the world.
Sensible Stories
By , Washington Post, 12/22/2006
MarketMinder's View: The healthcare system needs more choice and competition, not coercion.
Market Misperceptions
By , Barron’s Online, 12/22/2006
MarketMinder's View: We've learned to love inane stories like these. As long as pessimism like this persists, the bull probably has further to go.
Sensible Stories
By , San Francisco Chronicle, 12/22/2006
MarketMinder's View: In a related story, California also happens to be one of the most overregulated states in the country.
Market Misperceptions
By , MarketWatch, 12/22/2006
MarketMinder's View: Even a broken clock is right twice a day. If you're constantly bearish, you'll have a good track record at calling for doom at the start of bear markets, but a terrible investment track record.
Market Misperceptions
By , MarketWatch, 12/22/2006
MarketMinder's View: If an objective board is willing to pay someone a certain amount to secure their unique talent and leadership, who are we to argue? Most of these pay package or incentive based, anyway. Yes, the CEO of Goldman received $54 million, but he also led them to their most profitable year in history. Based on Goldman's stock performance, it looks like the shareholders agree.
Sensible Stories
By , The Wall Street Journal , 12/22/2006
MarketMinder's View: An interesting look at the blurring line between venture capital and private equity and their effects on equity supply and the markets.
Market Misperceptions
By , Forbes, 12/21/2006
MarketMinder's View: We agree deregulation is a good thing, but America is still the land of opportunity for both domestic companies and those abroad. There's no need to panic. The fact is that other countries are developing and getting more competitive—that's a good thing.
Sensible Stories
By , The Financial Times, 12/21/2006
MarketMinder's View: It's easy to lose sight of the fact the past several decades have seen unprecedented economic progress across the globe—and the stage is set for even more.
Sensible Stories
By , BusinessWeek, 12/21/2006
MarketMinder's View: We quote: "Yes, wholesale inflation experienced its biggest surge since 1974. But on close inspection, price increases aren't accelerating.
Sensible Stories
By , The Financial Times, 12/21/2006
MarketMinder's View: For more, see yesterday's commentary: "Baht Were They Thinking!?
Sensible Stories
By , The Wall Street Journal , 12/21/2006
MarketMinder's View: A contrary view on income dispersion, and a good example of why attempts to "soak the rich" can have negative effects for the entire economy. Let capitalism run its natural course and watch standards of living grow across the board.
Market Misperceptions
By , The Washington Post, 12/21/2006
MarketMinder's View: The most ridiculous headline we've seen this week.
Sensible Stories
By , The Wall Street Journal , 12/21/2006
MarketMinder's View: With record cash on balance sheets and limited organic growth prospects, the M&A boom for the energy sector is likely to continue.
Market Misperceptions
By , Bloomberg, 12/21/2006
MarketMinder's View: Honestly, we're not even sure what this one's trying to say.
Sensible Stories
By , The Wall Street Journal , 12/20/2006
MarketMinder's View: Global economies are symbiotic things. Most people don't realize the potential positives of higher energy prices. Middle East nations are sending the money right back to the nations consuming their oil as they demand more products and services.
Market Misperceptions
By , CNN Money, 12/20/2006
MarketMinder's View: As long as earnings yields stay high, balance sheets strong, and debt cheap, we can expect continued M&A activity. And there's nothing to fear about that.
Sensible Stories
By , The Wall Street Journal , 12/20/2006
MarketMinder's View: A history lesson on the geopolitical and economic impact of commodities, and a contemporary example of rising demand in emerging markets leading to higher equilibrium commodities prices.
Sensible Stories
By , Foreign Affairs, 12/20/2006
MarketMinder's View: We quote: "The massive growth of hedge funds has sparked warnings of instability and demands that the industry be regulated. But the fear of hedge funds is overblown, based on a misunderstanding of their role in the international Þnancial system. In reality, hedge funds do not increase risk; they manage it -- and policymakers, rather than clamping down, should make sure hedge funds have the tools to perform this function well.
Market Misperceptions
By , MarketWatch, 12/20/2006
MarketMinder's View: Who knows what these stocks will do next year and for what reasons, but commonly known information is already priced in (as basic market theory predicts). Consider for a moment how many people read these common facts before you did.
