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Market Misperceptions
By , The New York Times, 12/31/2009
MarketMinder's View:
Worried about Europe? True, it could well lag in the recovery…but the fact remains that it IS recovering. And while Greece’s problems seem huge, they likely won’t hinder the eurozone’s overall recovery. See our 12/18/2009 cover story, “Big Fat Greek Deficit,” for more.
Market Misperceptions
By , Seeking Alpha, 12/31/2009
MarketMinder's View:
Does the government allocate capital poorly? Heck yes! But fact is this perspective does no good for investors seeking to forecast stock returns. See our 10/27/2009 cover story, “Not Just Debt Weight,” for more.
Market Misperceptions
By , Barron’s , 12/31/2009
MarketMinder's View:
Unless you’re a big time trader on a big time trading desk (you’re probably not), what happens in a single month matters little for those with long-term investing goals.
Market Misperceptions
By , The Wall Street Journal, 12/31/2009
MarketMinder's View:
Expect more Financials to see trouble in 2010. It’s not necessarily a sign of more bad times ahead, rather, a completion of the cycle. The economy will move ahead while many Financials continue to ail.
Market Misperceptions
By , The New York Times, 12/31/2009
MarketMinder's View:
What is this, a Danielle Steele novel? New bulls are typically as strong as the preceding bear was weak. This isn’t new.
Sensible Stories
By , Carpe Diem, 12/31/2009
MarketMinder's View: In an increasingly global world, protectionism hurts, not helps. Luckily, this trend is very small scale so far. See our 06/24/2009 cover story, “Buy Apple Pie,” for more.
Market Misperceptions
By , The Telegraph, 12/31/2009
MarketMinder's View:
No matter if you look at developing countries relative to developed ones, or as just stand alone, the growth rates are stellar—this rally has fundamentals behind it and will likely continue at least a while longer.
Sensible Stories
By , Real Clear Markets, 12/31/2009
MarketMinder's View: “Free people and free markets have always been the best guarantors of American economic growth.” Amen–but why limit it to the US? It’s true for the rest of the globe too.
Sensible Stories
By , Bloomberg, 12/31/2009
MarketMinder's View: Markets were restored to their “animal spirits” and it’s looking like treasuries are set to experience their poorest performance in decades.
Sensible Stories
By , Reuters, 12/31/2009
MarketMinder's View: An unintended consequence of government intervention and pay caps. See our 08/06/2009 column, “Hoopla Over Pay,” for more.
Market Misperceptions
By , BBC News, 12/30/2009
MarketMinder's View:
Few things are more typical after a bear market than gun-shy stock investors. Inevitably, and sadly, they get left behind as the new bull charges ahead—as happened this year.
Sensible Stories
By , Bloomberg, 12/30/2009
MarketMinder's View: Opinions will vary about the pace of recovery, but one thing much less debated today is whether there will be one at all. The economy and capital markets have come a long way in 2009.
Market Misperceptions
By , The Wall Street Journal, 12/30/2009
MarketMinder's View:
If it sounds too good to be true, it probably is. Congress is likely to address the temporary lapse in the estate tax sooner rather than later.
Sensible Stories
By , The New York Times, 12/30/2009
MarketMinder's View: This is a subset of Japan’s stimulus program. Stimulus will continue into 2010 through most of the globe and bolster markets and the economy.
Sensible Stories
By , Reuters, 12/30/2009
MarketMinder's View: The Chinese government announced it would make it easier for foreign investors to start businesses in the country—a positive sign of potentially freer markets ahead. This is part of a larger trend other developing regions like India and Brazil have been involved in for some time now.
Sensible Stories
By , The New York Times, 12/30/2009
MarketMinder's View: Emerging market equities were strikingly successful in 2009. Future growth potential in these economies will bolster the globe. It’s been an important year to think in terms of the benefits of investing and thinking globally.
Market Misperceptions
By , BusinessWeek, 12/30/2009
MarketMinder's View:
Tariffs continue to cause tension—and hinder free trade—between US and China. This ruling was still small in scope, but it’s worth keeping an eye on.
Market Misperceptions
By , The Telegraph, 12/29/2009
MarketMinder's View: “Global stock markets are in danger of hitting full bubble territory.” Why? Because they’ve gone up a lot? Just because something has risen a lot doesn’t mean it’s a bubble. It just means people fear heights—a normal part of the wall of worry stocks like to climb.
Sensible Stories
By , The New York Times, 12/29/2009
MarketMinder's View: The Fed proposes adding a new tool to its arsenal, which could be used as a potential inflation-fighting facility.
Market Misperceptions
By , The Washington Times, 12/29/2009
MarketMinder's View: This article is almost exactly backward. Past periods when the government has been as big or bigger than it is now as a percent of GDP have been followed by fine economies and stock markets.
Market Misperceptions
By , Bloomberg, 12/29/2009
MarketMinder's View: We disagree. We got the lessons. Armageddon did not arrive as widely forecasted. Fundamentally, our markets are more resilient than folks think.
Sensible Stories
By , The Christian Science Monitor, 12/29/2009
MarketMinder's View: “But markets are also the only reliable mechanism for sorting out this messy process quickly. In spite of the booms and busts, markets drive genuine long-run innovation and wealth creation.” Amen. Let free markets ring.
Sensible Stories
By , Kiplinger, 12/29/2009
MarketMinder's View: A look into just a few of the many things worth celebrating in 2009, including stellar stock market returns.
Sensible Stories
By , CNN Money, 12/29/2009
MarketMinder's View: Some good news, but we wouldn’t be surprised if hiring was still fairly slow in 2010. Employment lags the economy, which lags the market. This is normal, not a harbinger of doom.
Market Misperceptions
By , The Wall Street Journal, 12/29/2009
MarketMinder's View: These comments are too US-focused. The US might be sluggish, or might not. But the global economy will likely continue following the non-US portion, particularly emerging markets. And though the US is a large single economy, it’s just a third of the world. The larger pulls the smaller, not the other way around.
Market Misperceptions
By , Bloomberg, 12/29/2009
MarketMinder's View: In general, we agree. It’s not likely we see the glum “new normal” popular in the media. Flat decades like we just had are rare and historically followed by much stronger decades. But forecasting more than 12 to 18 months out is fraught with peril.
Market Misperceptions
By , The New York Times, 12/28/2009
MarketMinder's View:
Fears over free trade are foolish—time and again, we see free trade actually helps, not hurts, economies as a whole. See our 11/19/2009 cover story, “Lopsided Trade,” for more.
Sensible Stories
By , Der Spiegel, 12/28/2009
MarketMinder's View: The EMU seems confident Greece’s financial problems can be solved internally—a positive sign of stability in Europe. See our 11/12/2009 cover story, “More Countries, More Problems,” for more.
Sensible Stories
By , The New York Times, 12/28/2009
MarketMinder's View: “The stock market sometimes moves astonishingly fast, yet much patience is required to take advantage of those swift moves.” Unfortunately, investors in “wait and see” mode have missed out on a tremendous stock market recovery since March. See our 11/17/2009 cover story, “Time and Again,” for more.
Sensible Stories
By , Bloomberg, 12/28/2009
MarketMinder's View: We generally don’t put much stock in economists’ forecasts, but this is a good analysis of why the US economy is likely to fare much better than many expect in 2010.
Market Misperceptions
By , The Sydney Morning Herald, 12/28/2009
MarketMinder's View:
China has been a leader in implementing stimulus measures. The economy and stock market have reacted positively—a sign stimulus measures are working, not that a “bubble” (maybe the most overused word in finance) is forming.
Market Misperceptions
By , Washington Times, 12/28/2009
MarketMinder's View:
This article simply makes incorrect assumptions about the effects of stimulus spending. Stimulus spending is intended to jumpstart the economy when the private sector isn’t spending, and it’s helped do just that. As the economy picks up steam, stimulus spending won’t be required to sustain economic growth.
Sensible Stories
By , Greg Mankiw’s Blog, 12/28/2009
MarketMinder's View: A cogent article examining why inflation fears are likely overwrought.
Market Misperceptions
By , The New York Times, 12/28/2009
MarketMinder's View:
The last 10 years happened to be bookended by two recessions and big bear markets. But the world hasn’t been stagnant during this decade. To say the last 10 years were a time in which we “learned nothing” is false. The lessons learned are invaluable and will likely help make the economy even more robust in the future. See our 12/28/2009 cover story, “A Look Ahead,” for more.
Sensible Stories
By , CNN, 12/24/2009
MarketMinder's View: After some rocky procedural votes, the Senate passed their version of the health care bill. However, this isn’t over. Merging it with the House’s version will likely be tricky and take some time—anything can happen from here. See our 12/23/2009 cover story, “The Ghost of Christmas Future,” for more.
Sensible Stories
By , MarketWatch, 12/24/2009
MarketMinder's View: Expect to see more profits as more banks continue to repay their government loans. An excellent sign of banks continuing progress to health.
Market Misperceptions
By , Daily Finance, 12/24/2009
MarketMinder's View:
The Dow ceased to be significant awhile ago. As a price-weighted index with only 30 stocks, it’s hardly representative of the US as a whole—so even if it hits 20,000, it’s still “ain’t what it used to be.” See our 06/02/2009 cover story, “Don’t Bow to Dow,” for more.
Market Misperceptions
By , BusinessWeek, 12/24/2009
MarketMinder's View:
So what? Both a weak and strong currency has pros and cons. Neither is inherently preferable. Plus, historically, a strong or weak dollar has no meaningful correlation to stock market movement. Ignore, and see our 08/15/2008 cover story, “The Dollar and You,” for more.
Sensible Stories
By , MSN Money, 12/23/2009
MarketMinder's View: “Historically, periods of widespread pessimism have coincided with excellent times to buy stocks for the long haul.” Yep, stocks love to climb a wall of worry.
Market Misperceptions
By , The Wall Street Journal, 12/23/2009
MarketMinder's View: Oy. More “new normal.” At the end of every recession and bear market, folks always assume growth going forward must be slower. And the worse the recession, the shriller those calls. It’s never different this time. As the economy recovers, business spending will pick up—that’s just how it happens after recessions.
Sensible Stories
By , Real Clear Markets, 12/23/2009
MarketMinder's View: A look at the positives reflected by the steep yield curve, as well as other factors that may contribute to a continuing rise in stocks as well as economic growth in the year ahead. For more, see our 12/15/2009 cover story, “Yields Signs.”
Sensible Stories
By , The Wall Street Journal, 12/23/2009
MarketMinder's View: There is widespread interest in snatching up commercial real-estate loans extended by failed banks (the formerly “toxic” assets), and this flurry of demand has the potential to drive the prices of the loan packages higher—all good signs!
Sensible Stories
By , The Wall Street Journal, 12/23/2009
MarketMinder's View: In a move widely seen as a step toward a more wide-ranging trade pact between the two, China and Taiwan signed three trade agreements yesterday. Freer trade is always a net positive for the trade partners—and the world.
Market Misperceptions
By , Bloomberg, 12/23/2009
MarketMinder's View: Raising taxes—especially adding a VAT of 25.5%!—during a period of economic downturn (which Iceland is still struggling with) likely does more harm than good.  While it may seem like a short-term solution to curbing the deficit, it also has the potential to stall recovery on the whole.
Market Misperceptions
By , CNN Money, 12/23/2009
MarketMinder's View: Not surprising. Recessions often continue to feel worse long after recovery has begun. However, investors who wait to feel better about where the economy stands are apt to miss a significant portion of the new bull market. For more, see our 8/20/2009 cover story, “Alphabet Soup Recovery.”
Market Misperceptions
By , The New Republic, 12/23/2009
MarketMinder's View: America’s manufacturing sector is as big as the entirety of German’s economy, and continues to grow. So concerns over it shrinking are misinformed at best.
Sensible Stories
By , Bloomberg, 12/23/2009
MarketMinder's View: A look at a few of the phrases that have pervaded the financial world, and society as a whole, over the past year. Most are utterly meaningless.
Sensible Stories
By , BBC News, 12/22/2009
MarketMinder's View: This was a better result than feared: “Greece remains in the A zone, so that reduces the risk of Greek bonds not being eligible for the European Central Bank’s (ECB) funding even after the end of 2010.”
Sensible Stories
By , Carpe Diem, 12/22/2009
MarketMinder's View: The yield curve—the difference between short- and long-term interest rate on government bonds—is at a high. The steep yield curve is generally a good forward indicator for bank profits and economic growth. For more, see our 12/15/2009 cover story, “Yields Signs.”
Market Misperceptions
By , MoneyWatch, 12/22/2009
MarketMinder's View: That this piece wavers about its own policy prescription is evidence of just how tough monetary policy is. No doubt, the Fed can/should be critiqued, but the bottom line today is Financials are in recovery mode—thanks in part to huge monetary stimulus efforts.
Sensible Stories
By , The Wall Street Journal, 12/22/2009
MarketMinder's View: The US economy is stronger exiting 2009 than most believed possible—this in turn is compelling economists to raise forecasts for Q4 and into 2010.
Market Misperceptions
By , Bloomberg, 12/22/2009
MarketMinder's View: Protectionist measures like this hinder competition and discourage free trade. Let’s hope it remains relatively small and contained, as it has so far.
Market Misperceptions
By , New Zealand Herald, 12/22/2009
MarketMinder's View: Ah, one of our all-time favorites: The Global Misery Index. Mostly based on inflation and unemployment levels, it’s no surprise the reading is higher now than last year for many major economies—unemployment typically rises after a recession peaks.
Market Misperceptions
By , The New York Times, 12/22/2009
MarketMinder's View: Regardless of where you stand on bonuses, investors should be thankful for banks’ relative return to health and newfound freedom from the dole—it’s been vital to the 2009 market recovery.
Sensible Stories
By , The Wall Street Journal, 12/22/2009
MarketMinder's View: Just as the Fed innovated hugely to pump money into the system at the height of the crisis, so too is it capable of innovating when it comes time to take money out. But the appropriate time for that is at least months away.
Sensible Stories
By , Carpe Diem, 12/22/2009
MarketMinder's View: “The US manufacturing sector is alive and well, and the US is still the largest manufacturer in the world.”
Sensible Stories
By , Bloomberg, 12/22/2009
MarketMinder's View: Although the downward revision to third quarter GDP was more than analysts expected, it still indicates Q3 economic growth. Additionally, continued inventory declines (a detractor to GDP) are a bullish signal for the future.
Sensible Stories
By , Carpe Diem, 12/21/2009
MarketMinder's View: Few people realize this is true. Manufacturing employment has been shrinking because more efficient manufacturing processes enable firms to make more with less manpower. But US manufacturing is alive and healthy. See our 12/08/2009 cover story, “Skip the Double-Dip,” for more.
Market Misperceptions
By , Associated Press, 12/21/2009
MarketMinder's View:
Much like “sell in May and go away” and other silly sayings, the “Santa Claus rally” is nothing but a stock market myth. What stocks do over exceptionally short periods doesn’t indicate anything about longer-term performance. Right now, there are plenty reasons to be bullish about stocks that have nothing to do with a jolly, bearded guy doling out presents (insert Bernanke joke here).
Sensible Stories
By , The New York Times, 12/21/2009
MarketMinder's View: Because hiring new, permanent employees is expensive, it’s one of the last things firms do after recession. As the economy improves, they first extend overtime hours and hire temporary workers—exactly what we’re seeing now. Eventually, they’ll hire full-timers, and the unemployment rate will improve. Expect stocks to move higher before meaningful improvement in employment data. See our 11/09/2009 cover story, “Unemployment’s Jab No Knockout,” for more.
Sensible Stories
By , The Wall Street Journal, 12/21/2009
MarketMinder's View: “What some see as imbalances can also be described as a system of capital and goods in constant motion.” In other words, supply and demand—on a global scale.
Sensible Stories
By , Los Angeles Times, 12/21/2009
MarketMinder's View: Excellent advice for investors.
Market Misperceptions
By , MarketWatch, 12/21/2009
MarketMinder's View:
Many pundits remain pessimistic about the economy. That’s a good thing. When expectations are low, it’s far easier for results to exceed them, pushing stock prices higher. We’d be really worried if the so-called experts saw nothing but good times ahead. See our 11/04/2008 cover story, “The Ultimate Leading Economic Indicator,” for more.
Market Misperceptions
By , CNN Money, 12/21/2009
MarketMinder's View:
Weaker banks failing in tougher times is nothing new—and their demise won’t affect the ongoing bull much, if at all. See our 05/26/2009 cover story, “Extreme Makeover: Bank Edition,” for more.
Sensible Stories
By , Bloomberg, 12/21/2009
MarketMinder's View: Good news for continued recovery. See our 12/15/2009 cover story, “Yield Signs,” for more.
Sensible Stories
By , Slate, 12/21/2009
MarketMinder's View: Nope, not surprising at all. We’ve long said banks wouldn’t be happy with TARP’s compensation restrictions—so it’s no surprise they’re going to great lengths to get out from under them. See our 01/22/2009 cover story, “Strings Attached,” for more.
Sensible Stories
By , Investor’s Business Daily, 12/18/2009
MarketMinder's View: This flies in the face of two popular notions: Foreign demand for US assets is dying and real estate can never recover.
Sensible Stories
By , Real Clear Markets, 12/18/2009
MarketMinder's View: We wouldn’t agree with everything here, but this is spot on: “investors swayed by the general pessimism have been missing out on extraordinary gains in risky asset prices since early this year.”
Sensible Stories
By , BBC News, 12/18/2009
MarketMinder's View: While Europe undoubtedly has more banking challenges ahead of it, things have stabilized greatly in contrast to last year.
Market Misperceptions
By , Investor’s Business Daily, 12/18/2009
MarketMinder's View:
Calling the stimulus plan the “costliest fiscal failure in US history” is overblown. Of course government spending is inefficient, but unprecedented stimulus played a key role in jumpstarting the economy.
Sensible Stories
By , The Motley Fool, 12/18/2009
MarketMinder's View: Maybe it will be M&A, or something else. But all that corporate cash will be used one way or another, boosting business activity. See our 12/17/2009 cover story, “Cash Rich,” for more.
Sensible Stories
By , Economist, 12/18/2009
MarketMinder's View: “But if London is to maintain its status as a financial hub, it needs to attract foreign financiers, not drive them away.” Amen.
Market Misperceptions
By , Washington Post, 12/18/2009
MarketMinder's View: The absolute debt level feels high, but relative to the size of the economy, it’s manageable. For more, see our 10/27/2009 cover story, “Not Just Debt Weight.”
Market Misperceptions
By , Economist, 12/18/2009
MarketMinder's View: At what point might these folks be comfortable? After stocks are up 100% instead of just 70% from the bottom? Wall of worry waiters get left behind in bull markets.
Sensible Stories
By , The New York Times, 12/18/2009
MarketMinder's View: Looks like markets will dance with Ben for another term. For more, see our 12/4/2009 cover story,” The Devil You Know.”
Sensible Stories
By , The Wall Street Journal, 12/18/2009
MarketMinder's View: The bar brawl for banking regulatory authority will be important for investors to watch as 2010 develops.
Market Misperceptions
By , Asia Times, 12/18/2009
MarketMinder's View: China has grown tremendously and is blazing the trail for global recovery. For more, see our 12/14/2009 cover story, “Country Matters.”
Sensible Stories
By , The Wall Street Journal, 12/18/2009
MarketMinder's View: Japan continues its highly accommodative monetary policy.
Market Misperceptions
By , The Wall Street Journal, 12/17/2009
MarketMinder's View:
Consumers are more resilient than most believe—this insidious notion crops up after every recession and is nothing new. See our 8/17/2009 cover story, “The Report of the Consumer’s Death Is an Exaggeration,” for more.
Market Misperceptions
By , The Telegraph, 12/17/2009
MarketMinder's View:
Whatever happened to good old economic growth? Isn’t that a good way to revive general prosperity too?
Market Misperceptions
By , The Street, 12/17/2009
MarketMinder's View:
No doubt, more banks will fail in the new year—that’s the normal hangover of a credit bust. But these features are very well known and reflected in stock prices today. The banking industry will recover, albeit slowly, and the economy and stocks are very likely to recover faster banks.
Sensible Stories
By , Associated Press, 12/17/2009
MarketMinder's View: Signals of economic revival continue.
Sensible Stories
By , The Wall Street Journal, 12/17/2009
MarketMinder's View: "Confidence in our financial system has improved, credit is flowing, and the economy is growing." See our 12/03/2009 cover story, “Exits in Sight,” for more.
Market Misperceptions
By , CNBC, 12/17/2009
MarketMinder's View:
Pessimism typically floats in the air during nascent bull markets, nothing new here. Stocks love a wall of worry to climb.
Sensible Stories
By , The New York Times, 12/17/2009
MarketMinder's View: “The offer highlights the eagerness of financial institutions to expand in the fast-growing Asia-Pacific region.” Global growth continues, and companies are beginning to deploy their ample capital. See today’s cover story, “Cash Rich,” for more.
Market Misperceptions
By , International Business Times, 12/17/2009
MarketMinder's View:
The supply of the dollar is hardly putting a damper on US Treasury investments—foreign investors are still very much interested in US debt and treasuries, not to worry.
Market Misperceptions
By , Los Angeles Times, 12/17/2009
MarketMinder's View:
Weekly and even monthly employment reports will be erratic and aren’t good indicators of future stock returns coming out of a recession—employment revival tends to lag.
Sensible Stories
By , CNN Money, 12/16/2009
MarketMinder's View: Yep, what we expected.
Market Misperceptions
By , The Wall Street Journal, 12/16/2009
MarketMinder's View:
It isn’t just the US and UK bashing bankers. While this may make some feel better, it has little impact, doesn’t address what caused the credit crisis, and won’t prevent asset bubbles from forming. Price caps, even on salaries, just cause distortions.
Sensible Stories
By , Reuters, 12/16/2009
MarketMinder's View: “The change in tone among analysts from a year ago is remarkable, when trading desks around the world were shaken by the worst financial crisis since the crash of 1929.”
Sensible Stories
By , Slate, 12/16/2009
MarketMinder's View: Recoveries in the labor market take a while, but layoffs have slowed, temporary jobs have picked up, and productivity has surged—all signs an employment recovery (albeit a slow one) is in the fore. Though the economy doesn’t need improving employment to begin recovering, this likely confirms economic recovery is well underway.
Sensible Stories
By , The Wall Street Journal, 12/16/2009
MarketMinder's View: An interesting look at specific factors boosting the economy over the past six months—and why the trends are likely to continue.
Market Misperceptions
By , Washington Post, 12/16/2009
MarketMinder's View:
Keeping firms under the government’s thumb doesn’t translate to a successful recovery in any industry. Banks are eager to repay TARP funds because they are adequately capitalized and ready to return to business.
Market Misperceptions
By , Investor’s Business Daily, 12/16/2009
MarketMinder's View:
Just thinking it through for a minute, you realize the US isn’t in a remotely similar situation to Dubai and Greece. Relative to history and other developed nations, America’s current debt level isn’t alarming.
Market Misperceptions
By , The Wall Street Journal, 12/16/2009
MarketMinder's View: Inflation fears are still premature, despite yesterday’s producer price report—some inflation is precisely what the expansionary economic policies of the past year aimed for. For more, see today’s cover story, “A Buck for the Barber.”
Sensible Stories
By , Associated Press, 12/15/2009
MarketMinder's View: The automaker is set to repay the $6.7 billion in quarterly installments. It’s generally positive news, though US automakers won’t likely be as vibrant as they once were—not for years and perhaps not ever.
Sensible Stories
By , Bloomberg, 12/15/2009
MarketMinder's View: Thawing structured debt markets would be a huge step toward reviving credit markets—as investor interest in structured debt grows, loans will be easier to get.
Market Misperceptions
By , Bloomberg, 12/15/2009
MarketMinder's View:
Maybe. Of course, recession is always a risk. And we agree hurling insults at bankers isn’t productive. But the US and world economies are already in recovery mode. There are much bigger forces at play here than political bickering.
Sensible Stories
By , The Motley Fool, 12/15/2009
MarketMinder's View: We would agree—people are quick to classify “bubbles” and are constantly looking for the next bubble to burst. That said, one way to look at it is “since all trades balance, bubbles quite simply don't exist.”
Sensible Stories
By , The New York Times, 12/15/2009
MarketMinder's View: Wells Fargo is set to join its competitors in repaying “bailout” funds—a sign big banks are on much healthier footing than they were.
Market Misperceptions
By , Washington Post, 12/15/2009
MarketMinder's View:
Folks love fretting debt. But past periods when we had debt as high or higher didn’t lead to economic or market ruin. Interest rates remain very low, which means we can easily afford our debt. Debt’s not bad. In fact, debt’s so good, right now our government is actively trying to get banks to issue more of it to people like you and me because they know credit helps our economy grow.
Market Misperceptions
By , ABC News, 12/15/2009
MarketMinder's View:
Or maybe a resurgence in demand for some goods has more to do with a recovering economy and little to do with the much villainized “banker bonuses.” Consumer spending overall is much more resilient than people think.
Market Misperceptions
By , The Wall Street Journal, 12/15/2009
MarketMinder's View:
Dubai fears continue in headlines, but the market has clearly moved on. For more, see our 11/30/2009 cover story, “Much Dubai About Nothing.”
Market Misperceptions
By , Minyanville, 12/15/2009
MarketMinder's View:
Seems like no one will ever tire of this fear, even though it’s quite normal for recoveries to be jobless for some time. Firms will start hiring once sales rebound, not the reverse. Growth leads to jobs. It’s a bit irrational to expect firms to hire before they’ve seen profitability return.
Sensible Stories
By , Associated Press, 12/15/2009
MarketMinder's View: The US is holding steady in one part of its monetary stimulus.
Sensible Stories
By , Associated Press, 12/14/2009
MarketMinder's View: Citi is the last big bank still tied to TARP. Just a year ago, it seemed unfathomable big banks overall would be in such a relatively healthy position.
Market Misperceptions
By , Los Angeles Times, 12/14/2009
MarketMinder's View:
No, we’re not. Banks being able to pay back TARP loans is a good thing—it’s evidence Financials are now on surer footing and want to shed the restrictions that came with government money. All good things. See our 12/10/2009 and 01/22/2009 cover stories, “TARP Controversy” and “Strings Attached,” for more.
Market Misperceptions
By , The New York Times, 12/14/2009
MarketMinder's View:
Some always think more regulation equals higher chance of avoiding financial crises like last year’s. That’s simply wrong—bubbles, booms, and busts are just normal. Trying to regulate our way out of them likely just leads to more distortions. See our 01/05/2009 column, “Deregulation…Regulation…What’s the Difference.”
Market Misperceptions
By , Slate, 12/14/2009
MarketMinder's View:
Trade isn’t at peak levels right now—common in recessions. It doesn’t mean the world is ”deglobalizing”—rather countries still acknowledge the many benefits of free trade continue signing new trade agreements. See our 11/19/2009 cover story, “Lopsided Trade,” for more.
Sensible Stories
By , The New York Times, 12/14/2009
MarketMinder's View: This is good news for Dubai, certainly. But note, Dubai’s problems have little affected stocks globally. For more, see our 11/30/2009 cover story, “Much Dubai About Nothing.”
Sensible Stories
By , BusinessWeek, 12/14/2009
MarketMinder's View: A simpler tax code and fewer taxes would be a good thing for everyone—higher and complicated taxes cause confusion and discourage private sector job-creation and spending in general.
Market Misperceptions
By , Bloomberg, 12/14/2009
MarketMinder's View:
Historically, all economic recoveries experience high and even growing unemployment—initially. Then, when firms start seeing profits, they start hiring again, in that order. See our 11/09/2009 cover story, “Unemployment’s Jab No Knockout,” for more.
Sensible Stories
By , Carpe Diem, 12/14/2009
MarketMinder's View: Sure looks like a bull market to us! See our 11/02/2009 cover story, “Fall Classic,” for more.
Sensible Stories
By , Bloomberg, 12/14/2009
MarketMinder's View: “All it will do is drive the global banks out of London and wind up putting the government in an even deeper fiscal hole.” Well, it’s not likely all banks will up and leave, but price caps in general, even on salaries, are just silly and don’t do what people want them to do. They just create distortions.
Market Misperceptions
By , The New York Times, 12/11/2009
MarketMinder's View: First, note, periods of high budget deficits have historically been followed by great stock returns and strong growth. Don’t fear the deficit. And second, because deficits aren’t to be feared, it’s silly to reduce productivity by taxing our way out of them.
Market Misperceptions
By , Bloomberg, 12/11/2009
MarketMinder's View: “While the debate over excessive compensation started on Wall Street, it shouldn’t end there.” Sure! Except, who will they decide earns too much next? Pro athletes? Movie stars? Doctors? Accountants? You? There’s no evidence that price caps—even on salaries—do any economic good and will only lead to distortions.
Market Misperceptions
By , Bloomberg, 12/11/2009
MarketMinder's View: 2018? Why not 2020? 2037 perhaps? Long-term forecasts—bullish or bearish—are fraught with peril. There’s no way to predict what forces will impact stocks 3 years from now—let alone 5, 10, or more. Plus, historically, stocks tend to rise much more than fall. If you’re thinking long term, odds favor being bullish.
Market Misperceptions
By , The New York Times, 12/11/2009
MarketMinder's View: At the risk of sounding like a broken record, unemployment always lags economic recovery. It’s simply sound and rational finance to ramp up hiring only after sales improve. Not before. Growth leads to jobs, not the reverse.
Sensible Stories
By , Associated Press, 12/11/2009
MarketMinder's View: Positive news abounds as the world regains its strength.
Sensible Stories
By , Bloomberg, 12/11/2009
MarketMinder's View: China continues to flourish, leading the global economic revival.
Sensible Stories
By , CNBC, 12/11/2009
MarketMinder's View: As usual, reports of the death of US consumers have been greatly exaggerated.
Sensible Stories
By , The Wall Street Journal, 12/10/2009
MarketMinder's View: The BOE decided to keep monetary stimulus measures firmly in place—which makes sense as they lagged the world a bit in initiating stimulus measures. For more, see our 12/03/09 cover story, “Exits in Sight.”
Sensible Stories
By , MSN Money, 12/10/2009
MarketMinder's View: We’d caution against 10-year forecasts. However, it’s likely the next year or so at least sees a strong continuation of the current bull market.
Market Misperceptions
By , The New Republic, 12/10/2009
MarketMinder's View: Should the government create jobs or lower the deficit? How about neither? The private sector is vastly better at creating jobs. Letting them do that increases overall wealth, which leads to higher tax receipts and a lower deficit (if the deficit bugs you). Done and done.
Sensible Stories
By , The New York Times, 12/10/2009
MarketMinder's View: Not quite right—the world is actually heading back to growth mode. Particularly in China, which is leading the world in recovery.
Market Misperceptions
By , Time, 12/10/2009
MarketMinder's View: Both were overhyped and likely to have little to no market impact. For more, see our 12/9/2009 cover story, “A Grecian Knot.”
Market Misperceptions
By , The Wall Street Journal, 12/10/2009
MarketMinder's View:
The Treasury’s standing by their decision to further extend TARP. We think the work has already been done. Mostly, this is likely an attempt to recapture some political capital and, though unnecessary, probably doesn’t have major market impact. For more, see today’s cover story, “TARP Controversy.”
Market Misperceptions
By , International Business Times, 12/10/2009
MarketMinder's View: Lots of errors in this. How can someone say stocks have poor yields when they’ve been up so much since March? There’s no fundamental reason to think dividend-paying stocks are any better or safer than non-dividend paying stocks. The truth is, dividends or no, now is a great time to be bullish on stocks overall.
Market Misperceptions
By , The New York Times, 12/10/2009
MarketMinder's View:
Big banker pay is a popular point to attack. And while taxing it may make some feel better, it won’t prevent another asset bubble from happening. Bubbles are a natural feature, not the result of someone making too much money. So tax away, but let’s not pretend it’s some systemic improvement. 
Sensible Stories
By , The Motley Fool, 12/09/2009
MarketMinder's View: Relying on one technical indicator (e.g. trading volume) to indicate when and if the stock market rally is going to fail is short-sighted. There are many factors at work determining the market’s direction—don’t put all your eggs in one basket.
Market Misperceptions
By , CNN Money, 12/09/2009
MarketMinder's View:
It’s not surprising many Americans “feel” like the economy’s still in recession—that sentiment is likely to continue for a while. However, that doesn’t mean recovery isn’t underway—it’s beginning to show in official data. Sentiment typically lags by a lot.
Market Misperceptions
By , MoneyWatch, 12/09/2009
MarketMinder's View:
“I just think that investors…are tired right now and need a break. Let’s admit it—this has been an exhausting year and we’re all entitled to refuel.” Good thing people get tired and stocks don’t.
Sensible Stories
By , The Wall Street Journal, 12/09/2009
MarketMinder's View: As a leader in the global economic recovery, China is preparing to scale back a number of its accommodative policies. However, leaders wisely remain cognizant of potential economic challenges ahead and will maintain many other stimulative measures.
Sensible Stories
By , Bloomberg, 12/09/2009
MarketMinder's View: While overall market impact is probably minor, locations unfriendly to employers and employees lose to those more friendly. And moves like these likely chase talent away from an industry that desperately needs to retain it.
Sensible Stories
By , Associated Press, 12/09/2009
MarketMinder's View: “Businesses unexpectedly added to inventories at the wholesale level in October, breaking a string of 13 consecutive declines.” As retail sales start to recover, businesses will need to restock shelves left bare by months of inventory cutting—a good step toward recovery.
Market Misperceptions
By , MoneyWatch, 12/09/2009
MarketMinder's View:
There are numerous reasons why annuities are usually rotten options for some investors. Try this one: You’re paying the insurer (a lot!) to disperse your own money back to you.
Market Misperceptions
By , Portfolio.com, 12/09/2009
MarketMinder's View: While debt concerns for some countries may rattle markets (e.g. Greece), America is still among the world’s very best credit risks, if not the best. If you want something safer with deeper markets than the US, where are you going to go?
Market Misperceptions
By , CNN Money, 12/09/2009
MarketMinder's View: No one expected TARP to be perfect. The program achieved its chief priorities: Halting the panic and stabilizing financial institutions. Imperfectly, sure, but all government programs are inherently faulty and inefficient.
Sensible Stories
By , The Wall Street Journal, 12/08/2009
MarketMinder's View: An interesting look at mergers and acquisitions this decade.
Market Misperceptions
By , The Wall Street Journal, 12/08/2009
MarketMinder's View:
If you’re waiting for a risk-free investing environment, it’ll be awhile. As in, forever. Fact is, there are always risks.
Sensible Stories
By , MarketWatch, 12/08/2009
MarketMinder's View: Some important questions to ask and answers you should expect to receive from your money manager.
Market Misperceptions
By , The New York Times, 12/08/2009
MarketMinder's View:
This is a prime example of spinning benign news negatively. It’s good that a bank is repaying TARP funds—another sign of stabilization.
Market Misperceptions
By , The Globe and Mail, 12/08/2009
MarketMinder's View:
We highly doubt the United States’ or Britain’s triple-A credit ratings are going anywhere. For more, see our 11/13/2009 cover story, “Downgraded.”
Sensible Stories
By , CNN Money, 12/08/2009
MarketMinder's View: The Fed Chairman believes we are in “very good shape” and expects to even turn a profit on some bailout funds. This seemed inconceivable just a year ago.
Sensible Stories
By , Associated Press, 12/08/2009
MarketMinder's View: The wall of global stimulus continues—though we wish Japan wouldn’t have dragged its heels so much.
Market Misperceptions
By , American Thinker, 12/08/2009
MarketMinder's View:
“If drastic measures are not taken soon our national debt will be a burden owed to foreign interests for every future generation for the rest of the twenty-first century.” This is way overblown. Ignore. For more, see our 10/27/2009 cover story, “Not Just Debt Weight.”
Sensible Stories
By , The Wall Street Journal, 12/08/2009
MarketMinder's View: Emerging markets ain’t what they used to be. Today’s “emergers” are really more like “semi-developed”—with their own engines of internal demand and burgeoning middle classes. The frontier markets today are actually more like what emerging used to be. Got it? (Just read the article.)
Sensible Stories
By , Telegraph, 12/07/2009
MarketMinder's View: Well, of course they would. This isn’t hard—if you make doing business more expensive, businesses will find a friendlier place.
Sensible Stories
By , Bloomberg, 12/07/2009
MarketMinder's View: “Gold’s best year in three decades has yet to match the returns of an interest-bearing checking account for anyone who bought [gold] during the last peak in January 1980.” Yep. For more, see our 09/10/2009 cover story, “The Bling Fling.”
Market Misperceptions
By , CFO.com, 12/07/2009
MarketMinder's View:
Doomsayers exist, always. Fact is, the most recent recession has far more differences than similarities with the Great Depression. Because global governments and central banks reacted quickly providing a wall of fiscal and monetary stimulus, it’s likely recovery is underway.
Market Misperceptions
By , Seeking Alpha, 12/07/2009
MarketMinder's View:
Up or down, someone’s always decrying the dollar’s movements as impending doom for stocks. Fact is, the stock market’s performance is little tied to the dollar’s fate.
Market Misperceptions
By , The Street, 12/07/2009
MarketMinder's View:
First, all economic recoveries are jobless recoveries—at first. Firms will hire once demand for their products rises, not the other way around. Second, the trade gap historically doesn’t predict economic health or stock market movement. See our 11/19/2009 cover story, “Lopsided Trade,” for more.
Sensible Stories
By , Kudlow’s Money Politics, 12/07/2009
MarketMinder's View: Positives to note about jobs numbers.
Sensible Stories
By , WalletPop, 12/07/2009
MarketMinder's View: A cogent article describing the risks and unintended consequences of over-regulation. We’re all for more competition, but just breaking up the big boys doesn’t necessarily get us where we want to go.
Sensible Stories
By , Slate, 12/07/2009
MarketMinder's View: There were a lot of panicked headlines over the Dubai crisis, but note: Stocks didn’t seem much bothered and continued rising. Simply, Dubai’s debt problems are relatively small, globally. See our 11/30/2009 cover story, “Much Dubai About Nothing,” for more.
Sensible Stories
By , The New York Times, 12/04/2009
MarketMinder's View: Well, 10% unemployment still ain’t great, but is an improvement. But it’s worth noting that stocks began recovering nine months ago. Employment has always been a poor stock market indicator.
Market Misperceptions
By , The Wall Street Journal, 12/04/2009
MarketMinder's View:
It seems no one is interested in investing in Venezuela’s banks. Go figure.
Market Misperceptions
By , BusinessWeek, 12/04/2009
MarketMinder's View:
Ultimately, this is a classic “it’s different this time” perspective. For more, see our 11/17/2009 cover story, “Time and Again.”
Market Misperceptions
By , The Wall Street Journal, 12/04/2009
MarketMinder's View:
As the economy continues a nascent recovery, it behooves the Fed to keep policy accommodative. Once stimulus efforts take full effect, rates will likely rise. See today’s cover story, “The Devil You Know,” for more.
Sensible Stories
By , The Wall Street Journal, 12/04/2009
MarketMinder's View: Doubts flourish over Sarbanes-Oxley—parts of this onerous law are being challenged in the Supreme Court. Worth keeping an eye on.
Sensible Stories
By , Los Angeles Times, 12/04/2009
MarketMinder's View: As the big US banks regain strength, they’re paying off their TARP money—a positive signal of stability.
Sensible Stories
By , MarketWatch, 12/04/2009
MarketMinder's View: Comparing the US economy to Germany’s or Zimbabwe’s is ludicrous—current conditions hardly measure up. For now, inflation remains a potential future concern, not a certainty.
Market Misperceptions
By , USA Today, 12/03/2009
MarketMinder's View:
A few bumps in the road to recovery are typical during a bull market—expect a few more along the way. This is normal activity, not something to fear. 
Sensible Stories
By , Slate, 12/03/2009
MarketMinder's View: “The early economic reports about holiday shopping are confusing, contradictory, and useless.” We would agree. Ignore instant play-by-plays on holiday shopping. These early reports (surveys mostly) don’t say much about overall economic health. See our 11/25/2009 cover story, “Black Friday X’s and Os,” for more.
Market Misperceptions
By , Minyanville, 12/03/2009
MarketMinder's View:
Actually, compared to stocks, gold has historically had miserable returns in the long run. For more, see our 9/10/2009 cover story, “The Bling Fling.”
Sensible Stories
By , The Wall Street Journal, 12/03/2009
MarketMinder's View: “Morningstar Inc., the research firm known for its mutual-fund analysis, is now wading into the controversial realm of credit ratings.” This is something to be watchful of.
Sensible Stories
By , The Wall Street Journal, 12/03/2009
MarketMinder's View: The eurozone is in full growth mode and reported readings above the neutral level for October and November.
Market Misperceptions
By , Bloomberg, 12/03/2009
MarketMinder's View:
Fears the FDIC is underestimating losses and is in need of a little handout from taxpayers abound. But we hardly think the FDIC will run out of cash anytime soon. For more, see our 09/03/2009 cover story, “FDIC Out of Cash?”
Sensible Stories
By , The Wall Street Journal, 12/03/2009
MarketMinder's View: More countries are looking for an exit from stimulus—a positive sign this recovery has legs. For more, see our 12/3/2009 cover story, “Exits in Sight.”
Market Misperceptions
By , Smart Money, 12/03/2009
MarketMinder's View:
Global recovery is thriving—Dubai World’s troubles won’t have a significant impact on world growth. For more, see our 11/30/2009 cover story, “Much Dubai About Nothing.”
Market Misperceptions
By , The New York Times, 12/03/2009
MarketMinder's View:
“The chances of a relapse into recession seem to be rising.” This analysis says another recession is coming because the stimulus was too small and its impact fleeting. Except, the stimulus money isn’t even half spent, and it ignores the massive amount of cash being deployed globally.
Sensible Stories
By , Bloomberg, 12/03/2009
MarketMinder's View: The Fed does its first test of reverse repos to withdraw monetary stimulus. This is worth keeping an eye on—particularly since other nations are feeling confident enough to begin enacting their own exits.
Sensible Stories
By , Reuters, 12/02/2009
MarketMinder's View: Japan’s central bank continues to demonstrate a commitment to policy flexibility as its economy struggles toward recovery.
Sensible Stories
By , The New York Times, 12/02/2009