Sensible Stories
By , TCS Daily, 12/20/2006
MarketMinder's View: Lessons on what it means to be a service and knowledge-based economy, and a real-world application.
Market Misperceptions
By , Fortune, 12/19/2006
MarketMinder's View: From 1994 to 1995, S&P 500 earnings growth decelerated from 40% to 11%. So, what do you think the S&P 500 did in 1995? It was up over 35%!
Sensible Stories
By , Bloomberg, 12/19/2006
MarketMinder's View: Merger mania continues!
Market Misperceptions
By , MSNBC, 12/19/2006
MarketMinder's View: Not only do many states already have a wage set above the proposed federal minimum, the increase will only affect a small portion of the entire workforce. In the long run this should be a non-issue.
Sensible Stories
By , TCS Daily, 12/19/2006
MarketMinder's View: A rational economic view on the potential effects of climate change, if any.
Sensible Stories
By , The Wall Street Journal , 12/19/2006
MarketMinder's View: A concise overview of Spain's thriving economy, and some of the economic and political risks it faces.
Sensible Stories
By , Bloomberg, 12/19/2006
MarketMinder's View: More evidence the global yield curve matters.
Sensible Stories
By , The Wall Street Journal , 12/19/2006
MarketMinder's View: An informative article showing the key risks to one of the world's fastest growing economies.
Market Misperceptions
By , Bloomberg, 12/19/2006
MarketMinder's View: See our past commentary "Contrary About Contrarians" for more.
Market Misperceptions
By , MarketWatch, 12/19/2006
MarketMinder's View: Pundits will tell you it's time to start stocking the bunker with canned goods. Don't believe it. A trade deficit is not a bad thing. If it was, the US and UK would have imploded long ago.
Sensible Stories
By , BusinessWeek, 12/19/2006
MarketMinder's View: The US Treasury Secretary speaks out.
Sensible Stories
By , Computerworld, 12/16/2006
MarketMinder's View: As the knowledge-based component of the global economy develops, intellectual property rights are increasingly important. Google's patent search technology, and others like it, can vastly improve the efficiency of ingenuity and protect those who innovate.
Sensible Stories
By , The Wall Street Journal , 12/16/2006
MarketMinder's View: The economic outlook in Asia is bright for 2007.
Sensible Stories
By , The Financial Times, 12/16/2006
MarketMinder's View: As the debate expands, it is vital that enhancing shareholder rights goes hand in hand with moving to lighter regulation. Investors who have the tools to protect their own interests effectively have less need to look to watchdogs to do it for them.
Sensible Stories
By , NPR, 12/16/2006
MarketMinder's View: Global automakers are rejoicing over the decision to end most tariffs on steel…and so are we.
Market Misperceptions
By , Bloomberg, 12/16/2006
MarketMinder's View: See our commentary "Low Impact Tragedy" for more.
Market Misperceptions
By , CNN Money, 12/16/2006
MarketMinder's View: Inflation has been under control for quite awhile now, and that likely won't change anytime soon. It's amusing how the media still finds a way to weave a little fear into most every article.
Sensible Stories
By , The Wall Street Journal , 12/16/2006
MarketMinder's View: How can a $3.3 billion company launch a mostly cash bid for a $14.7 billion company? When financing costs are low and earnings yields high, that's how.
Sensible Stories
By , The Financial Times, 12/16/2006
MarketMinder's View: An informative piece on private companies—a large part of the economy that directly impacts public firms.
Sensible Stories
By , MarketWatch, 12/16/2006
MarketMinder's View: A good example of rising equilibrium prices rise when supplies are constrained while demand grows.
Market Misperceptions
By , The Motley Fool, 12/15/2006
MarketMinder's View: If in fact the article is correct, wouldn't a baby boomer generation that works longer actually help ease their dependence on Social Security? Is this a bad thing?
Market Misperceptions
By , Barron’s Online, 12/15/2006
MarketMinder's View: A classic, and ridiculous, example of the "fear of heights" argument.