MarketMinder's View: In the wake of the Dubai World debt crisis, it’s evident the global financial system is in much better shape than a year ago—but minor disruptions could still occur. “Fortunately, the last week has suggested that the world economy might now be able to handle any one of these problems. Dubai was a stress test, and the financial system passed.”
Market Misperceptions
By , BusinessWeek, 12/02/2009
MarketMinder's View:
True, equity returns haven’t been rosy over the past 10 years. Does that mean we’re due for lousy returns in the next 10? Absolutely not. Periods of lackluster returns are frequently followed by periods of strong returns.
Sensible Stories
By , The Wall Street Journal, 12/02/2009
MarketMinder's View: As financial institutions recover, the need for additional emergency funding is waning. This is a positive for broader market stability.
Sensible Stories
By , CNN Money, 12/02/2009
MarketMinder's View: It took months of debate for the House Financial Services Committee to vote in favor of a financial reform bill—a key legislative priority for the administration. But similar to health care reform, the Senate provides a much larger stumbling block for the bill. The longer it takes to reach a final compromise, the more moderate the bill’s provisions likely become.
Sensible Stories
By , The Wall Street Journal, 12/02/2009
MarketMinder's View: China continues to lead global economic recovery: “Two surveys suggest that China's crucial manufacturing sector is continuing to expand on the back of the government's stimulus policies, and on some recovery in private demand.”
Market Misperceptions
By , Associated Press, 12/02/2009
MarketMinder's View:
An extreme example of too much government involvement in the economy.
Market Misperceptions
By , The Wall Street Journal, 12/02/2009
MarketMinder's View:
Stamping out growth because it may, at some point, form a bubble is dangerous business. True bubbles aren’t so easy to spot, and the Fed hasn’t been particularly good at seeing them.
Market Misperceptions
By , CNN Money, 12/02/2009
MarketMinder's View:
Despite claims to the contrary, a tax on financial transactions would be borne by more than just a few Americans. Raising financing and investing costs is hardly a solution to economic woes.
Market Misperceptions
By , International Business Times, 12/01/2009
MarketMinder's View: Of course, it’s always true economies face future potential problems. The question is whether they manifest. Right now, the world is in recovery mode and looks to continue on that path.
Sensible Stories
By , Real Clear Markets, 12/01/2009
MarketMinder's View: Short selling isn’t the villain many believe it to be—it provides liquidity and leads to more efficient pricing in the markets.
Market Misperceptions
By , The New York Post, 12/01/2009
MarketMinder's View:
The stock market is a leading indicator. Unemployment numbers have likely already been priced-in and won’t drag the market down as being suggested here—jobs tend to recover after the broader economy, not the other way around. See our 11/9/2009 cover story, “Unemployment’s Jab No Knockout,” for more.
Market Misperceptions
By , Yahoo! Finance, 12/01/2009
MarketMinder's View:
Consumers are more resilient and in less peril than most believe. See our 8/17/2009 cover story, “The Report of the Consumer’s Death is an Exaggeration,” for more.
Sensible Stories
By , Bloomberg, 12/01/2009
MarketMinder's View: “China’s manufacturing grew last month at the fastest pace in five years…helping Asia to lead the recovery from the global economic slump.” This has been the story since the recovery began, and continues.
Market Misperceptions
By , MarketWatch, 12/01/2009
MarketMinder's View:
The tagline of this story reads: “As housing goes, so goes the economy—and it's not going great.” This simply isn’t true. Residential construction today accounts for less than 3% of US GDP growth.
Sensible Stories
By , The Wall Street Journal, 12/01/2009
MarketMinder's View: Monetary stimulus continues and is a positive. But note that those late to the game (namely, Japan and the UK) have largely lagged in recovery so far this year.
Sensible Stories
By , Yahoo! Finance, 12/01/2009
MarketMinder's View: AIG is paying back a $25 billion portion of the bailout it received last fall—continuing a trend of financial system stabilization and return to profitability.
Market Misperceptions
By , SmartMoney, 12/01/2009
MarketMinder's View:
Introducing Mr. and Ms. Doom! No news yet from the Vatican on whether their missives will replace the Book of Revelation anytime soon.
Sensible Stories
By , Bloomberg, 12/01/2009
MarketMinder's View: Manufacturing remains on the rise and is expected to stay on such a path into 2010, along with the broader economy.
Sensible Stories
By , The Wall Street Journal, 11/30/2009
MarketMinder's View: No, it needn’t, precisely because “a $60 billion debt default isn’t enough to alter the global picture nowadays; in the scheme of bank bailouts and economic stimulus, it’s the merest bagatelle.” See today’s cover story, “Much Dubai About Nothing,” for more.
Market Misperceptions
By , The New York Times, 11/30/2009
MarketMinder's View:
Yes, employment typically recovers after economic recovery is well underway. This isn’t a problem to be fixed, this is the act of rational business owners who don’t want to hire until sales recover. This is normal. 
Market Misperceptions
By , MarketWatch, 11/30/2009
MarketMinder's View:
Actually, history shows gold and stock price movements have no meaningful long-term correlation. They can certainly both rise together over the short term—just as they have for most of this year. But they can also both fall at the same time or go totally different directions.
Sensible Stories
By , The New York Times, 11/30/2009
MarketMinder's View: “Testing” isn’t “exiting”—an exit is still a ways out. However, there’s no harm in considering different strategies for when that time comes.
Sensible Stories
By , Associated Press, 11/30/2009
MarketMinder's View: Doesn’t surprise us. Fiscal and monetary stimulus in emerging markets has been aggressive (and appropriate) in combating the recession—likely contributing to their stock market and economic recoveries. See our 04/20/2009 cover story, “Emerging Optimism,” for more.
Sensible Stories
By , Bloomberg, 11/30/2009
MarketMinder's View: Further proof economic recovery is on steadier footing—as stocks started telling us months ago.
Sensible Stories
By , Reuters, 11/30/2009
MarketMinder's View: Japan’s new administration seems set to follow the old administration’s commitment to keeping the central bank accommodative to ease recovery.
Market Misperceptions
By , BusinessWeek, 11/30/2009
MarketMinder's View:
Why not? More importantly, who cares? The end of the year is four weeks away, and anything can happen in that short a period—these fears are merely bricks in the “wall of worry” stocks climb. Even if stocks do pull back, it’s perfectly normal in the early part of a new bull market to experience heightened volatility. But it shouldn’t derail the longer, larger overall bull market.
Market Misperceptions
By , Seeking Alpha, 11/27/2009
MarketMinder's View:
Not surprising, another overly dour employment assessment. As we’ve said, expect to see more of these as the economic recovery moves ahead—remember, jobs recover after the economy.
Sensible Stories
By , Money Watch, 11/27/2009
MarketMinder's View: “Driven by emotions like greed and envy in bull markets and fear and panic in bear markets, investors buy after periods of strong performance and sell after periods of poor performance. To avoid this type of behavior, you need to ignore market noise and resulting emotions and adhere to your investment plan.” Exactly.
Market Misperceptions
By , Yahoo Finance, 11/27/2009
MarketMinder's View:
Japan has been struggling to overcome economic issues for a long time. Problems in Japan won’t hold back the global economy.
Market Misperceptions
By , Smart Money, 11/27/2009
MarketMinder's View:
Financials surged off the stock market bottom when it became apparent industry nationalization was an overwrought fear. It’s not surprising to see this surge take a breather. In fact, we wouldn’t be surprised to see Financials lag for some time. That doesn’t mean other sectors won’t continue to climb. For more, see our 11/10/2009 cover story, “Paying for the Bailouts.”
Sensible Stories
By , Reuters, 11/27/2009
MarketMinder's View: Happy Black Friday! As we’ve been saying, consumers are more resilient than most believe. For more, see our 11/25/2009 cover story, “Black Friday X’s and O’s.”
Sensible Stories
By , The Wall Street Journal, 11/27/2009
MarketMinder's View: During economic recoveries, firms tend to increase overtime and utilize temporary workers before taking the relatively costly step of hiring permanent employees. This signals demand for workers is increasing, and will eventually lead to an improved employment picture.
Sensible Stories
By , The Wall Street Journal, 11/27/2009
MarketMinder's View: No matter how you feel about issues like cap and trade personally, fact is major legislative change creates uncertainty and can be bad for stocks. As major policy issues are killed, delayed, and watered down, uncertainty should wane and stocks should benefit.
Sensible Stories
By , CNBC, 11/27/2009
MarketMinder's View: Dubai World’s debt announcement ruffled markets Friday, but isn’t likely to be a harbinger of another global downturn. Dubai World became overextended on well-documented excesses. And the amount of debt in question is small. This is something to keep an eye on, but probably won’t amount to much.
Sensible Stories
By , Real Clear Markets, 11/27/2009
MarketMinder's View: Stimulus spending will persist in China with an emphasis on consumer spending and private investment. This should help create important end markets for global goods and stoke the global economy.
Market Misperceptions
By , The New York Times, 11/27/2009
MarketMinder's View:
Creating new taxes almost never solves a problem, and this time is no different. Capital is the lifeblood of the global financial system. A tax would “throw some sand in the well-greased wheels” of the whole system, not just speculation.
Market Misperceptions
By , Daily Finance, 11/25/2009
MarketMinder's View:
Consumer prices dipped into negative territory, but are now rising month-over-month. That’s hardly a deflationary spiral. The best thing the Fed can do to combat deflation is provide ample liquidity to foster economic recovery—exactly what they’re doing now.
Market Misperceptions
By , MoneyWatch, 11/25/2009
MarketMinder's View:
This article makes some good points about overly negative sentiment creating a positive environment for stocks, but corrections can occur at just about any time for even the most inane reasons. Corrections are normal parts of bull markets. It’s foolhardy to try and predict when and if they will occur.
Sensible Stories
By , Associated Press, 11/25/2009
MarketMinder's View: One of the few major developed nations yet to attain positive quarterly growth figures, Britain is eager for good news indicating a recovery is in the fore: “Growth in the volume of output in manufacturing, the services industry, distribution and transport services were all revised up from initial estimates.”
Market Misperceptions
By , Fortune, 11/25/2009
MarketMinder's View:
Financial institutions are recovering along with the rest of the economy. As they continue to strengthen their balance sheets, increased lending won’t be far behind. Consumers aren’t as cash-strapped as widely feared—this doesn’t necessarily portend a stall in the recovery.
Sensible Stories
By , The Wall Street Journal, 11/25/2009
MarketMinder's View: “Any successful investor needs to see what's in front of them, rather than merely what they wanted or expected to see.” Agreed.
Market Misperceptions
By , The Wall Street Journal, 11/25/2009
MarketMinder's View:
A higher deficit doesn’t spell doom for stocks—whether or not a new panel is able to tackle the nation’s deficit shouldn’t affect the continuing bull market.
Sensible Stories
By , Fox Business, 11/25/2009
MarketMinder's View: “The Commerce Department said personal spending rose 0.7% last month, beating economists’ forecasts for a 0.6% increase. The government also said personal income increased 0.2% in October, doubling estimates for a 0.1% rise.” Seems the consumer’s not dead after all. For more, see our 8/17/2009 cover story, “The Report of the Consumer’s Death Is an Exaggeration.”
Sensible Stories
By , The Wall Street Journal, 11/25/2009
MarketMinder's View: As the Bank of Japan continues to revise its forecast upward for the nation’s economy, it wisely remains wary of tightening flexible monetary policy too soon. Getting recovery firmly on track should remain the first priority.
Sensible Stories
By , CNN Money, 11/25/2009
MarketMinder's View: The Fed raised its estimate for economic growth next year—a positive sign the economy will continue to make strides.
Market Misperceptions
By , Associated Press, 11/24/2009
MarketMinder's View:
It’s more likely emerging market economies will lead the world out of the global recession than the US—an important reason to invest globally.
Market Misperceptions
By , The Wall Street Journal, 11/24/2009
MarketMinder's View:
We’d much rather see private industry allocate capital, but private capital fled during the financial panic. In times like these, fiscal and monetary stimulus is needed and welcome.
Sensible Stories
By , ABC News, 11/24/2009
MarketMinder's View: “Winning with stocks…requires patience and fortitude to avoid rash moves during steep stock market declines.” Amen.
Sensible Stories
By , The Wall Street Journal, 11/24/2009
MarketMinder's View: Impinging on the Fed’s independence would be a giant step backward in central banking.
Market Misperceptions
By , CNBC, 11/24/2009
MarketMinder's View:
Don’t fret dollar strength or weakness—it means little for investors. In fact, a weak dollar boosts the value of foreign stocks for a US investor.
Sensible Stories
By , Smart Money, 11/24/2009
MarketMinder's View: Debt has been unfairly vilified recently. Too much debt can be bad, but debt isn’t itself bad. In fact, debt can be quite good! For more, see our 10/27/2009 cover story, “Not Just Debt Weight.”
Sensible Stories
By , CNN Money, 11/24/2009
MarketMinder's View: The economy’s not completely out of the woods yet, but it’s clearly improving. Stocks should to continue to move higher as economic prospects brighten.
Sensible Stories
By , BBC , 11/24/2009
MarketMinder's View: More signs Europe is steadily emerging from recession.
Market Misperceptions
By , MarketWatch, 11/24/2009
MarketMinder's View:
Don’t get hung up on the shape of an economic recovery. Stocks are reacting to the fact recovery is afoot, not the shape it takes.
Market Misperceptions
By , SmartMoney, 11/23/2009
MarketMinder's View:
Sure, a correction or pullback can happen any time. But that’s no reason to think the bull market is over. Typically, big, steep bear markets are followed by big, steep early bull markets, and that lasts longer than you think. See our 09/30/2009 cover story, “A Strong Second Six,” for more. 
Market Misperceptions
By , ABC News, 11/23/2009
MarketMinder's View:
Simply, no. Improvement in employment data historically lags economic recovery. Growth begets job creation, not the other way around.
Sensible Stories
By , MoneyWatch, 11/23/2009
MarketMinder's View: “When lots of different kinds of people are talking about double-dips, or bubbles for that matter, those events don’t usually occur.” Very true, markets typically don’t respond to expected and widely known information. It’s the unexpected that has the power to move stocks.
Market Misperceptions
By , MSN Money, 11/23/2009
MarketMinder's View:
Who knows? Also, who cares? Historically, gold’s long-term returns have badly trailed that of stocks, making it a less-than-ideal long-term investment. See our 09/10/2009 cover story, “The Bling Fling,” for more.
Market Misperceptions
By , Daily Finance, 11/23/2009
MarketMinder's View: If this is a countertrend rally in an ongoing bear market, it’s the biggest one ever globally—reducing the odds. No, this is a bull market, and they last much longer than you think.
Market Misperceptions
By , The Globe and Mail, 11/23/2009
MarketMinder's View:
Long-term bearish commentators tend to have long-term bearish views. Doesn’t prove anything. See our 10/07/2009 cover story, “Doubts in the Driver’s Seat,” for more.
Market Misperceptions
By , SmartMoney, 11/23/2009
MarketMinder's View:
You can slice and dice historical data lots of ways to support any dour story you like. The facts are, historically, over long periods, stock returns beat any similarly liquid asset class.
Sensible Stories
By , Dow Jones Newswires, 11/23/2009
MarketMinder's View: More proof the world still has a healthy appetite for American debt.
Market Misperceptions
By , The Independent, 11/23/2009
MarketMinder's View:
Historically, all economic recoveries are jobless at first—firms start hiring again when they see profits returning—and jobs numbers won’t hold back economic or stock market recovery. See our 11/09/2009 cover story, “Unemployment’s Jab No Knockout,” for more.
Market Misperceptions
By , The Wall Street Journal, 11/20/2009
MarketMinder's View:
So, Venezuela’s GDP decreased and that’s a reason to discredit the most commonly used economic measurement (and pout in the corner)? Sure, GDP is imperfect. But it’s no doubt better than measuring “family relationships.” 
Sensible Stories
By , CNBC, 11/20/2009
MarketMinder's View: Worries of a premature government exit abound, but its continued economic support proves otherwise. In practice, the Fed continues to appear accommodative in its efforts to help goad recovery.
Sensible Stories
By , The Wall Street Journal, 11/20/2009
MarketMinder's View: More signs Financials are returning to health as the ECB wraps up another stimulus program.
Sensible Stories
By , Telegraph, 11/20/2009
MarketMinder's View: We agree. There are few absolutes in investing, but it’s almost never “different this time.”
Sensible Stories
By , Time, 11/20/2009
MarketMinder's View: Ignore the rather tacky title of this article. Yes, emerging markets are leading this recovery, and it’s nothing to fear.
Market Misperceptions
By , Bloomberg, 11/20/2009
MarketMinder's View:
Consumer spending is much more resilient than you think. China needn’t fear Americans will stop spending. For more, see our 10/01/2009 cover story, “A Sign of Better Days to Come.”
Market Misperceptions
By , Barron’s, 11/20/2009
MarketMinder's View:
Yes, Treasury yields have plunged, but conditions are vastly different today than they were in December 2008. Likely, there’s a lot of window dressing going on. Low yields are also showing the market’s expectation for Fed rates to remain low for some time.
Market Misperceptions
By , The New York Times, 11/20/2009
MarketMinder's View: So, the government forced many Financials to accept bailout money, and now we should punish the CEOs who accepted the funds? This makes little to no sense and is merely the perverse world of unintended consequences when the government intercedes in free markets.
Market Misperceptions
By , CNN Money, 11/20/2009
MarketMinder's View:
Yes, and if you had to pay all the interest on a 30-year mortgage in one year, you’d be in trouble too. This is simply a sensational headline. With interest rates historically low, our nation can easily afford its debt.
Sensible Stories
By , Money Watch, 11/19/2009
MarketMinder's View: These don’t all have to do with capital markets, but it’s still mostly sound advice. Bottom line: Hard as it is, leave emotional impulses out of your portfolio, and you’ll be better off in the long run.
Market Misperceptions
By , The Economist, 11/19/2009
MarketMinder's View:
Like we’ve said before, folks who fear our big federal debt haven’t studied history. In context, our current level isn’t alarming. For more, see our 10/27/2009 cover story, “Not Just Debt Weight.”
Market Misperceptions
By , Reuters, 11/19/2009
MarketMinder's View:
The Fed doesn’t control the price of gold—supply and demand do. And as a long term investment, its track record is lousy compared with other liquid alternatives. Stocks simply clock gold long term.
Market Misperceptions
By , The Wall Street Journal, 11/19/2009
MarketMinder's View:
Yes, it’s pretty darn funny (and highly expected) the government has managed to pay something like $225,000 per post for fake jobs in non-existent congressional districts. If the US government were a TARP recipient, it would be grilled by a Senate panel. But fortunately, stimulus spending needn’t be perfect or even very efficient to have a net benefit for the economy.
Sensible Stories
By , Yahoo! Finance, 11/19/2009
MarketMinder's View: To be honest, it doesn’t much matter if the dominant reserve currency is the dollar, the euro, the ringgit, or chocolate-covered macaroons—they’re all just local flavors of global “money” (and cookies). But this underscores the fact the dollar’s likely to remain dominant for some time. For more, read our 10/08/2009 cover story, “The Dollar’s Doom Looms?”
Market Misperceptions
By , The Wall Street Journal, 11/19/2009
MarketMinder's View:
Could home prices fall again? Sure, but housing is now an even smaller part of the US economy. The economy can recover without a big resurgence in home prices. And stocks, since March, have been telling us they don’t mind lower house prices.
Sensible Stories
By , MSNBC, 11/19/2009
MarketMinder's View: We’d expect unemployment to remain high or even increase—that’s normal during a recovery—without derailing the bull market or the economic recovery. But it does appear some improvements are starting to materialize.
Market Misperceptions
By , EU Business, 11/18/2009
MarketMinder's View:
The forced government restructuring of some large European banks is another illustration of the continued headwinds facing Financials.
Market Misperceptions
By , SmartMoney, 11/18/2009
MarketMinder's View:
Although the author claims he doesn’t believe in timing short- and medium-term market moves, setting an arbitrary sell threshold (ostensibly to lock in gains) is doing just that.
Sensible Stories
By , The Los Angeles Times, 11/18/2009
MarketMinder's View: Despite concerns over the falling dollar and massive US debt, foreign demand for US government bonds remains high.
Sensible Stories
By , The Wall Street Journal, 11/18/2009
MarketMinder's View: An entertaining read about how our minds can trick us into thinking something very complex is actually quite simple. Acronyms are short for something—likely a good idea for investors to find out exactly what that “something” is and how it works.
Sensible Stories
By , MoneyWatch, 11/18/2009
MarketMinder's View: “You shouldn’t ever make your financial decisions based on feelings. What investors should do is pick an asset allocation and stick to it.” Sounds like pretty good advice.
Market Misperceptions
By , MoneyWatch, 11/18/2009
MarketMinder's View:
A correction is a normal part of a bull market. Trying to time your way in and out of the market can be difficult and risky—investors would do well to focus on the market’s long-term bull trajectory and understand volatility (and corrections) will happen.
Market Misperceptions
By , CNN Money, 11/18/2009
MarketMinder's View:
Oil is a commodity and its price fluctuates with supply and demand. This is normal economic behavior for energy prices, and consumers expect it. And higher oil doesn’t necessarily translate into higher inflation. In 2007, for instance, oil prices skyrocketed but inflation remained tame.
Sensible Stories
By , Bloomberg, 11/18/2009
MarketMinder's View: The Fed continues to monitor the economy and factors that would indicate when it’s time to tighten up policy. With inflation still low, they’ve got plenty of flexibility.
Sensible Stories
By , Bloomberg, 11/17/2009
MarketMinder's View: For now, inflation remains very contained. Future inflation tied to increased money supply is a risk, but a risk that shouldn’t materialize until capacity is fully utilized, and firms have pricing power again.
Sensible Stories
By , Wall Street Journal, 11/17/2009
MarketMinder's View: More progress on the EU—once feared by many to be DOA. They’re close to electing the first permanent president, and he’s a haiku fan! The EU imploding would have serious repercussions, but it’s a very small risk. For more, read our 11/12/2009 cover story, “More Countries, More Problems.”
Market Misperceptions
By , NY Daily News, 11/17/2009
MarketMinder's View:
Could unemployment keep rising? Sure—unemployment typically lags economic recovery. It just makes sense that firms won’t hire until sales start rebounding strongly. But, stocks typically recover first, then the economy, then employment. There’s no reason this cycle should be any different. 
Market Misperceptions
By , The Street, 11/17/2009
MarketMinder's View:
Really? Yes, really! The US seems back in growth mode, but don’t be US-centric—look at the whole world! And stocks have been telling us they expect a global recovery since March—and even before then for emerging markets. Markets look forward, not back. Really!
Market Misperceptions
By , Associated Press, 11/17/2009
MarketMinder's View:
Tax the “rich” and you’ll find there will be a lot less rich to tax. Still, health care reform is highly unlikely to pass in any of its current forms.
Sensible Stories
By , Wall Street Journal, 11/17/2009
MarketMinder's View: No, it cannot. And we would expect to see some more bank failures. This is one reason to be less bullish on Financials as a whole. However, ongoing issues at some banks shouldn’t hold back broader market or economic recovery.
Sensible Stories
By , Kiplinger, 11/17/2009
MarketMinder's View: Plain and simple: herd mentality can be bad for you.
Market Misperceptions
By , Time, 11/17/2009
MarketMinder's View: The US has had a big trade imbalance for decades. As has the UK. It’s not hurt us before, it won’t hurt us now. Importing more than we export is a symptom of economic health, not impending ruin.
Sensible Stories
By , The Wall Street Journal, 11/17/2009
MarketMinder's View: Good for Korea! A reminder to think globally.
Sensible Stories
By , The Wall Street Journal, 11/16/2009
MarketMinder's View: A thawing market is a positive for commercial real estate.
Sensible Stories
By , Slate, 11/16/2009
MarketMinder's View: A lucid look at the way recoveries begin. See our 11/09/2009 cover story, “Unemployment’s Jab No Knockout,” for more.
Sensible Stories
By , Portfolio.com, 11/16/2009
MarketMinder's View: Corporate balance sheets outside Financials are very strong with oodles of cash on hand, making them well positioned for recovery.
Market Misperceptions
By , International Business Times, 11/16/2009
MarketMinder's View:
Fears of the dollar’s demise are way overblown. And the US dollar’s weakness or strength doesn’t mean much to stocks anyway. See our 11/11/2009 cover story, “Battle of the Buck,” for more.
Market Misperceptions
By , The Wall Street Journal, 11/16/2009
MarketMinder's View:
Investors should keep an eye on developments—government-mandated pay restrictions will only drive much-needed talent to other sectors (or countries) and further harm the slowly recovering UK Financials sector.
Market Misperceptions
By , The Wall Street Journal, 11/16/2009
MarketMinder's View:
More political rhetoric and posturing—expect little to come out of China’s admonitions.
Market Misperceptions
By , ABC News, 11/16/2009
MarketMinder's View:
Hopefully so. The goal of GM’s bailout money was to make the company succeed, wasn’t it? That means focusing on areas where they can sell more vehicles, and most of the growth in vehicle sales is happening outside the US.
Sensible Stories
By , The Wall Street Journal, 11/16/2009
MarketMinder's View: A good article for understanding the dynamics of global iron-ore and steel prices.
Market Misperceptions
By , CNN Money, 11/16/2009
MarketMinder's View:
Warning signs? Most of these indicators, especially stocks, are doing much better than just about anyone expected earlier this year. Remember, the stock market is the ultimate leading indicator and has been pricing in a recovery for months. See our 10/23/2009 cover story, “Picture This,” for more.
Market Misperceptions
By , SmartMoney, 11/16/2009
MarketMinder's View:
Gold has been a hot investment of late, but last we checked, gold doesn’t produce anything, have earnings, or innovate. Stocks have better long-term growth prospects than gold for many good reasons.  See our 09/10/2009 cover story, “The Bling Fling,” for more.
Sensible Stories
By , Bloomberg, 11/16/2009
MarketMinder's View: Though we don’t think the dollar’s demise is looming, we do agree increasing taxes could hurt more than help the US economy and probably won’t raise the expected tax receipts. Fortunately, higher taxes likely won’t doom stocks. See our 10/14/2009 cover story, “Don’t Mess With Taxes,” for more.
Sensible Stories
By , The Wall Street Journal, 11/13/2009
MarketMinder's View: It’s meaningful positives for the global economy that capital markets are revitalizing themselves and demand for assets of all kinds is rising.
Sensible Stories
By , The Wall Street Journal, 11/13/2009
MarketMinder's View: GDP and production are on the rise for the eurozone—all positive signs on the road to global recovery. But note that stocks began pricing in this recovery months ago.
Sensible Stories
By , Yahoo! Finance, 11/13/2009
MarketMinder's View: At this juncture, pulling the plug on stimulus too early is a key risk—therefore it’s good to see policymakers say such things.
Market Misperceptions
By , The Wall Street Journal, 11/13/2009
MarketMinder's View: Bottom line: Currency fluctuations have little effect on the stock market. For more, see our 10/08/2009 cover story, “The Dollar’s Doom Looms.”
Market Misperceptions
By , The New York Times, 11/13/2009
MarketMinder's View: Emulate Germany? Really? After decades of low growth and continued heavy dependence on exported manufactured goods, we’ll take the US less regulated and more dynamic economy any day.
Market Misperceptions
By , The Wall Street Journal, 11/13/2009
MarketMinder's View:
Don’t mind the trade gap. The trade balance doesn’t reflect overall economic health as many believe. In the end, markets respond positively to rising free trade, no matter how much imports and exports fluctuate.  That global trade is rebounding is bullish.
Sensible Stories
By , The Wall Street Journal, 11/13/2009
MarketMinder's View: A robust Chinese labor market is a healthy signifier of why emerging markets are playing a key role in the road to global economic recovery.
Market Misperceptions
By , Bloomberg, 11/13/2009
MarketMinder's View: Central banks always have the ability to hurt or help. To date, the Fed’s decision to keep interest rates at or near zero through the crisis and recovery and myriad other programs have provided benefits to the economy and capital markets.  We say, keep it up.
Market Misperceptions
By , The Street, 11/13/2009
MarketMinder's View:
We’d hardly call today’s bulls ignorant. Positive economic data today is merely a reflection of what stocks have been pricing in for months now.
Sensible Stories
By , The Washington Post, 11/13/2009
MarketMinder's View: A cogent view from one of Wall Street’s leaders.
Sensible Stories
By , The Economist, 11/12/2009
MarketMinder's View: Claims of the dollar’s doom are nothing new, but the world’s dominant currency is not likely to be replaced any time soon. For more, see our 11/12/2009 cover story, “More Countries, More Problems.”
Sensible Stories
By , The Wall Street Journal, 11/12/2009
MarketMinder's View: “The picture for China's exports continued to improve in October—a sign that a pickup in global demand is starting to support the nation's recovery.”
Market Misperceptions
By , Investor’s Business Daily, 11/12/2009
MarketMinder's View:
It’s popular to bash the stimulus. But keep in mind it’s still not fully deployed. Fiscal stimulus is always sloppy and imprecise. And unemployment is last to improve in an economy—always. Meanwhile, stocks keep rising because they look forward, not back.
Sensible Stories
By , The New York Times, 11/12/2009
MarketMinder's View: Monetary stimulus continues globally as most nations remain committed to helping ease credit conditions. Expect to see more stimulus pumped into the British economy—the Bank of England will spend an additional $42 billion.
Market Misperceptions
By , Yahoo Finance, 11/12/2009
MarketMinder's View:
Could it be oil is rising because economic recovery is increasing demand?
Market Misperceptions
By , Real Clear Politics, 11/12/2009
MarketMinder's View:
Gold’s at all-time highs. The dollar has been very weak. Yet, against all that, stocks keep rising. There’s just no evidence gold and dollar movements mean anything for either economic health or stock market direction.
Sensible Stories
By , The Globe and Mail, 11/12/2009
MarketMinder's View: Well, yes. That is very likely. Price caps are never a good idea, not even on salaries, and could result in Financials suffering a talent exodus. We’ve been saying this all along—cutting top executives’ pay is not the answer and could result in major talent dissemination.
Market Misperceptions
By , Slate, 11/12/2009
MarketMinder's View:
Yes, over the last 10 years, stocks have been overall flat. But what stocks just did has zero bearing on what they will do. That stocks have been flat doesn’t mean they will continue to be looking forward.
Market Misperceptions
By , The Big Money, 11/11/2009
MarketMinder's View: “…the S&P is up over 61 from its springtime low. That’s just not normal; it’s too much, too soon.”  Yes, the stock market rebound has been fast, but it’s actually quite normal considering the speed of the drop. “V” market bottoms are typical.
Market Misperceptions
By , Reuters, 11/11/2009
MarketMinder's View:
Just wrong on so many levels. Not only is the amount of government debt not worrisome, it’s preposterous to think the Fed will sink the economy by intentionally stoking massive inflation to deal with the so-called debt problem. Ignore.
Sensible Stories
By , The Wall Street Journal, 11/11/2009
MarketMinder's View: Increasing Chinese exports signals rising foreign demand—a good sign for Chinese, and global, economic recovery. For more, see our 7/17/2009 cover story, “The Year of the Ox.”
Market Misperceptions
By , Bloomberg, 11/11/2009
MarketMinder's View:
As we’ve said many times, don’t expect employment to improve meaningfully until after the economy and well after the stock market have begun recovery.
Market Misperceptions
By , The New York Times, 11/11/2009
MarketMinder's View:
“In other words, as many have feared, this part of the recovery will be ‘jobless,’ in the sense that employment and hours will not rise significantly, and may continue to fall.” This is how it typically happens as any recession ends! The recovery is “jobless” until it isn’t anymore. Companies will eventually start hiring again as the economy picks up.
Market Misperceptions
By , FOX News, 11/11/2009
MarketMinder's View:
“Bubble” is the most overused word in investing. Asset prices are rising for good reason, not because a bubble is forming. Fears of a new asset bubble just strengthen the wall of worry for bulls to climb.
Sensible Stories
By , The Wall Street Journal, 11/11/2009
MarketMinder's View: Bilateral trade deals may not be perfect, but they do break down barriers between trading nations—“but when the US sits on the sidelines, the rest of the world is going to find its own trading way, however imperfect.”
Sensible Stories
By , The Wall Street Journal, 11/11/2009
MarketMinder's View: Not surprisingly, major climate change legislation has stalled in Congress—with further debate and possible decision unlikely before 2010. As we’ve said before, the longer it takes for these bills to pass, the more moderate they likely become—a positive for stocks.
Sensible Stories
By , Bloomberg, 11/11/2009
MarketMinder's View: Central bankers are well aware of the risks of removing monetary stimulus too soon.
Market Misperceptions
By , The Wall Street Journal, 11/10/2009
MarketMinder's View:
Skeptics’ rally? If this is a countertrend rally, it’s the biggest the world has seen by far, reducing the odds. More likely, we’re amid a V-shaped bull market recovery.
Sensible Stories
By , Kiplinger, 11/10/2009
MarketMinder's View: “There is absolutely no reason to be pessimistic about either the U.S. or the world economy.” Seems about right.
Market Misperceptions
By , New York Post, 11/10/2009
MarketMinder's View:
Unemployment is always one of the last things to improve after a recession. Further, in good times and bad, there’s ”under-employment.” For more, see our 10/05/2009 cover story, “Unemployment, Underemployment and Zombies.”
Market Misperceptions
By , The Christian Science Monitor, 11/10/2009
MarketMinder's View:
The stock market looks forward and moves ahead of the economy.  Expect similar arguments to arise during the onset of this bull market.
Sensible Stories
By , The Wall Street Journal, 11/10/2009
MarketMinder's View: More signs pointing to a turnaround in the German economy.
Sensible Stories
By , ABC News, 11/10/2009
MarketMinder's View: Just months ago many perceived this impossible, but banks are in much better shape now than most would have thought.
Market Misperceptions
By , Investor’s Business Daily, 11/10/2009
MarketMinder's View:
Sentiment surveys are always backward-looking and are usually terrible predictors of future stock market returns.
Market Misperceptions
By , Politico, 11/10/2009
MarketMinder's View:
In China, as in the rest of the world, consumers are more resilient than people think. China isn’t heading for the red and certainly not for a collapse. For more, see our 07/17/2009 cover story, “The Year of the Ox.”
Sensible Stories
By , Reuters, 11/10/2009
MarketMinder's View: Credit conditions continue improving at large banks globally.
Sensible Stories
By , EU Business, 11/10/2009
MarketMinder's View: France is right to put its national interest and ongoing fiscal stimulus ahead of arbitrary, intra-national rules.
Market Misperceptions
By , Barron’s, 11/09/2009
MarketMinder's View:
Equating US workers to slaves? A bit dramatic, we’d say. Today’s conditions don’t even remotely compare to a century ago or to many developing regions. If you want to experience crummy working conditions, read Upton Sinclair’s “The Jungle.”
Sensible Stories
By , Portfolio.com, 11/09/2009
MarketMinder's View: “The private equity purchase is a welcome sign that private equity firms … are beginning to get back to the business of buying companies.” Good news. Expect this to continue as the global recovery picks up steam and investors take advantage of opportunities.
Sensible Stories
By , CNN Money, 11/09/2009
MarketMinder's View: As global monetary and fiscal stimulus continues, expect the recovery to gain more traction in more countries.
Market Misperceptions
By , The Washington Post, 11/09/2009
MarketMinder's View:
Simply put: Trade or budget deficits have never portended economic or stock market ruin. See our 08/18/2008 cover story, “Don’t Demonize the Deficit,” for more.
Sensible Stories
By , CNN Money, 11/09/2009
MarketMinder's View: “When everyone is doubting the rally, that’s usually the time to buy.” Exactly.
Market Misperceptions
By , The Wall Street Journal, 11/09/2009
MarketMinder's View:
Expect political posturing and rhetoric to continue—but also expect little action from the G-20’s agreed-upon policies.
Market Misperceptions
By , CNN Money, 11/09/2009
MarketMinder's View:
Don’t trust an economist to call the recession “over.” Watch the ultimate leading indicator—the stock market—for the signal. See our 11/04/08 cover story, “The Ultimate Leading Economic Indicator,” for more.
Sensible Stories
By , Bloomberg, 11/09/2009
MarketMinder's View: Demand for US debt remains strong. See our 06/12/2009 cover story, “A Fire Sale Four,” for more.
Market Misperceptions
By , Time, 11/06/2009
MarketMinder's View: Short answer: No. The dollar’s role in the global economy isn’t likely to change significantly for a long, long time. Investors shouldn’t fret normal dollar strength or weakness—it’s meaningless for stocks.
Market Misperceptions
By , Seeking Alpha, 11/06/2009
MarketMinder's View: A completely ridiculous assessment of the relationship between currencies and stocks.
Market Misperceptions
By , BusinessWeek, 11/06/2009
MarketMinder's View: Concerns about commercial real estate are already widely discounted. CMBS prices have dropped (many have already been written down dramatically), default expectations are sky high, and REITs have plummeted. These issues aren’t catching investors off guard and aren’t likely to cause another economic or stock market downturn.  For more, see our 10/22/2009 cover story, “Other Shoe Blues.”
Sensible Stories
By , The Wall Street Journal, 11/06/2009
MarketMinder's View: An interesting look at the potential impact of recent elections on pending legislation and next year’s midterms.
Market Misperceptions
By , CBS News, 11/06/2009
MarketMinder's View: Now we’re withholding H1N1 vaccines from Wall Street as punishment? This is just plain silly.
Sensible Stories
By , Bloomberg, 11/06/2009
MarketMinder's View: Central banks shuttering unneeded emergency programs is a positive sign of an improving financial system. Overall, monetary policies are likely to remain extremely accommodative for some time.
Sensible Stories
By , Real Clear Markets, 11/06/2009
MarketMinder's View: “The problem with the Pay Czar is that he shows that contracts don't mean a thing. What's worse is he is not acting alone, but doing the bidding of Congress, which is imposing punitive pay cuts that will have the net effect of driving talent out of the companies that need it so badly.” Amen.
Sensible Stories
By , Slate, 11/06/2009
MarketMinder's View: Budget deficits are bound to increase as stimulus funds are spent. But projected government deficit and debt levels are far from problematic.
Sensible Stories
By , MSN Money, 11/06/2009
MarketMinder's View: Individual constituents aside, the Dow is a flawed index. It’s price weighted and consists of a mere 30 stocks that can’t possibly represent the overall market.
Market Misperceptions
By , The Washington Post, 11/06/2009
MarketMinder's View: And this is a bad thing? Outside of Financials, corporate balance sheets are in great shape. That’s good for the economy and stocks.
Market Misperceptions
By , The Wall Street Journal, 11/05/2009
MarketMinder's View:
Minor trade spats continue, but this is more a function of jawboning than anything substantial. Global trade has surged back to life this year–a trend very likely to continue.
Sensible Stories
By , Fox Business, 11/05/2009
MarketMinder's View: “US non-farm productivity in the third quarter rose at its fastest pace in six years.” This is a big reason firms are beating earnings expectations lately and typical of how recoveries begin.
Market Misperceptions
By , Newsvine, 11/05/2009
MarketMinder's View:
Jobs are nearly always last to recover in the cycle—this isn’t bad or weird, it’s normal.
Sensible Stories
By , The Wall Street Journal, 11/05/2009
MarketMinder's View: The Fed will keep the liquidity train chugging for awhile yet. With inflation low and the economic recovery still nascent, this is a good thing.
Dueling Headlines
By , Associated Press, 11/05/2009
MarketMinder's View: Well, which is it? Yet another reason to avoid putting much faith in monthly numbers.
Market Misperceptions
By , The Wall Street Journal, 11/05/2009
MarketMinder's View:
It is a mistake to label today’s recovery in asset prices a “bubble,” pure and simple.
Market Misperceptions
By , The Wall Street Journal, 11/05/2009
MarketMinder's View:
It is simply wrong to believe growth will end simply because stimulus will at some point wind down. Particularly in developing countries, internal demand and foreign investment will continue to play a big role.
Sensible Stories
By , City Journal, 11/05/2009
MarketMinder's View: A lesson on how California can climb out of economic despair—take a hint from the lower-tax states focusing on targeted, efficient spending and business incentives.
Sensible Stories
By , The New York Times, 11/05/2009
MarketMinder's View: “It’s a good time to remember that when an economy is just coming out of recession, its weaknesses are always more obvious than its potential strengths.” Exactly—stocks always look to the future and, by definition, see the strength long before they manifest in economic data.
Sensible Stories
By , The New York Times, 11/05/2009
MarketMinder's View: The BoE was relatively slow to the global stimulus party, but at this point seems committed to sustaining it until the economic recovery is well underway.
Sensible Stories
By , Financial Times, 11/04/2009
MarketMinder's View: The freer the market the more efficiently it operates, be that through self-regulation, encouraging innovation or the allocation of capital.
Market Misperceptions
By , International Business Times, 11/04/2009
MarketMinder's View:
There’s so much wrong with this argument, it’s difficult to know where to start.
Market Misperceptions
By , The Times, 11/04/2009
MarketMinder's View:
We agree the effects of the recession will continue to be felt, but fears of zombie banks and consumers “permanently alter[ing] our economic and corporate landscapes” sounds a lot like those dangerous words: “It’s different this time.”
Market Misperceptions
By , The Wall Street Journal, 11/04/2009
MarketMinder's View:
California’s tax woes continue—not with another tax hike this time, but rather “a compulsory interest-free loan from taxpayers to the state.” This could backfire, with unhappy individuals and businesses alike seeking shelter in friendlier states.
Sensible Stories
By , Associated Press, 11/04/2009
MarketMinder's View: Expect the Fed and other central banks to remain highly accommodative for awhile.
Sensible Stories
By , Spiegel Online, 11/04/2009
MarketMinder's View: As the Lisbon Treaty is ratified, it will eliminate the requirement for unanimity in many areas of Euro decision making. An easier legislative path could lead to heightened investor fears—worth keeping an eye on.
Sensible Stories
By , Yahoo Finance, 11/04/2009
MarketMinder's View: “Yes, it hurts to buy in at prices that are 50% higher than where they were when you ran for the hills. But the alternative—missing more of the rally—is even worse.”
Market Misperceptions
By , Financial Times, 11/04/2009
MarketMinder's View:
This is backward thinking, you don’t see wage increases take hold before economic recovery do you. As for raising minimum wages – that’s a great way to reduce your workforce.
 