Sensible Stories
By , The Wall Street Journal , 12/15/2006
MarketMinder's View: More evidence energy prices will remain high…
Sensible Stories
By , MarketWatch, 12/15/2006
MarketMinder's View: This much is true: "Most people tend to underestimate their life expectancy.
Sensible Stories
By , The Financial Times, 12/15/2006
MarketMinder's View: Debunking some of the myths of globalization.
Market Misperceptions
By , Fortune, 12/15/2006
MarketMinder's View: Here they come! End of the year recommendations for mutual funds and stocks that will "mint money" in 2007. Avoid them at all costs. Analysts have a way of recommending the currently best performing funds, which are shown to underperform the broader market on average the next year.
Sensible Stories
By , TCS Daily, 12/15/2006
MarketMinder's View: A unique viewpoint on energy regulation and its often unintended effects.
Sensible Stories
By , The Wall Street Journal , 12/15/2006
MarketMinder's View: Capital markets firms are reaping huge benefits from the current environment and the massive M&A wave.
Sensible Stories
By , The Financial Times, 12/15/2006
MarketMinder's View: Actions by the SEC to unburden red-tape-ridden corporations are a positive for markets.
Sensible Stories
By , CNN Money, 12/14/2006
MarketMinder's View: So much for the death of the consumer.
Sensible Stories
By , Real Clear Politics, 12/14/2006
MarketMinder's View: Detroit's pressure on the government to force a revaluation of the Chinese currency echoes a similar cry in the 80's with Japan. Just like then, it's not the fault of currency valuations, but the businesses themselves.
Market Misperceptions
By , MarketWatch, 12/14/2006
MarketMinder's View: This ship sailed awhile ago. Manufacturing no longer drives the US economy and neither does GM.
Sensible Stories
By , Dow Jones, 12/14/2006
MarketMinder's View: If the housing market "bubble" just burst, why are so many people still entering into mortgages?
Sensible Stories
By , TCS Daily, 12/14/2006
MarketMinder's View: An interesting article debunking some of the income equality myths floating around in the popular press.
Sensible Stories
By , The Wall Street Journal , 12/14/2006
MarketMinder's View: An insightful history of the US dollar and the myths surrounding it.
Market Misperceptions
By , TheStreet.com, 12/14/2006
MarketMinder's View: A completely illiquid investment with the potential for no return over five years? No thanks.
Sensible Stories
By , The Wall Street Journal , 12/13/2006
MarketMinder's View: A reminder of the risks to investing in emerging markets: "The lesson for foreign energy companies operating in Russia is two-fold: the state will have control over any significant project and will use any means, including political, regulatory and legal pressure, to get it.
Market Misperceptions
By , BusinessWeek, 12/13/2006
MarketMinder's View: The residential housing slump is so widely discussed it retains little surprise power.
Sensible Stories
By , USA Today, 12/13/2006
MarketMinder's View: No matter how it's worded, protectionism benefits no one.
Sensible Stories
By , Barron’s Online, 12/13/2006
MarketMinder's View: Strategists are beginning to make their 2007 predictions and most expect another decent year for stocks. But when the "most ardent bull" thinks the S&P can rise 13%, maybe they're not optimistic enough.
Market Misperceptions
By , BusinessWeek, 12/13/2006
MarketMinder's View: Let's see, housing slump? Check. High oil prices? Check. Falling dollar? Check. Yep, we've heard all of these things before, which means they're priced in and you don't need to worry about them.
Sensible Stories
By , Morningstar, 12/13/2006
MarketMinder's View: A global investment strategy expands the available universe of opportunities. Most investors put their money in their backyard and miss out.
Market Misperceptions
By , MarketWatch, 12/13/2006
MarketMinder's View: Many likely cheered this one, but it doesn't matter. A lower trade deficit isn't necessarily good for the market, just as a higher one isn't necessarily bad.
Market Misperceptions
By , Forbes, 12/13/2006
MarketMinder's View: Despite what doom-and-gloomers would like you to believe, US financial markets are robust and capable of absorbing a residential housing market downturn.
Market Misperceptions
By , Bloomberg.com, 12/12/2006
MarketMinder's View: Despite all the chatter about the high costs of the Iraq war, the US budget is not spiraling out of control nor will the war lead to fiscal disaster.