Sensible Stories
By , Bloomberg, 11/04/2009
MarketMinder's View: The third quarter brought the European economy back to growth, and indications of a budding recovery continue with expansion in services and manufacturing for the third straight month.
Market Misperceptions
By , Investor’s Business Daily, 11/04/2009
MarketMinder's View:
There’s simply no need to immediately “erase” the deficit, making the argument about astronomical taxes moot.
Market Misperceptions
By , Slate, 11/04/2009
MarketMinder's View:
Blaming growth in global business for America’s economic woes? On the contrary, foreign economic growth and generally increasing overall trade and business activity is a positive for American companies.
Sensible Stories
By , New York Times, 11/04/2009
MarketMinder's View: “People tend to become overly pessimistic at the end of a recession” - It’s human nature that our outlook is shaped by our most recent experiences but after every recession has come economic growth. This time should be no different.
Sensible Stories
By , Associated Press, 11/03/2009
MarketMinder's View: Companies are spending—a good sign, especially since business spending fell far more than personal spending in the recent recession.
Market Misperceptions
By , Blogging Stocks, 11/03/2009
MarketMinder's View: Too small? It’s not even 25% disbursed yet. The rest of that unspent stimulus will likely provide a tailwind to stocks for some time to come.
Sensible Stories
By , The Wall Street Journal, 11/03/2009
MarketMinder's View: More signs of economic health from emerging markets.
Sensible Stories
By , Spiegel , 11/03/2009
MarketMinder's View: Fears the EU would blow apart, with possibly serious ramifications for the euro, have simply been overblown.
Market Misperceptions
By , Barron’s, 11/03/2009
MarketMinder's View:
Bull markets are never a straight shot to new highs. There are always pullbacks and corrections along the way. Expecting the market to only rise and never fall during a bull market is just irrational. For more, see our 11/02/09 cover story, “Fall Classic.”
Market Misperceptions
By , Kiplinger, 11/03/2009
MarketMinder's View:
Unless your goal is to protect your portfolio from gains, we suggest investors with long-term growth goals ignore each and every one of these seven tips.
Market Misperceptions
By , Barron’s, 11/03/2009
MarketMinder's View:
The market not really moving anywhere for the last couple of weeks would be perfectly normal in any bull market and there’s no reason to believe we’re standing on the precipice of another bear.
Sensible Stories
By , Associated Press, 11/03/2009
MarketMinder's View: This could very well not be the cleanest process—and a reason for otherwise bullish global investors to lighten up both on Financials and the UK.
Market Misperceptions
By , Financial Times, 11/03/2009
MarketMinder's View:
The current rally is driven solely by leverage? With everyone as spooked as they are about credit markets and borrowing? Unlikely.
Market Misperceptions
By , The Wall Street Journal, 11/03/2009
MarketMinder's View:
China’s capital adequacy ratios have fallen—to be expected, given how much they’re lending—but they are still comfortably high. The Chinese government is simply taking steps to make Chinese banks more transparent, which is ultimately a good thing.
Sensible Stories
By , The Wall Street Journal, 11/03/2009
MarketMinder's View: We always support free trade developments because it encourages the more efficient use of human and financial capital—a benefit to everyone.
Market Misperceptions
By , Telegraph, 11/03/2009
MarketMinder's View: Maybe not. Could be Q4 posts negative growth and the “official” end date is a bit down the road. But with a +3.5% Q3, it’s hard to argue the US isn’t heading the right way, particularly since the rest of the world is largely growing again.
Sensible Stories
By , The Wall Street Journal, 11/03/2009
MarketMinder's View: “CIT is proving two things: Bankruptcy works—even for financial firms—and the US Treasury judges systemic risk out of its political hip pocket.” A bank filing for bankruptcy, even a fairly large one, simply isn’t the Armageddon many feared. For more, see our 11/03/09 cover story, “Bedtime Stories to Scare Investors.”
Sensible Stories
By , The Wall Street Journal, 11/03/2009
MarketMinder's View: The Treasury is finding it must borrow less—and spend less taxpayer money—as the need for some of its government-support programs dwindles. A very positive sign financial markets are considerably healthier than they once were.
Market Misperceptions
By , Portfolio.com, 11/02/2009
MarketMinder's View:
Banks are finding it’s not so easy to escape the government’s grasp. See our 01/22/2009 cover story, “Strings Attached,” for more.
Sensible Stories
By , Bloomberg, 11/02/2009
MarketMinder's View: “Manufacturing is alive and well. It just needs fewer workers.” The US has been manufacturing more with fewer workers for decades as productivity has improved by leaps and bounds.
Sensible Stories
By , The Motley Fool, 11/02/2009
MarketMinder's View: “Trying to time the market is a loser’s game.” We couldn’t agree more. Short-term stock market moves are nearly impossible to time and almost no one ever gets it right consistently.
Market Misperceptions
By , The New York Times, 11/02/2009
MarketMinder's View:
Considering more than half of the first stimulus plan has yet to be disbursed, it’s much too early to say it isn’t enough. See our 07/08/2009 cover story, “A Confused Chorus,” for more.
Sensible Stories
By , The Financial Times, 11/02/2009
MarketMinder's View: Expect emerging markets to continue leading the global economic and stock market recovery. See our 08/14/2009 cover story, “Out of the Gates,” for more.
Sensible Stories
By , The Wall Street Journal, 11/02/2009
MarketMinder's View: “Bank executives warned too little analysis had been conducted and raised concerns that proposals for change would stifle business by suffocating banks with too much regulation.” Haste makes waste, and more regulation doesn’t necessarily mean better regulation. See our 01/05/2009 column, “Deregulation…Regulation…What’s the Difference?” for more.
Market Misperceptions
By , IFA Online, 11/02/2009
MarketMinder's View:
Bank failures aren’t unusual during recessions and won’t keep the economy or stocks from recovering.
Sensible Stories
By , Morningstar.com, 11/02/2009
MarketMinder's View: No doubt challenges still remain but those that cannot see a real recovery taking place still have their eyes closed.
Market Misperceptions
By , CNN Money, 11/02/2009
MarketMinder's View:
The rally isn’t broken—markets never go up in a straight line, and the recent pullback is to be expected after a seven-month winning streak. See our 09/28/2009 cover story, “Shaken, Not Stirred,” for more.
Market Misperceptions
By , Wallet Pop, 11/02/2009
MarketMinder's View:
Beware the most dangerous words in finance: “It’s different this time.” Employment numbers typically don’t improve until well after the economy—which recovers well after the stock market. Expect the unemployment rate to be elevated for some time, but don’t expect it to hold back the recovery. See our 10/05/2009 cover story, “Unemployment, Underemployment and Zombies,” for more.
Market Misperceptions
By , Barron’s, 11/02/2009
MarketMinder's View:
Inflation is a risk, but if it does emerge, it’s likely a long way off. See our 08/19/2009 cover story, “The Monetary Punch,” for more.
Market Misperceptions
By , The New York Times, 11/02/2009
MarketMinder's View:
“We need a lot more federal spending on job creation” – More government backed jobs?  That’s a recipe for more bridges to nowhere.
Sensible Stories
By , The Wall Street Journal, 11/02/2009
MarketMinder's View: This is bullish—corporate balance sheets (ex-Financials) are generally in great shape, especially compared to past recessions. The fact people see it as negative makes it even more bullish as it adds to the wall of worry the new bull market is climbing.
Market Misperceptions
By , Time, 10/30/2009
MarketMinder's View:
This whole “Main Street versus Wall Street” is a popular argument, though a bit silly since over 50% of Americans have a brokerage account of some sort—401(k), IRA, etc.
Market Misperceptions
By , BBC News, 10/30/2009
MarketMinder's View:
Don’t worry yourself with this figure—consumer confidence is a lagging indicator.
Sensible Stories
By , The Wall Street Journal, 10/30/2009
MarketMinder's View: Despite the kerfuffle over tires earlier this year, the general trend has been for fewer trade barriers globally, not more—despite rhetoric to the contrary.
Market Misperceptions
By , BusinessWeek, 10/30/2009
MarketMinder's View:
Charity is great! But let’s keep in mind that investment bankers aren’t responsible for setting lending standards. Those are largely driven, in one form or another, by legislators.
Sensible Stories
By , The Wall Street Journal, 10/30/2009
MarketMinder's View: Seems about right—global nations are experiencing a nascent recovery.
Sensible Stories
By , MarketWatch, 10/30/2009
MarketMinder's View: Dour sentiment is bullish, we believe this market has some way to run yet.
Market Misperceptions
By , CNN Money, 10/30/2009
MarketMinder's View: There could still be some bad news from Financials, but they are under tremendous scrutiny. Either way, stocks have been way up, even as many Financials firms have been wobbly.
Market Misperceptions
By , The Washington Post, 10/30/2009
MarketMinder's View:
Good thing fairy tales aren’t real. What is real is stocks are up hugely since March, pricing in a return to global growth.
Market Misperceptions
By , Investor’s Business Daily, 10/30/2009
MarketMinder's View:
It’s quite normal to see headlines claiming that, now that we have good news, it’s the wrong kind of good news—e.g., the wrong kind of growth, or unsustainable. Expect more of these headlines. For more, see our 09/07/2009 cover story, “Less Bad Is Good.”
Sensible Stories
By , The Wall Street Journal, 10/29/2009
MarketMinder's View: Supporting tends to be an easy vote winner for politicians even though it never made any economic sense—we wonder how they’ll spin this now that it makes no environmental sense either.
Market Misperceptions
By , The New York Times, 10/29/2009
MarketMinder's View:
Problems with banks is a not a new story and has little power to move prices. It is ironic that many people blame banks for lending too much as the cause of today’s problems while at the same time blaming them for not lending enough now.
Sensible Stories
By , The Wall Street Journal, 10/29/2009
MarketMinder's View: The first GDP analysis for Q3 (which will be revised) is up 3.5%. Quite a nice return to growth mode.
Market Misperceptions
By , Money Watch, 10/29/2009
MarketMinder's View:
The only scary things about October are ghosts, goblins, and ghouls. Weak dollar? Big debt? Inflation? If you read our daily cover stories, you know none of these currently have the power to derail this bull market.
Sensible Stories
By , Financial Times, 10/29/2009
MarketMinder's View: We think it’s still some way off, but when the largest central banks begin a tightening cycle, they can do so without impeding long term growth.
Market Misperceptions
By , The Washington Post, 10/29/2009
MarketMinder's View:
Weak dollar, strong dollar—neither are predictive for future stock moves. Stocks have both risen and fallen on a weak and strong dollar. Nothing new there. For more, see our 09/17/2009 column, “Confounding Currency Myths.”
Market Misperceptions
By , The Wall Street Journal, 10/29/2009
MarketMinder's View:
A boost in GDP is a step in the right direction. Remember, segments of the economy never move in lockstep, and everything won’t turn from bad to good overnight. For more, see our 09/07/2009 cover story, “Less Bad Is Good.”
Sensible Stories
By , Bloomberg, 10/29/2009
MarketMinder's View: Another sign Financials are returning to health, as a program instigated to help spur borrowing is drawing to a natural close.
Sensible Stories
By , Bloomberg, 10/29/2009
MarketMinder's View: More signs the world economy is returning to health.
Market Misperceptions
By , Money Watch, 10/29/2009
MarketMinder's View:
Yes. Unemployment is high at the end of a recession. But that’s normal—unemployment typically rises even during the early part of economic recovery. A healthy economy begets job growth, not the other way around. For more, see our 10/05/2009 cover story, “Unemployment, Underemployment, and Zombies.”
Market Misperceptions
By , Bloomberg, 10/29/2009
MarketMinder's View:
“Doubt and pessimism just won’t go away”? Sounds like the wall of worry stocks like to climb. For more, see our 10/07/2009 cover story, “Doubt in the Driver’s Seat.”
Sensible Stories
By , Daily Finance, 10/28/2009
MarketMinder's View: With business inventories still near historic lows, there’s plenty of room to continue these gains in support of the wider economic recovery.
Market Misperceptions
By , The Washington Post, 10/28/2009
MarketMinder's View:
Government stimulus and monetary policy has provided a necessary jolt to a frozen economy—but the global economy can—and always has—grown of its own volition after recessions.
Market Misperceptions
By , The Washington Post, 10/28/2009
MarketMinder's View:
With less than half the stimulus package spent it’s a little early to be focused on what will happen to the economy once it’s been spent.
Market Misperceptions
By , MSNBC, 10/28/2009
MarketMinder's View:
This holiday season, Harrod’s department store will be selling gold bars. With the 2.2 pound bar setting shoppers back around $35,000, it seems a bit unlikely these items will be flying off the shelves. If for no other reason than gold is heavy. Really heavy.
Sensible Stories
By , The Wall Street Journal, 10/28/2009
MarketMinder's View: Another example of higher taxes not necessarily equaling higher tax revenue. California suffers a similar affliction.
Market Misperceptions
By , The Wall Street Journal, 10/28/2009
MarketMinder's View:
Capital and people will always be drawn to places where the tax burden is lower, particularly in an increasingly connected world.
Market Misperceptions
By , US News & World Report, 10/28/2009
MarketMinder's View:
Comparing the US’ economic growth rate to China’s, India’s, and Brazil’s is only one of the many errors in this argument’s logic. Emerging market economies are notably volatile and shouldn’t provide a benchmark for a developed economy like the US.
Market Misperceptions
By , Real Clear Markets, 10/28/2009
MarketMinder's View:
Big government is the wrong way to go about reinvigorating economic growth.
Sensible Stories
By , Real Clear Markets, 10/28/2009
MarketMinder's View: Big government is the wrong way to go about reinvigorating economic growth.
Market Misperceptions
By , CNN Money, 10/28/2009
MarketMinder's View:
Get excited for a likely positive GDP number! But not too excited? This is classic pessimism, hallmark during the early stages of bull markets.
Market Misperceptions
By , SmartMoney, 10/28/2009
MarketMinder's View:
Trying to time the market’s volatility by getting in and out of stocks (or ETFs) is almost always futile. Save yourself the anxiety (and transaction costs) and plan for the long haul—a correction is, by definition, just part of a broader bull market.
Market Misperceptions
By , CNN Money, 10/27/2009
MarketMinder's View:
It’s not great news for regional banks, but we wouldn’t be surprised to see some additional bank failures. But, don’t expect trouble with smaller banks to hold back the economic recovery or stocks.
Market Misperceptions
By , The Wall Street Journal, 10/27/2009
MarketMinder's View: “Lost Decade” fears abound. But there are far more differences between the US today and Japan than there are similarities. For more, see our 12/19/2008 cover story, “America’s Lost Decade?”
Market Misperceptions
By , Seeking Alpha, 10/27/2009
MarketMinder's View:
“Being bullish after a 50% bounce is simply silly.” Why? Believing stocks must fall just because they’ve gone up is silly. New bull markets typically have big surges early on—but it doesn’t mean the bull must end. For more, see our 09/30/2009 cover story, “A Strong Second Six.”
Market Misperceptions
By , The New York Times, 10/27/2009
MarketMinder's View:
It’s becoming stylish to call for more stimulus, but keep in mind, far less than half of the original stimulus has even been disbursed. And globally, there’s still huge amounts yet to be deployed. Patience, please. For more, see our 10/15/2009 cover story, “Change Ain’t Easy in DC.”
Sensible Stories
By , USA Today, 10/27/2009
MarketMinder's View: This is quite rational. After economic recovery is underway and firms are on surer footing, then they’ll consider hiring.
Sensible Stories
By , The Wall Street Journal, 10/27/2009
MarketMinder's View: “They [Economic and political liberty] are the engine driving much of what makes life worthwhile.” Well said.
Sensible Stories
By , CNN Money, 10/27/2009
MarketMinder's View: Having clearer, more streamlined regulation of financial firms is a good idea. But thinking any regulation can prevent all future financial crises is silly. Failure is an inherent part of capitalism, not a sign of irreversible systemic problems.
Sensible Stories
By , Financial Times, 10/27/2009
MarketMinder's View: What spot-on economic argument written with such brevity—luckily you didn’t have to wait for the stone carvers to finish to read it.
Sensible Stories
By , The Washington Times, 10/27/2009
MarketMinder's View: Could this be the real reason politicians are perpetually ineffectual? If so, we say leave their pay alone. (Heck, give them a pay cut.) Less legislation getting passed usually results in better stock market returns.
Sensible Stories
By , The New York Times, 10/27/2009
MarketMinder's View: A great illustration of why government should not be interfering with bankers remuneration—or indeed anyone else’s.
Market Misperceptions
By , Reuters, 10/27/2009
MarketMinder's View:
This is normal early in a recovery, not a sign of gloom. Unemployment typically keeps rising even after recovery begins. Once firms begin showing profitability again, they’ll begin hiring. For more, see our 10/5/2009 cover story, “Underemployment, Unemployment and Zombies.”
Market Misperceptions
By , San Francisco Chronicle, 10/26/2009
MarketMinder's View:
Virtually every economic recovery is jobless as jobs recover well after the stock market and the economy. See our 10/05/2009 cover story, “Unemployment, Underemployment and Zombies,” for more.
Market Misperceptions
By , Bloomberg, 10/26/2009
MarketMinder's View:
Unlikely. Central banks globally continue to support ongoing stimulus, and the S&P 500 is still very cheap relative to fixed-income alternatives.
Market Misperceptions
By , Financial Times, 10/26/2009
MarketMinder's View:
Effective regulation and transparency are good things. But the notion regulators can prevent problems and allocate capital more effectively than the private sector is simply wrong.
Sensible Stories
By , The Washington Post, 10/26/2009
MarketMinder's View: Highly paid executives have become the scapegoats of 2008’s financial crisis. See our 08/06/2009 column, “Hoopla Over Pay,” for more.
Market Misperceptions
By , The Associated Press , 10/26/2009
MarketMinder's View:
Corporate executives aren’t “gaming the system” by being cautious. Just months ago, many feared economic Armageddon, causing firms to cut back dramatically and lower earnings guidance. The economy isn’t rosy, but it’s far better than those exceptionally dour expectations—hence, better-than-expected earnings. See our 10/21/2009 cover story, “Unexpected Earnings,” for more.
Sensible Stories
By , CNN Money, 10/26/2009
MarketMinder's View: Job losses are likely to continue, but firms that cut back dramatically during the downturn will eventually find themselves short-handed as earnings results mostly surpass expectations.
Sensible Stories
By , Bloomberg, 10/26/2009
MarketMinder's View: It’s foolish to try to simultaneously help and punish financial firms.
Market Misperceptions
By , CNN Money, 10/26/2009
MarketMinder's View:
Expect the debt ceiling to be raised without sinking the economy as it has many times in the past.
Sensible Stories
By , Real Clear Markets, 10/26/2009
MarketMinder's View: Regulation can be a good thing, but we need more effective regulation, not just more regulation. See our 01/05/2009 column, “Deregulation … Regulation … What’s the Difference?” for more.
Market Misperceptions
By , CNN Money, 10/23/2009
MarketMinder's View: They’re coming—check history! A healthy economy begets job growth, not the other way around. For more, see our 10/05/2009 cover story, “Unemployment, Underemployment and Zombies.” 
Sensible Stories
By , Smart Money, 10/23/2009
MarketMinder's View: It never happened, that’s what. Headlines highlighting October as the “worst month for stocks” were misguided. It’s never wise to invest based on a month or seasonal myth. For more on ignoring seasonal myths, see our 08/28/2009 cover story, “Stay in September.”
Sensible Stories
By , CNBC, 10/23/2009
MarketMinder's View: Another positive sign we’re in the midst of an economic recovery—US manufacturing taking a turn for the better.
Market Misperceptions
By , The Wall Street Journal, 10/23/2009
MarketMinder's View: This idea that China will stop buying US assets is popular, but so far unfounded. China is buying US assets in record amounts. Look at what people (and countries) do, not what they say.
Sensible Stories
By , MarketWatch.com, 10/23/2009
MarketMinder's View: Far from it—chalk this up as a positive surprise for markets.
Market Misperceptions
By , The New York Times, 10/23/2009
MarketMinder's View: So, America needs a weak dollar to help reduce its trade deficit? Doesn’t make sense. Yes, a weaker dollar can help boost exports some, but our trade deficit isn’t a bad thing—it’s actually a mark of our relative economic strength.
Sensible Stories
By , Bloomberg, 10/23/2009
MarketMinder's View: China, who is largely leading this global recovery, is now adding jobs. As we’ve stated before, the economy recovers before unemployment—just as it’s doing in China.
Sensible Stories
By , Washington Post, 10/23/2009
MarketMinder's View: We’re not going to say the caps on pay are right or wrong, but you didn’t have to be a genius to see this coming from a mile away—people respond to incentives.
Market Misperceptions
By , MSN Money, 10/23/2009
MarketMinder's View: When we went to grammar school, we walked five miles, in snow, uphill both ways. Not that we’re advocating for HBS, but it’s probably a good thing schooling has evolved over the last 30 years.
Market Misperceptions
By , USA Today, 10/23/2009
MarketMinder's View:
Well of course there will be, but a bull market correction can happen at any time and is just a blip in an overall upward trend. Additionally, creating a stop-loss strategy only locks in those losses and does more harm than good over time.
 
Market Misperceptions
By , Reuters, 10/22/2009
MarketMinder's View:
Considering most other major developed nations also have large deficits, we can’t see how the US will lose its AAA rating. Plus, if America isn’t AAA, who is?
Sensible Stories
By , Bloomberg, 10/22/2009
MarketMinder's View: This confirms our view the US is on the road to recovery, but remember, any one indicator on its own can’t possibly accurately predict market or economic direction.
Market Misperceptions
By , CNBC, 10/22/2009
MarketMinder's View:
Stalling? Global stocks up 72% since March is hardly stalling. New bull markets don’t move in a straight line up. There can be a day or two or a week or few that they fall. This doesn’t portend ill—it’s normal.
Sensible Stories
By , The Australian, 10/22/2009
MarketMinder's View: Chinese stimulus spending continues to provide a good tailwind as their economic health improves.
Sensible Stories
By , The Wall Street Journal, 10/22/2009
MarketMinder's View: A very positive sign. Whereas personal consumption remains relatively firm, the largest contributor to growth going forward will be resurging business spending.
Market Misperceptions
By , Guardian.co.uk, 10/22/2009
MarketMinder's View:
We’d be better off focusing efforts on recovery rather than revenge, not withstanding that taxation is detrimental to everyone.
 
Sensible Stories
By , Telegraph.co.uk, 10/22/2009
MarketMinder's View: Certainly not—it just started!
Market Misperceptions
By , The New York Times, 10/22/2009
MarketMinder's View:
In the near term, any two things can be correlated—positively or negatively—but over the long run, dollar and oil price moves are utterly unrelated and meaningless to one another.
Market Misperceptions
By , Bloomberg, 10/22/2009
MarketMinder's View:
“US officials contemplating an exit from record fiscal stimulus are in danger of repeating mistakes that plunged Japan into its lost decade of stagnant growth.” Of course they’re contemplating an exit strategy—but there’s zero commitment to when it might happen. It’s unlikely anyone wants to throw stimulus into a hard reverse at this point.
Market Misperceptions
By , CNN Money, 10/22/2009
MarketMinder's View:
Jobs are historically one of the last things to turn around in a recovery. Expect more bumps and bruises for employment along the way.
Market Misperceptions
By , Reuters, 10/22/2009
MarketMinder's View:
We highly doubt Americans are opting out of present retirement plans due to a blip in their portfolios.
Sensible Stories
By , Investor’s Business Daily, 10/22/2009
MarketMinder's View: The kerfuffle over dark pools is a tempest in a teapot. Dark pools do, in fact, benefit all investors, including “small” ones. But we can’t see how requiring more transparency hurts one way or another.
Sensible Stories
By , Financial Times , 10/22/2009
MarketMinder's View: The size of China’s stimulus has been significant and the speed with which it has been deployed is clearly paying dividends.
Market Misperceptions
By , Telegraph, 10/21/2009
MarketMinder's View: Rising oil prices will cause a double-dip recession? More likely, rising prices are signaling the world is returning to economic health.
Sensible Stories
By , The Wall Street Journal, 10/21/2009
MarketMinder's View: Increased business spending likely indicates a rise in demand—both good signs for a recovering economy.
Sensible Stories
By , USA Today, 10/21/2009
MarketMinder's View: Ah yes, the unintended consequences of punishing banks for charging fees for their services—responsible borrowers (i.e., most of us) get hit with fees too!
Market Misperceptions
By , MarketWatch.com, 10/21/2009
MarketMinder's View:
“The DNA of the global marketplace is vastly different than what it was when secular bull markets of periods past began to germinate.” – Beware the notion that this time it’s different. Financial products are not part of the DNA, people and their capitalist tendencies are – this hasn’t changed.
 