Sensible Stories
By , Bankrate.com, 12/12/2006
MarketMinder's View: By many measures, even with a falling savings rate, US consumers are wealthier than they have ever been.
Sensible Stories
By , The New York Times, 12/12/2006
MarketMinder's View: Any lessening of the excessive regulatory burden imposed by Sarbanes-Oxley would be good for markets.
Sensible Stories
By , The Wall Street Journal , 12/12/2006
MarketMinder's View: This is precisely why a healthy dose of skepticism is needed when filtering through the daily news.
Market Misperceptions
By , The New York Times, 12/12/2006
MarketMinder's View: Somehow we doubt this is going to be an investment panacea.
Sensible Stories
By , The Wall Street Journal , 12/12/2006
MarketMinder's View: An insightful piece illustrating how widely held beliefs can differ from reality.
Sensible Stories
By , The Financial Times , 12/12/2006
MarketMinder's View: Because loans are now widely distributed, no one institution is likely to suffer a catastrophic loss when something goes wrong at a company that has borrowed billions.
Sensible Stories
By , The Wall Street Journal , 12/12/2006
MarketMinder's View: Real estate is more than just residential housing.
Sensible Stories
By , USA Today, 12/09/2006
MarketMinder's View: The fundamentals simply don't point to a prolonged downturn in US housing.
Sensible Stories
By , Dow Jones , 12/09/2006
MarketMinder's View: The US economy continues to beat expectations…
Sensible Stories
By , The Financial Times, 12/09/2006
MarketMinder's View: For all its apparent dullness, this [the ECB's commentary] was a bullish assessment of the world's largest economy. However, the market does not quite believe it.
Sensible Stories
By , American.com, 12/09/2006
MarketMinder's View: An interesting Chinese history lesson and a renewed call for the primal forces of entrepreneurship.
Market Misperceptions
By , Bloomberg, 12/09/2006
MarketMinder's View: Yes, emerging markets investing poses risks, but they're not more risky just because their stocks have risen.
Sensible Stories
By , 12/09/2006
MarketMinder's View: …wages for most American workers have begun rising significantly faster than inflation.
Market Misperceptions
By , Marketwatch, 12/09/2006
MarketMinder's View: Our ridiculous headline of the week.
Market Misperceptions
By , MarketWatch, 12/08/2006
MarketMinder's View: Worth noting, but a widely expected event. European markets didn't flinch.
Sensible Stories
By , The Wall Street Journal , 12/08/2006
MarketMinder's View: In defense of venture capital and private equity: two important drivers of innovation.
Sensible Stories
By , The Onion, 12/08/2006
MarketMinder's View: Ok, this isn't important news, but we couldn't resist…
Market Misperceptions
By , CNNMoney, 12/08/2006
MarketMinder's View: See our past November commentaries: "Inflating wages" and "Too Busy Working" for more.
Sensible Stories
By , Marketwatch, 12/08/2006
MarketMinder's View: An interesting look at the reasons IPO's in foreign markets such as London and Hong Kong have outpaced the US recently, and who is benefiting from them.
Sensible Stories
By , The Associated Press, 12/08/2006
MarketMinder's View: 23 states reported stronger than expected tax revenues and 22 are on target—signs of a strong economy.
Sensible Stories
By , Forbes, 12/08/2006
MarketMinder's View: The U.S. should have a system that encourages foreign companies, including those from fast-developing Asian economies, to list their shares in this country, not one that drives them and even American companies offshore.
Sensible Stories
By , TCS Daily, 12/08/2006
MarketMinder's View: Explaining the importance of multinational corporations who seek growth in emerging markets.
Market Misperceptions
By , Barron’s, 12/08/2006
MarketMinder's View: Someone tell these guys Dionne Warwick and the rest of the Psychic Friends Network want their crystal ball back.
Sensible Stories
By , The Financial Times, 12/07/2006
MarketMinder's View: No one thought it would be this way a year ago: we noted a number of confident predictions the small-cap run was about to end. But cycles rarely end when everyone is predicting it.
Sensible Stories
By , The Wall Street Journal , 12/07/2006
MarketMinder's View: Still need a reason to be invested globally?