Sensible Stories
By , Barron’s, 10/21/2009
MarketMinder's View: Credits to the right of them, credits to the right of them! We know that’s not how it goes, but wouldn’t it be nice to live in a world where the government didn’t distort markets with tax credits (giveaways) to certain favored portions of the market? We can dream.
Market Misperceptions
By , Moneywatch.com, 10/21/2009
MarketMinder's View:
“That’s the new normal: stocks are risky, but you can’t live without ‘em.” Wasn’t that always normal? What’s new about that? As expected, investor risk appetite is returning, just like after previous bears. For more, see our 10/19/2009 cover story, “Not So New Normal.”
Sensible Stories
By , The Globe and Mail, 10/21/2009
MarketMinder's View: It’s still early, but earnings season has gotten off to an unexpectedly good start. For more, see today’s cover story, “Unexpected Earnings.”
Market Misperceptions
By , Kudlow’s Money Politics, 10/21/2009
MarketMinder's View:
The dollar’s relative strength says nothing about the future direction of stocks or the economy. The dollar has been both weak and strong in good times and bad. For more, read see our 10/08/2009 cover story, “The Dollar’s Doom Looms?”
Sensible Stories
By , The Wall Street Journal, 10/21/2009
MarketMinder's View: Keeping stimulus measures in place for the time being will likely help the nascent global economic recovery.
Sensible Stories
By , Financial Times, 10/21/2009
MarketMinder's View: This goes as much for any government as well as the US government—the less centralized control the better.
Market Misperceptions
By , The Associated Press, 10/21/2009
MarketMinder's View:
“The words ‘it’s different this time’ are always suspect.” Correct! However, instead of stopping there, this article goes on to explain why it will be different this time. We doubt it. For more, see our 07/31/2009 cover story, “Musical Chairs.”
Sensible Stories
By , Investor’s Business Daily, 10/20/2009
MarketMinder's View: We’d agree cap-and-trade legislation will likely cause more negative, unintended consequences than anything else. For more, see our 03/26/2009 cover story, “Climate Control.”
Sensible Stories
By , Forbes.com, 10/20/2009
MarketMinder's View: We also see the economy continuing to exceed expectations—this should provide a further boost to equities.
Market Misperceptions
By , New York Post, 10/20/2009
MarketMinder's View: Weak or strong, the dollar’s relative strength says nothing about future market direction— “propping it up” is just silly.
Sensible Stories
By , Kiplinger, 10/20/2009
MarketMinder's View: And let’s also include earnings are likely to beat too-meager expectations.
Market Misperceptions
By , USA Today , 10/20/2009
MarketMinder's View:
Relying on technical indicators as the key signal to either buy or sell will do more harm than good.
 
Market Misperceptions
By , The New York Times, 10/20/2009
MarketMinder's View: Employment will rise once the recovery is underway, as it always does. Firms don’t hire before their profitability returns. If you ran a business, when would you hire—when you could afford it, or when you couldn’t? We’re not really sure we understand how paying or not paying bonuses to one set of people translates to broad-based hiring decisions.
Sensible Stories
By , Times Online, 10/20/2009
MarketMinder's View: Many investors wrongly used their rear-view mirror to decide on their allocations earlier in the year as opposed to always positioning your portfolio take advantage of future opportunities.
Market Misperceptions
By , Smart Money, 10/20/2009
MarketMinder's View: Why? Rates have been low all year while stocks have boomed.
Market Misperceptions
By , The American, 10/20/2009
MarketMinder's View: Fiscal stimulus is always inherently inefficient. Few would disagree—on average, the government spends money very, very stupidly. But that money gets spent and handed to people and institutions, who spend the money more wisely. For this reason, the benefits of fiscal stimulus, when needed, can outweigh the drawbacks of governmental stupidity.
Market Misperceptions
By , The Washington Post, 10/20/2009
MarketMinder's View: Saving is great! But a “prudent” saver might want to consider saving more in an asset class that’s historically beaten all similarly liquid alternatives—stocks.
Sensible Stories
By , The Wall Street Journal, 10/20/2009
MarketMinder's View: Indeed—and we feel that the best group to decide whether bigger is better are the customers, not regulators.
Sensible Stories
By , Newsweek, 10/20/2009
MarketMinder's View: Consumers are more resilient than most believe and are, in fact, alive and well. For more, see our 08/17/2009 cover story, “The Report of the Consumer’s Death Is an Exaggeration.”
Market Misperceptions
By , Financial Times, 10/19/2009
MarketMinder's View:
“Only massive programmes are equal to the challenge of restoring stable growth to our economy.” Massive programmes sounds like  massive government--the free market would do a much better job.
 
Market Misperceptions
By , ABC News, 10/19/2009
MarketMinder's View:
Too fast? There’s never a perfect way to spend stimulus money, but  only about half has been disbursed. See our 10/15/2009 cover story, “Change Ain’t Easy in DC,” for more. 
Market Misperceptions
By , CNN Money, 10/19/2009
MarketMinder's View:
Yes, we have a big deficit. But historically, big deficits haven’t led to market ruin. Case in point: The US stock market has been steadily rising since its March low, despite the large deficit.
Market Misperceptions
By , Seeking Alpha, 10/19/2009
MarketMinder's View:
A few months ago, we were in the “Greatest Depression.” Since that turned out to be wrong, now it hasn’t arrived yet? No—globally, there are ample signs we are heading back toward growth mode. For more, see our 10/01/2009 cover story “A Sign of Better Days to Come.”
Market Misperceptions
By , The Washington Post, 10/19/2009
MarketMinder's View:
We’re uncertain why politicians are uniquely positioned to set compensation. Said another way: Do you want them dictating how you’re paid? See our 08/06/2009 column, “Hoopla Over Pay,” for more.
Sensible Stories
By , Bloomberg, 10/19/2009
MarketMinder's View: As always, look at what people do, not what they say. Though headlines scream no one wants US debt, facts prove quite the reverse. See our 06/03/2009 cover story, “Reserved Panda-monium,” for more.
Market Misperceptions
By , The Wall Street Journal, 10/19/2009
MarketMinder's View:
This may not be the wisest move to support Japan’s nascent recovery. See our 09/24/2009 cover story, “Stimulus U-Turn,” for more.
Sensible Stories
By , Bloomberg.com, 10/19/2009
MarketMinder's View: Rumors of the death of the American consumer have been greatly exaggerated. This is good news for the Economy.
Sensible Stories
By , National Post, 10/19/2009
MarketMinder's View: Remember the saying, “Be fearful when others are greedy and greedy when others are fearful”? Also, long term, gold’s had lousy overall returns, and is a faulty inflation indicator. See our 09/10/2009 cover story, “The Bling Fling,” for more.
Sensible Stories
By , The Financial Times, 10/19/2009
MarketMinder's View: We don’t agree with everything said here but investing in Emerging Markets is a product of looking globally for opportunities – which we wholeheartedly support.
Sensible Stories
By , The Wall Street Journal, 10/19/2009
MarketMinder's View: The frauds and shysters are typically unearthed at or near the end of recessions—always been that way, likely always will.
Market Misperceptions
By , Financial Times, 10/19/2009
MarketMinder's View:
Bubbles and busts always happen—nothing new, happened in the past, and will happen again in the future. But stocks are in a bubble just because inflation may be a risk down the road? Doesn’t make sense.
Sensible Stories
By , US News, 10/19/2009
MarketMinder's View: We’ve said it before: Jobs rates historically lag economic recoveries which lag stock market recoveries. Why? Because economic growth begets hiring, not the other way around. See our 07/23/2009 column, “Cheerless Recoveries,” for more.
Sensible Stories
By , The Telegraph, 10/19/2009
MarketMinder's View: Imposing taxes is the threat to Financials brought about by government involvement and will serve to benefit no-one. Political expediency is far removed from good economics.
Sensible Stories
By , MSN Money, 10/19/2009
MarketMinder's View: Saving is great! But it’s true—if you have a long time horizon, saving in a bank account doesn’t make much sense, and stocks are likelier to yield much better returns over time.
Sensible Stories
By , The American, 10/16/2009
MarketMinder's View: The world is only getting more globalized. To stay competitive, we should embrace it, not try to “recapture a bygone era.”
Market Misperceptions
By , The Telegraph, 10/16/2009
MarketMinder's View:
Isn’t this just repeating old news. Of course risks remain but there’s no evidence to suggest the economic recovery is faltering.
 