Market Misperceptions
By , NPR, 12/07/2006
MarketMinder's View: Deterioration in sub-prime lending does not equal a financial crisis. These loans have always been the most volatile segment in retail lending.
Sensible Stories
By , The New York Times, 12/07/2006
MarketMinder's View: An interesting article laying out some of the problems with using home sales data.
Market Misperceptions
By , The Financial Times, 12/07/2006
MarketMinder's View: The prospect of foreign companies leaving US exchanges isn't a threat to US markets. Companies should list their shares on the exchanges that best enable them to attract shareholders.
Sensible Stories
By , The Wall Street Journal , 12/07/2006
MarketMinder's View: An interesting look inside Lukoil, and an example of the risks in emerging markets investing.
Sensible Stories
By , Bloomberg, 12/07/2006
MarketMinder's View: With corporations continuing to fuel the Japanese economy, it is only a matter of time before consumer spending kicks in.
Market Misperceptions
By , The Financial Times, 12/07/2006
MarketMinder's View: A falling dollar is not a "necessary" adjustment for the current account. A large current account deficit does not portend disaster nor does it ever have to be corrected.
Sensible Stories
By , The Wall Street Journal , 12/07/2006
MarketMinder's View: A cogent viewpoint on bubbles and the recent bear market.
Sensible Stories
By , CNNMoney, 12/06/2006
MarketMinder's View: Considering the service sector makes up the majority of US economic activity, we'd say this is pretty good news.
Market Misperceptions
By , The Financial Times, 12/06/2006
MarketMinder's View: If a bubble is widely "identified", then it isn't a bubble at all.
Sensible Stories
By , The Financial Times, 12/06/2006
MarketMinder's View: Strong corporate profit growth is one of the many reasons to be bullish on Japanese stocks.
Sensible Stories
By , MarketWatch, 12/06/2006
MarketMinder's View: Productivity growth creates economic value and helps keep inflation down.
Sensible Stories
By , The Financial Times, 12/06/2006
MarketMinder's View: Still think commodity prices won't remain high for awhile?
Market Misperceptions
By , The Wall Street Journal , 12/06/2006
MarketMinder's View: Delinquencies are rising, but are still at a low level historically. And there's no evidence this is impacting markets or economic strength.
Sensible Stories
By , The Wall Street Journal , 12/06/2006
MarketMinder's View: Good examples of why, even with high oil prices, new supply of oil or viable alternative energies will take a long time to come online.
Market Misperceptions
By , MarketWatch.com, 12/06/2006
MarketMinder's View: Gawk at charts all you want, but past prices have never predicted future prices in a statistically significant way.
Sensible Stories
By , TheStreet.com, 12/06/2006
MarketMinder's View: Yet another merger financed by cash.
Sensible Stories
By , The New York Times, 12/05/2006
MarketMinder's View: An interesting take on why many M&A deals happen near yearend.
Sensible Stories
By , The New York Times, 12/05/2006
MarketMinder's View: Two-thirds of the S&P 500 have bought back a record $430 billion of shares in the 12 months ended in September — more than three times the total just three years ago.
Market Misperceptions
By , The Wall Street Journal , 12/05/2006
MarketMinder's View: These are some of the most oft analyzed and well-known ratios in all of investing—it's therefore wrong to believe they have predictive power over future stock prices.
Sensible Stories
By , Forbes, 12/05/2006
MarketMinder's View: Mergermania continues . . . .
Sensible Stories
By , The Wall Street Journal (*Site requires regitration), 12/05/2006
MarketMinder's View: A rundown of some current issues facing the bond markets.
Sensible Stories
By , The Wall Street Journal , 12/05/2006
MarketMinder's View: An example of the inherent risks in funds with non-liquid or hard to price assets.
Market Misperceptions
By , Wall Street Journal , 12/05/2006
MarketMinder's View: The movement of the dollar and the stock market are not correlated. There are plenty of examples in history when the equity markets have done very well in a weak dollar environment. Right now is one of them.
Market Misperceptions
By , USA Today, 12/05/2006
MarketMinder's View: The answer is almost always no.