Sensible Stories
By , Bloomberg.com , 10/16/2009
MarketMinder's View: As we’ve said before good news far outweighs bad as the economy continues to recover.
Sensible Stories
By , BusinessWeek, 10/16/2009
MarketMinder's View: For all the talk of the world turning its collective back on the US, it sure seems like folks still want our assets. Watch what people do, not what they say.
Sensible Stories
By , The Washington Post, 10/16/2009
MarketMinder's View: Much better-than-expected earnings from struggling Financials tell us some of the nation’s largest banks are on their way to a healthy recovery.
Market Misperceptions
By , The Wall Street Journal, 10/16/2009
MarketMinder's View: Small bank failures aren’t a sign of systemic failure. It’s normal to see banks fail, even in healthy times, and particularly at the end of a recession.
Market Misperceptions
By , Smart Money, 10/16/2009
MarketMinder's View: Well yes, having 5,300% inflation like Zimbabwe would be terrible. But considering US inflation has basically been flat for some time, this fear is a touch premature.
Sensible Stories
By , The Wall Street Journal, 10/16/2009
MarketMinder's View: Free trade agreements enhance global trade and with it economic growth. We hope America follows soon.
Market Misperceptions
By , Daily Telegraph, 10/16/2009
MarketMinder's View: Who wants the government dictating how much compensation we deserve? We hardly think this would do much to help the financial (or any) industry. Likely, this will drive away talented job-seeking individuals.
Sensible Stories
By , Bloomberg, 10/15/2009
MarketMinder's View: “The cost of living in the US rose at a slower pace in September, showing inflation will not be a threat.” Despite massive money creation, offsetting economic factors likely mean it’ll be a while until inflation becomes a serious threat, if it does at all.
Market Misperceptions
By , MarketWatch, 10/15/2009
MarketMinder's View:
Taxing financial transactions is a bad idea. They’d likely make capital markets less efficient and be passed on to average folks.
Market Misperceptions
By , The New York Times, 10/15/2009
MarketMinder's View:
Smart people are the death of us? This whole analysis is fraught with idiocy.
Sensible Stories
By , The Financial Times , 10/15/2009
MarketMinder's View: Global trade is still down from its peak but here is an example of its recent resurgence.
Sensible Stories
By , Kiplinger, 10/15/2009
MarketMinder's View: Keeping your emotions in check and staying disciplined are essential in investing.
Market Misperceptions
By , MSN Money, 10/15/2009
MarketMinder's View:
The dollar doom and gloom continues. For more, see our 10/08/2009 cover story, “The Dollar’s Doom Looms?”
Market Misperceptions
By , The Wall Street Journal, 10/15/2009
MarketMinder's View:
The federal debt and deficit aren’t the massive problems they’re made out to be. Relative to the size of the economy, government debt is in line with past levels, and low interest rates are keeping debt servicing costs in check. And stocks have historically done very well following periods of big deficits.
Market Misperceptions
By , Slate, 10/15/2009
MarketMinder's View:
This argument’s got it all wrong. Private equity firms frequently take companies private, run them for a bit, then either sell them or take them public again. PE firms executing their normal business model isn’t a sign of a market top. On the contrary, it reflects an increased appetite for stocks.
Sensible Stories
By , SmartMoney, 10/15/2009
MarketMinder's View: The Dow “crossed a meaningless threshold.” Amen. For more, see our 07/24/2009 cover story “Misleading Milestones.”
Sensible Stories
By , Investor’s Business Daily, 10/15/2009
MarketMinder's View: Excessive risk can be dangerous, but so can excessive risk aversion—this discussion is worth keeping an eye on.
Market Misperceptions
By , The Economist, 10/15/2009
MarketMinder's View:
Wary banks and borrowers are normal during a recession, especially one centered around a banking crisis. Credit markets are much improved from last year’s freeze. Expect borrowing to pick up as the economy does. For more, see our 09/18/2009 cover story, “Wading Back In.” 
Market Misperceptions
By , Bloomberg.com , 10/15/2009
MarketMinder's View:
Currencies are a zero sum game. When one is weak, another is equally strong. Having a global portfolio reduces your reliance on one currency’s strength or weakness.
 
Market Misperceptions
By , The New York Times, 10/14/2009
MarketMinder's View:
So what Wall Street needs is fewer “smart guys” – some innovative products work, some don’t, but to remove that innovation is detrimental long-term.
Sensible Stories
By , The Wall Street Journal, 10/14/2009
MarketMinder's View: The Bank of Japan joins central banks around the world in keeping rates low and continuing stimulative policies (in their case, buying bank-owned corporate debt). As global economic recovery takes hold, an accommodative stance from central banks will help boost sustainability.
Sensible Stories
By , The New York Times, 10/14/2009
MarketMinder's View: Credit Agricole became the last French bank to outline repayment plans for funds received in a government bailout. Similar to news US firms are repaying TARP, this likely indicates the French financial system is also well on its way to pre-crisis stability.
Market Misperceptions
By , CBS News, 10/14/2009
MarketMinder's View:
What does it mean when Dow reaches the 10,000 milestone? Nothing! For more, see our 7/24/2009 cover story, “Misleading Milestones.”
Sensible Stories
By , Financial Times, 10/14/2009
MarketMinder's View: A look at how regulation in the airline industry can serve as a useful guide when considering financial reform. No matter how good the intentions are, the risks of the regulations becoming over bearing are always there and the markets generally do a better job.
Market Misperceptions
By , The Wall Street Journal, 10/14/2009
MarketMinder's View:
Concerns over the dollar’s strength as the world’s reserve currency are nothing new. Critics are using the US’ crisis-triggered spending as yet another reason the currency is doomed to fail. For more, see our 10/08/2009 cover story, “The Dollar’s Doom Looms?”
Market Misperceptions
By , MarketWatch, 10/14/2009
MarketMinder's View:
We’re in the middle of a secular bear market? This is just another rally leading to destruction of wealth? Repeat of Japan in the ‘90s? More bricks in the wall of worry stocks are climbing.
Market Misperceptions
By , Time, 10/14/2009
MarketMinder's View:
While a correction is possible, even likely, that doesn’t mean this bull market won’t continue to rise. A wall of worry, like investors are facing now, is a bullish sign. For more, see our 10/07/2009 cover story, “Doubt in the Driver’s Seat.”
Sensible Stories
By , Reuters, 10/14/2009
MarketMinder's View: Both exports and imports for the emerging economy beat analyst expectations, signaling a pickup in overall trade activity.
Market Misperceptions
By , Associated Press, 10/14/2009
MarketMinder's View:
It’s true, making emotional investing decisions can be risky. Relying on an “EmoBracelet” to tell you how you’re feeling (and thus indicate whether you’re making a rash decision) also sounds risky.
Market Misperceptions
By , Christian Science Monitor, 10/14/2009
MarketMinder's View:
The four most dangerous words—“it’s different this time.” While every cycle features some changes in leadership, innovation, and creative destruction, these are the very fabric of capitalism, not a sign of fundamental trouble.
Sensible Stories
By , The Atlantic, 10/14/2009
MarketMinder's View: Precisely. “Who would you rather have making important decisions that affect the economy: a former Wall Streeter who actually worked in the market every day or a career bureaucrat who has read a lot of books about the market?” We agree there must be some separation between Washington and Wall Street, but bringing in experienced professionals isn’t a bad thing.
Market Misperceptions
By , The Independent, 10/13/2009
MarketMinder's View:
How do you get from a business confidence survey to any accurate measure of GDP? The UK may not return to positive growth this quarter but it’s stronger than three months ago and that’s reflected in the upward movement the markets have already made.
Market Misperceptions
By , MarketWatch, 10/13/2009
MarketMinder's View: We don’t agree with all this, but the perspective that a weak dollar has both costs and benefits is an important one. And for well-diversified global investors, currency moves of the moment won’t ultimately matter much either way.
Market Misperceptions
By , Bloomberg, 10/13/2009
MarketMinder's View: The notion we’ve come “too far, too fast” is typical at the beginning of bull markets. For more, see our 05/12/2009 cover story, “Too Fast, Too Furious?”
Sensible Stories
By , Slate, 10/13/2009
MarketMinder's View: One of the reasons we are upbeat on the economy going forward is that the recovery is largely taking place without stimulus. It’s a good thing that the stimulus measures will enter the economy over time rather than all at once.
Sensible Stories
By , BusinessWeek, 10/13/2009
MarketMinder's View: Yes, just another misleading milestone. Plus, the Dow is price-weighted and only has 30 constituents—both make for a broken index. For more, see our 07/24/2009 cover story, “Misleading Milestones.”
Sensible Stories
By , The Wall Street Journal, 10/13/2009
MarketMinder's View: For now, it seems a tax hike on US companies’ foreign earnings is on the back burner. The longer such initiatives are delayed, the greater the chances they’ll stall indefinitely as politicians move toward the middle of election season.
Sensible Stories
By , Bloomberg, 10/12/2009
MarketMinder's View: The stock market rally since March has been tremendous and should continue, with some volatility, for the foreseeable future.
Sensible Stories
By , The Wall Street Journal, 10/12/2009
MarketMinder's View: Economic data is beginning to tell us what the market has indicated for months: Recovery is underway.
Sensible Stories
By , The Wall Street Journal, 10/12/2009
MarketMinder's View: Improving global trade is an important sign of a healthy global economy. See our 09/04/2009 column, “Trade Winds,” for more.
Sensible Stories
By , TimesOnline, 10/12/2009
MarketMinder's View: Well of course! An excellent way to reduce poverty is through the elimination of trade barriers by allowing individuals do what they do naturally—trade with each other.
Market Misperceptions
By , Time, 10/12/2009
MarketMinder's View:
The 401(k) isn’t a failed vehicle just because the market fell for a period. Investing is still the best way for most to plan for retirement. And GM and Chrysler retirees can attest to the fact defined benefit plans aren’t a panacea either.
Sensible Stories
By , The Wall Street Journal, 10/12/2009
MarketMinder's View: “When it comes to the economy and financial markets, good news has far outweighed bad news in 2009.” – Well put.
Sensible Stories
By , Reason.com, 10/12/2009
MarketMinder's View: Some regulation is well and good, but overregulation can be worse than no regulation at all. See our 01/05/2009 column, “Deregulation…Regulation…What’s the Difference?” for more.
Market Misperceptions
By , MoneyWatch.com, 10/12/2009
MarketMinder's View:
Using the market bottom in mid-March as the backbone of an argument against stock market returns is more convenient than it is sensible.
Market Misperceptions
By , Kiplinger, 10/12/2009
MarketMinder's View:
Beware those claiming “it’s different this time.” Those are the most dangerous (and expensive) words in finance.
Market Misperceptions
By , CNN Money, 10/12/2009
MarketMinder's View:
“Ultimately (simply shopping for the best car at the best price) may be the best for everyone, pushing American car companies to compete globally by making better cars.” We couldn’t agree more. See our 06/24/2009 cover story, “Buy Apple Pie,” for more.
Sensible Stories
By , CNN Money, 10/12/2009
MarketMinder's View: “There may be a lot of talk about the need to replace the dollar as the global reserve currency. But for now, that’s all it is. Talk.” Amen. See our 10/08/2009 cover story, “The Dollar’s Doom Looms?” for more.
Market Misperceptions
By , Time, 10/12/2009
MarketMinder's View:
Dollar weakness may continue, but that shouldn’t worry investors. Exchange rate movements don’t tell you much about where stocks are headed. For more, see our 09/17/2009 column, “Confounding Currency Myths.”
Sensible Stories
By , The Motley Fool, 10/09/2009
MarketMinder's View: As we’ve said before, don’t get caught up in the fallacy, “it’s different this time.”
Sensible Stories
By , Reuters, 10/09/2009
MarketMinder's View: China reiterates its commitment to remaining accommodative and helping goad recovery.
Market Misperceptions
By , BusinessWeek, 10/09/2009
MarketMinder's View: Sure, the current unpredictable job market isn’t stellar, but it’s normal for unemployment to spike at the end of recessions. As the economy recovers, employment will follow, as it always does.
Sensible Stories
By , Kiplinger, 10/09/2009
MarketMinder's View: Well, probably it is. But the end won’t be officially dated until long afterwards. And even if the US doesn’t officially return to growth for a bit, the world is heading back toward growth mode. Most important—stocks typically start rising well in advance of recovery.
Market Misperceptions
By , The Wall Street Journal, 10/09/2009
MarketMinder's View: A popular concern, but the world abandoning the dollar as its dominant currency is overblown. Further, even if it happened, it wouldn’t have the impact most fear. For more, see our 10/08/2009 cover story, “The Dollar’s Doom Looms?”
Sensible Stories
By , The Washington Post, 10/09/2009
MarketMinder's View: While spending didn’t fall nearly as much as many think, retail sales on the rise prove consumers are more resilient than most believe
Market Misperceptions
By , The New Republic , 10/09/2009
MarketMinder's View: Markets are volatile—simply axiomatic. More regulation will not make markets less volatile. In fact, arbitrary regulation can lead to harmful distortions. There’s nothing wrong with having more transparency, but thinking more regulation will cure markets of their cyclical nature is just wrong.
Sensible Stories
By , The Wall Street Journal, 10/09/2009
MarketMinder's View: What they need is banks unconstrained from restrictive government intervention.
Market Misperceptions
By , BBC News, 10/09/2009
MarketMinder's View:
Certainly economic recovery has some way to go but we are well away from the panic period experienced last fall.
Sensible Stories
By , Bloomberg, 10/08/2009
MarketMinder's View: Global central banks remain largely aligned in their efforts to remain accommodative to help goad recovery.
Market Misperceptions
By , BBC News, 10/08/2009
MarketMinder's View:
We’ve been fretting about oil decline since the 1970’s and we now have more proven oil reserves now than we did back then.
Market Misperceptions
By , Associated Press, 10/08/2009
MarketMinder's View:
Not surprising that, in a tail end of a recession, folks are borrowing less. However, spending in August was up, and overall, consumer spending was very resilient through the recession. For more, see our 10/01/2009 cover story, “A Sign of Better Days to Come.”
Sensible Stories
By , BusinessWeek, 10/08/2009
MarketMinder's View: While the financial industry could always benefit from more transparency and streamlining reform, knee-jerk, haphazard reform will likely have a host of unintended, negative consequences.
Market Misperceptions
By , The American, 10/08/2009
MarketMinder's View:
No, the stimulus hasn’t resulted in a wave of new jobs—nor should you expect it to. Typically, unemployment continues getting worse even as an economy recovers. Firms don’t hire in anticipate of later growth—that’s irrational. First, they max out their current capacity, then start expanding and hiring.
Sensible Stories
By , SmartMoney, 10/08/2009
MarketMinder's View: And who says consumers aren’t spending? Whether boomers or otherwise, consumers are more resilient than most realize.
Market Misperceptions
By , The Wall Street Journal, 10/08/2009
MarketMinder's View:
Gloom-and-doomers miss an important historical fact—the second six months following bull markets are overwhelming positive and above average. Not as big as the first six, but not something to miss. For more, see our 09/30/2009 cover story “A Strong Second Six.”
Sensible Stories
By , The Wall Street Journal, 10/08/2009
MarketMinder's View: Microfinancing, or extending credit to individuals without access to traditional means of financing, has been an innovative means of lifting people out of poverty.
Market Misperceptions
By , MSNBC, 10/07/2009
MarketMinder's View: A “V”-shaped stock recovery doesn’t necessarily need a “V”-shaped economic recovery. For more, see today’s cover story, “Doubt in the Driver’s Seat.”
Market Misperceptions
By , The Telegraph, 10/07/2009
MarketMinder's View:
Corrections are part of bull markets, but trying to time the market on short-term moves is not a recipe for success.
 
Sensible Stories
By , The Independent, 10/07/2009
MarketMinder's View: Chinese consumers are putting up a strong showing as early reports show a week-long holiday is boosting travel and retail spending.
Market Misperceptions
By , The Washington Post, 10/07/2009
MarketMinder's View:
This overly dour look at the prospects (or lack thereof) for the impending recovery relies on the faulty assumption, “it’ll be different this time.”
Market Misperceptions
By , CNN Money, 10/07/2009
MarketMinder's View: This meaningless milestone doesn’t necessarily indicate much about inflation or future stock market direction.
Market Misperceptions
By , The Washington Post, 10/07/2009
MarketMinder's View:
The dollar’s value will continue to fluctuate, and will continue to have little impact on stocks’ direction. For more, see today’s cover story, “Doubt in the Driver’s Seat.”
Sensible Stories
By , Forbes.com , 10/07/2009
MarketMinder's View: Independence from quasi-government institutions that is, although these countries have become more connected to the private capital markets and the global economy—a step in the right direction.
Market Misperceptions
By , BusinessWeek, 10/07/2009
MarketMinder's View:
Currently, the absolute level of earnings matters less for stock prices compared to whether they outpace today’s generally dour expectations. See our 9/30/2009 cover story, “A Strong Second Six,” for more.
Sensible Stories
By , Bloomberg, 10/07/2009
MarketMinder's View: Not surprisingly, a financial regulation bill isn’t likely to pass this year as “lawmakers disagree on the plan and need time to weigh proposals.” The longer it takes, the more watered down it will become. That’s typically how it works in Washington.
Sensible Stories
By , Real Clear Markets, 10/07/2009
MarketMinder's View: Hold on! Politicians love to raise taxes on things like cigarettes in the hope that people will smoke less but apparently the same laws of economics don’t apply to incomes. The more you tax something, the less you get of it.
Sensible Stories
By , Kiplinger, 10/07/2009
MarketMinder's View: “Lesson 1: The stock market turns up when pessimism is rampant.” Check! “Lesson 2: A bear market associated with a recession almost always ends in the middle of the economic downturn.” Check! And the list goes on—this article details some primary reasons investors needn’t fear this bull market.
Sensible Stories
By , Investor’s Business Daily, 10/07/2009
MarketMinder's View: Imposing a tax at every level of production would create more revenue for the government (short term), but at the expense of every American consumer, producer, and business owner. Not a great way to keep a recovering economy stimulated.
By , Los Angeles Times, 10/06/2009

MarketMinder's View: We’ve discussed the alleged risks highlighted in this article numerous times in recent months, so we’ll spare you the repetition and zero in on the personal finance advice here. By encouraging investors to consider only how much money they can afford to lose, it takes too narrow and myopic a view. Risk tolerance is important, but we think long-term goals and time horizon—the length of time your money must be invested to reach your goals—are the best starting point. If your goals require enough compound growth to sustain cash flows over the next couple decades, then you might feel differently about the concept of keeping three to five years’ worth of expenses in cash just in case stocks fall. You might decide it makes more sense to keep a smaller buffer, knowing bear markets historically last 16 months on average, and allocate more to stocks (and maybe bonds, depending) so you can have more of your wealth working toward your goals. There are always tradeoffs, but going heavy into cash now could reduce your returns over time, making your goals harder to reach.