Sensible Stories
By , The Wall Street Journal , 12/05/2006
MarketMinder's View: Overregulation can starve all kinds of markets, not just the global food business.
Market Misperceptions
By , CNNMoney, 12/05/2006
MarketMinder's View: A recently strong stock market and backwards looking US economic data are not good reasons to be skeptical on stocks.
Sensible Stories
By , The London Times, 12/02/2006
MarketMinder's View: A weak dollar by itself is nothing to fear and is likely an effect of different interest rate policies throughout the globe. There is no correlation between the dollar and economic growth or stock market returns.
Sensible Stories
By , The Wall Street Journal , 12/02/2006
MarketMinder's View: European economic growth marches ahead.
Sensible Stories
By , Forbes, 12/02/2006
MarketMinder's View: US airlines aren't worried about "America's competitiveness", they're worried about saving their own necks and looking to the government to bail them out. Global airline competition (free of government intervention) will ultimately benefit the consumer: more innovation, better service and better rates.
Sensible Stories
By , The Washington Times, 12/02/2006
MarketMinder's View: We'll take it…no matter which party it comes from!
Market Misperceptions
By , TheStreet.com, 12/02/2006
MarketMinder's View: Our ridiculous headline of the week. That the economy is already doing well isn't a logical rationale for failing to implement more beneficial economic measures.
Market Misperceptions
By , Dow Jones, 12/02/2006
MarketMinder's View: The long, slow, gradual, sluggish, torturous, agonizing…and inevitable demise of US auto companies continues.
Market Misperceptions
By , Dow Jones Newswire, 12/01/2006
MarketMinder's View: Don't let the headline fool you: equity supply around the world is still constrained and even shrinking. A one month increase in IPOs is hardly reflective of the state of the global market.
Market Misperceptions
By , The Wall Street Journal , 12/01/2006
MarketMinder's View: While discouraging for Wal-Mart, holiday sales are impossible to predict until the season is over. There are equally positive and negative indicators at this point.
Sensible Stories
By , The Financial Times, 12/01/2006
MarketMinder's View: Two important reminders that investing in developing nations offer both high returns and high risk.
Market Misperceptions
By , Business Week, 12/01/2006
MarketMinder's View: Interesting interpretation: "GDP, even revised up, is still down." By this logic, nothing is up unless the growth rate relative to the previous period is higher. Make sense to you?
Market Misperceptions
By , Barron’s Online, 12/01/2006
MarketMinder's View: A weakening dollar should make foreign goods more expensive and reduce our demand for them, right? Nope. The reality is our increasingly competitive global markets have actually kept prices of most imported products cheap, despite a weaker dollar.
Market Misperceptions
By , CNNMoney, 12/01/2006
MarketMinder's View: Yet another columnist is forecasting big growth stocks to outperform (they all pretty much have the same reasons): a slowing US economy and reversion to the mean after years of small cap value dominance. Such widespread forecasts give us good reason to believe small caps could continue to outperform longer than most think.
Sensible Stories
By , Spiegel Magazine, 12/01/2006
MarketMinder's View: Isn't it interesting that burgeoning free speech and flow of information is coinciding with exploding capitalism and commerce in these developing countries?
Sensible Stories
By , The Wall Street Journal , 12/01/2006
MarketMinder's View: The fight between free trade and nationalistic protectionism will have a huge impact on future economic prosperity. An important issue to keep an eye on.
Market Misperceptions
By , United Press International, 12/01/2006
MarketMinder's View: Let's assume for the moment the Pentagon will get the full amount it's asking for. It's still a small sum compared to US GDP. And what's more, history shows stocks often perform well in times of higher budget deficits anyway!
Sensible Stories
By , The Wall Street Journal , 12/01/2006
MarketMinder's View: It appears the pendulum of regret shunning might be starting to swing back. An effort to reduce some rather unfriendly business regulation in the US would be bullish. But the idea that the US should "hyperventilate" at the fact other markets are becoming more attractive is ludicrous. Competition is good.
Market Misperceptions
By , TheStreet.com, 12/01/2006
MarketMinder's View: We're already blue in the face, but we'll say it again: there's no meaningful correlation between oil prices and stock prices.