Sensible Stories
By , Forbes.com, 10/06/2009
MarketMinder's View: Adding one comment to this really wouldn’t do it justice—this is a must read.
Market Misperceptions
By , Bloomberg.com, 10/06/2009
MarketMinder's View:
Mergers aren’t inherently bad—we think this could be a good opportunity for weaker companies to be taken over by a stronger pair of hands. 
 
Market Misperceptions
By , Associated Press, 10/06/2009
MarketMinder's View:
The recession has created challenges as well as opportunities for people of all ages.
Sensible Stories
By , The Washington Post, 10/06/2009
MarketMinder's View: Exports have fueled China’s growth, but China is becoming an important end market for both Chinese and foreign goods.
Sensible Stories
By , Yahoo! Finance, 10/06/2009
MarketMinder's View: We’d agree—go against herd mentality. While it may be difficult for investors, it can be rather beneficial for your portfolio. Remember the adage, “Be greedy when others are fearful.”
Market Misperceptions
By , MSN Money, 10/06/2009
MarketMinder's View:
Stocks can rise quickly without an equally rapid economic recovery. For more, see our 08/20/2009 cover story, “Alphabet Soup Recovery.”
Sensible Stories
By , The New Yorker, 10/06/2009
MarketMinder's View: “Before we go proclaiming this the age of the American tightwad, a little perspective is in order.” This piece provides a lot of it.
Market Misperceptions
By , TimesOnline, 10/06/2009
MarketMinder's View:
How’s this for government logic? Provide money to the banks to help them, then attempt to punish them by telling them to get rid of customers.  
Market Misperceptions
By , MarketWatch, 10/06/2009
MarketMinder's View:
Pricing oil in gold instead of dollars, huh? Isn’t gold priced in dollars? Ignore.
Sensible Stories
By , The Wall Street Journal, 10/06/2009
MarketMinder's View: Starting next week—five investment funds will begin buying troubled assets via the PPIP.
Market Misperceptions
By , BusinessWeek, 10/06/2009
MarketMinder's View:
Playing a waiting game with stocks is never wise. The early stages of new bull markets are volatile, and it can be dangerous to sit on the sidelines and wait for the “dips” to invest.
Sensible Stories
By , Financial Times, 10/06/2009
MarketMinder's View: “Equities offer investors excellent returns to those willing to accept the market’s volatility.” Amen.
Sensible Stories
By , Financial Times, 10/06/2009
MarketMinder's View: “Equities offer investors excellent returns to those willing to accept the market’s volatility.” That statement is as true today as it ever was.
Market Misperceptions
By , Bloomberg, 10/05/2009
MarketMinder's View:
History shows stocks can recover quickly without a “V”-shaped economic recovery. See our 06/23/2009 cover story, “Cloudy With a Chance of Meatballs,” for more.
Market Misperceptions
By , CNN Money, 10/05/2009
MarketMinder's View:
Taxes are just one of many factors affecting the economy and wouldn’t necessarily stall recovery. But higher taxes are likely to do more harm than good.
Market Misperceptions
By , MarketWatch, 10/05/2009
MarketMinder's View:
First stocks begin to recover, then the economy, then employment. See today’s cover story, “Unemployment, Underemployment and Zombies,” for more.
Sensible Stories
By , The Wall Street Journal, 10/05/2009
MarketMinder's View: To promote lasting economic growth, you need to create incentives, not provide handouts. This plan was doomed from the beginning.
Market Misperceptions
By , LewRockwell.com, 10/05/2009
MarketMinder's View:
Economic recoveries are almost always initially jobless. If a weak economy caused unemployment to increase, and the economy couldn’t improve until employment does, no country would ever recover from recession.
Market Misperceptions
By , The New York Times, 10/05/2009
MarketMinder's View:
That only took a year—government efficiency at its best.
 
Sensible Stories
By , Portfolio.com, 10/05/2009
MarketMinder's View: Excessive new share issuance (think dot-com boom) can be problematic, but the recent modest increase in IPOs shows risk aversion is abating and capital markets are functioning.
Sensible Stories
By , Financial Times, 10/05/2009
MarketMinder's View: Growth is returning to the biggest portion of the UK economy.
Sensible Stories
By , Real Clear Markets, 10/05/2009
MarketMinder's View: It’s impossible to say how things might have unfolded without government and central bank intervention, but actions aimed at shoring up the financial system and unfreezing credit markets were largely positive.
Sensible Stories
By , Kiplinger, 10/05/2009
MarketMinder's View: Some good observations of the still-nascent bull market. See our 11/17/2008 cover story, “Invest for the Future, Not the Present,” for more.
Sensible Stories
By , MSN Money, 10/05/2009
MarketMinder's View: Massive monetary and fiscal stimulus is lubricating capital markets, which are starting to function normally again.
Market Misperceptions
By , MoneyWatch, 10/05/2009
MarketMinder's View:
Beware investing myths like this one. Fact is, no one month is worse or better for stocks than others. See our 08/28/2009 cover story, “Stay in September,” for more.
Market Misperceptions
By , Bloomberg, 10/02/2009
MarketMinder's View: Massive fiscal and monetary stimulus was necessary to support a frozen system. Investors needn’t be concerned with rising deficits or debt—historically elevations in both have proven more benign than widely believed.
Sensible Stories
By , SmartMoney, 10/02/2009
MarketMinder's View: For those who fret about an aging population, the demographic shift may not be as significant in the US as most expect.
Sensible Stories
By , The Wall Street Journal, 10/02/2009
MarketMinder's View: Unemployment usually recovers after the economy has already picked up and long after stocks have begun to rise.
Market Misperceptions
By , Seeking Alpha, 10/02/2009
MarketMinder's View: There doesn’t need to be a “V” economic recovery for there to be a “V” recovery in stocks. For more, see our 09/30/2009 cover story, “A Strong Second Six.”
Market Misperceptions
By , Barron’s, 10/02/2009
MarketMinder's View: The beginnings of bull markets typically feature such sentiment.
Market Misperceptions
By , TheStreet.com, 10/02/2009
MarketMinder's View:
Surprises move markets, not old stories that have dominated headlines for months..
 
Sensible Stories
By , MarketWatch, 10/02/2009
MarketMinder's View: While there’s no validity in the myth one month is inherently worse than the other for stocks, we’d agree positive economic signals abound.
Sensible Stories
By , Bloomberg.com, 10/02/2009
MarketMinder's View: Further positive signs that the economy is recovering.
Market Misperceptions
By , The Wall Street Journal, 10/02/2009
MarketMinder's View: This misses the point—in the last year, capital markets have stabilized and credit conditions continue to ease toward pre-crisis levels. With a steep positive yield curve, lending will eventually reaccelerate.
Market Misperceptions
By , Barron’s , 10/02/2009
MarketMinder's View: Ignore technical analysis. For more, see our 09/18/2009 cover story, “Wading Back In.”
Sensible Stories
By , The New York Times, 10/02/2009
MarketMinder's View: As we’ve said, trade spats rarely amount to much as nations inevitably realize the benefits free trade provides. For more, see our 09/16/2009 cover story, “Minor in the Key of Kerfuffle.”
Market Misperceptions
By , Bloomberg, 10/01/2009
MarketMinder's View:
Select institutions will fail, but overall, the financial system is on much more stable ground than many believed just months ago.
Sensible Stories
By , Abnormal Returns, 10/01/2009
MarketMinder's View: “The stock market is going to do what it is going to do in October and it will have nothing to do with what month it reads at the top of the calendar.” Exactly. Markets don’t care about months or seasons—there’s no validity to myths that say one month is inherently worse than another. For more, see our 08/28/2009 cover story, “Stay in September.”
Dueling Headlines
By , The Wall Street Journal, 10/01/2009
MarketMinder's View: Don’t pay attention to contradicting messages on the IMF. Global economic recovery has been and continues to be well on its way.
Sensible Stories
By , Bloomberg, 10/01/2009
MarketMinder's View: Consumers have been much more resilient through this downturn than most people believe. For more, see our 08/17/2009 cover story “The Report of the Consumer’s Death Is an Exaggeration.”
Market Misperceptions
By , USA Today, 10/01/2009
MarketMinder's View:
Stock market gyrations can be difficult to stomach. Capturing stock’s strong long-term returns requires discipline and occasionally a few Rolaids.
Sensible Stories
By , The Telegraph, 10/01/2009
MarketMinder's View: There’s no silver bullet to stop crises from occurring, whether they be financial or otherwise.
Sensible Stories
By , The New Zealand Herald, 10/01/2009
MarketMinder's View: Despite rumblings about advancing protectionism, free trade remains an essential engine for the global economy.
Market Misperceptions
By , Los Angeles Times, 10/01/2009
MarketMinder's View:
When has any bull market been one seamless ride upwards? Of course there will be periods of correction but don’t let that scare you out of stocks.
 
Market Misperceptions
By , 24/7 Wall Street, 10/01/2009
MarketMinder's View:
The FDIC has plenty of resources available. For more, see our 09/03/2009 cover story, “FDIC Out of Cash?”
Sensible Stories
By , Investor’s Business Daily, 10/01/2009
MarketMinder's View: The prospect of significant legislative change makes investors skittish. This is one to keep an eye on.
Market Misperceptions
By , The Wall Street Journal, 10/01/2009
MarketMinder's View:
Fiscal stimulus is always clumsy and imperfect, but in times of economic crisis, it’s an effective means of reigniting economic activity.
Sensible Stories
By , The Wall Street Journal, 09/30/2009
MarketMinder's View: This surprisingly sensible report from the California governor’s bipartisan tax commission could be an essential step in the right direction for economic stability in the Golden State. Lowering taxes would not only make it a more business-friendly environment, but it would help keep high-wage earners (who in turn are higher tax contributors) from defecting to neighboring states.
Market Misperceptions
By , The Washington Post, 09/30/2009
MarketMinder's View:
Regret-shunning at its best—this is very normal at this stage in the market cycle. Wait a few years and people will turn on the overly bearish economists. 
 
Sensible Stories
By , CNBC, 09/30/2009
MarketMinder's View: “The real risk for investors right now is being in cash.” Exactly—for investors with long time horizons, cash may do more harm than good.
Sensible Stories
By , Reuters, 09/30/2009
MarketMinder's View: The Treasury’s public-private investment program—announced in March and recently scaled back in overall scope—is finally set to begin purchasing toxic assets. The program’s smaller size and implementation delays reflect less need for such programs, thanks to increased financial system stability.
Market Misperceptions
By , USA Today, 09/30/2009
MarketMinder's View:
Looking at consumer confidence surveys does about as much good as basing your outfit today on yesterday’s weather .
 
Sensible Stories
By , Bloomberg, 09/30/2009
MarketMinder's View: While the details remain unclear, it’s apparent Sarkozy is prepared to support government spending to boost the French economy.
Sensible Stories
By , Bloomberg.com, 09/30/2009
MarketMinder's View: We’ve said this time and again, less bad news is good.
Market Misperceptions
By , MSNBC, 09/30/2009
MarketMinder's View: Consumer confidence usually doesn’t improve until after the stock market and economy turn up. Such lagging economic indicators aren’t very useful to predict future stock returns.
Sensible Stories
By , The Wall Street Journal, 09/30/2009
MarketMinder's View: Just what the Golden State desperately needs—some pro-growth policies.
Market Misperceptions
By , The Wall Street Journal, 09/30/2009
MarketMinder's View:
A wildly pessimistic assessment of banks’ financial health. Rising asset prices, improving economic conditions globally, and reviving credit markets have banks on much more stable footing.
Market Misperceptions
By , Guardian, 09/30/2009
MarketMinder's View:
The new Japanese administration’s plan to withhold planned stimulus funds could weigh on Japan’s economic recovery, but it’s too soon to conclude volatile monthly economic readings are a result of stimulus withdrawal.
Sensible Stories
By , The Wall Street Journal, 09/30/2009
MarketMinder's View: Exposure to emerging market stocks may be more volatile as these nations continue to grow, but also presents a strong investing opportunity.
Market Misperceptions
By , Wall Street Journal, 09/30/2009
MarketMinder's View:
Economic data always seem fragile in the initial stages of recovery. That isn’t likely to inhibit stocks, which should continue to move higher well ahead of a complete economic recovery.
Market Misperceptions
By , The Wall Street Journal, 09/29/2009
MarketMinder's View:
Not surprising. Consumer confidence is usually one of the last indicators to turn around in a recovery.
Sensible Stories
By , The Washington Post, 09/29/2009
MarketMinder's View: Some positive signs investors continue regaining confidence and Wall Street is very much alive.
Sensible Stories
By , The Guardian, 09/29/2009
MarketMinder's View: This is backward looking and thus won’t have much impact on the markets, but it’s telling to see how this performance compares to the “Great Depression II” predictions at the beginning of the second quarter—always beware of overly apocalyptic forecasts.
Market Misperceptions
By , The Economic Times, 09/29/2009
MarketMinder's View:
This trade “imbalance” is about as dangerous as our ballooning imbalance of trade with our local grocery store.    
Sensible Stories
By , USA Today, 09/29/2009
MarketMinder's View: “Investors should ignore the investment chatter…it is distracting them from investment opportunities.” Well said.
Market Misperceptions
By , Seeking Alpha, 09/29/2009
MarketMinder's View:
“We can expect economic conditions to deteriorate until we face the prospect of a total collapse in the United States economy.” Perhaps a bit extreme, no? Ignore.
Market Misperceptions
By , SmartMoney, 09/29/2009
MarketMinder's View:
Last we checked, Jewish holidays weren’t an indicator of stock direction. Just another erroneous investing theory that doesn’t hold water. A good investing practice includes correlation and causation—without both, you have little but speculation.
Sensible Stories
By , The Wall Street Journal, 09/29/2009
MarketMinder's View: The French are unhappy with GDP, so it’s time to change economic statistics? We don’t think so—though imperfect, GDP is very likely to remain an important economic measure. How about focusing on more economic growth instead?
Sensible Stories
By , The Wall Street Journal, 09/29/2009
MarketMinder's View: We think all political parties from all countries should get this memo.
Market Misperceptions
By , The Washington Post, 09/29/2009
MarketMinder's View:
From an investing perspective, this is exactly wrong. Missing the initial stages of a new bull market is one of the worst mistakes long-term investors can make.
Market Misperceptions
By , CNBC, 09/29/2009
MarketMinder's View:
Recovery brings a better employment picture, not the other way around—this is the reason why noticeable improvement in the employment picture doesn’t come until well after the economy has rebounded.  
 
Sensible Stories
By , The New York Times, 09/29/2009
MarketMinder's View: More and more companies are embarking on merger deals, signaling the availability of resources and the recovery of capital markets since last year’s crisis.
Sensible Stories
By , Bloomberg, 09/29/2009
MarketMinder's View: “The Federal Deposit Insurance Corp. is asking lenders to prepay three years of premiums, raising $45 billion, to replenish reserves drained by the fastest pace of bank failures in 17 years.” No one can say for sure how this will turn out, but it’s worth keeping an eye on. For more, see our 09/03/2009 cover story, “FDIC Out of Cash?”
Market Misperceptions
By , Seeking Alpha, 09/29/2009
MarketMinder's View:
The short answer? No. With an unprecedented amount of monetary stimulus in the world, this over-the-longer-run inflation is a greater worry than deflation. But neither is a concern today—huge monetary and fiscal stimuli are appropriate until a wider economic recovery takes hold.
Market Misperceptions
By , The Wall Street Journal, 09/28/2009
MarketMinder's View: While there are good points in this article, we disagree “too big to fail” institutions prevented monetary policy from working. The financial system doesn’t exist solely to transmit monetary policy. Central bankers need to adapt to an evolving financial system, which they have done quite adeptly with the creation of many new monetary tools.
Sensible Stories
By , The New York Times, 09/28/2009
MarketMinder's View: Executive compensation didn’t cause the financial crisis. See our 08/06/2009 column, “Hoopla Over Pay,” for more.
Sensible Stories
By , SmartMoney, 09/28/2009
MarketMinder's View: Access to credit—cut off as credit markets froze last year—is resuming.
Sensible Stories
By , The Wall Street Journal, 09/28/2009
MarketMinder's View: Corporate earnings have exceeded exceptionally dour expectations. Q3 earnings have the added benefit of being evaluated against easier year-over-year comparisons.
Sensible Stories
By , The Washington Post, 09/28/2009
MarketMinder's View: Promoting “green energy” at the expense of how we get it now, is to move from efficient to inefficient and a world of higher prices. We’re not saying windmills and solar panels will never have their place but if you can’t make it economically viable without taxing conventional energy sources then you shouldn’t do it.
Sensible Stories
By , Financial Times, 09/28/2009
MarketMinder's View: “There are reasons to be optimistic on trade but the G20 is not among them.” – Absolutely.
Sensible Stories
By , New York Times, 09/28/2009
MarketMinder's View: China loosening capital controls and developing more robust capital markets are positives for the global economy.
Market Misperceptions
By , International Business Times, 09/28/2009
MarketMinder's View:
The dollar’s role in the global economy is safe for the foreseeable future. It’ll be decades before a viable alternative emerges, if at all. See our 09/21/2009 cover story, “A Perplexing Peg,” for more.
Market Misperceptions
By , Financial Times, 09/28/2009
MarketMinder's View:
How can we be in a bubble when so many are calling it thus? Yes, state intervention has helped of late but when the stimulus is removed we wouldn’t necessarily expect a crash.
Market Misperceptions
By , Barron’s, 09/28/2009
MarketMinder's View: This is an overly dour outlook on the world’s second-largest economy. Not to mention the fact Japan’s economy has struggled for years without hindering the global economy. See our 08/25/2009 cover story, “Sayonara, LDP?” for more.
Market Misperceptions
By , Bloomberg, 09/28/2009
MarketMinder's View: The G-20 may posture and plan as they wish, but history shows it’s highly unlikely much new policy will result. See our 09/25/2009 cover story, “Lofty Promises, Little Action,” for more.
Sensible Stories
By , Financial Times, 09/28/2009
MarketMinder's View: “It is critical that we take the opportunity of the crisis to promote innovation-enhancing financial regulation and not let this be eclipsed by superficially popular issues” – We couldn’t agree more.
Market Misperceptions
By , The New York Times, 09/25/2009
MarketMinder's View: There will be plenty of false signals in economic data, but the timing or clarity of the economic recovery often doesn’t match the size and speed of new bull markets. Those who wait for clarity will usually get left behind.
Sensible Stories
By , Bloomberg.com, 09/25/2009
MarketMinder's View: How do you say “more investment freedom is a good thing” in Portuguese?
Sensible Stories
By , The Wall Street Journal, 09/25/2009
MarketMinder's View: Fears of a premature government exit abound, but an appropriate withdrawal is far down the line as the recovery needs time to take hold. For more, see our 09/15/2009 cover story, “Separation Anxiety.”
Market Misperceptions
By , Seeking Alpha, 09/25/2009
MarketMinder's View: Naturally, market volatility instills uneasiness, but long term investors should remember the importance of tolerating a bumpy ride so as to capture the larger bull market.
Sensible Stories
By , The Wall Street Journal, 09/25/2009
MarketMinder's View: Government officials are mulling how to use remaining TARP funds and whether to extend the program at all—something to keep an eye on.
Sensible Stories
By , Smart Money, 09/25/2009
MarketMinder's View: “Investors should act on all the signs pointing to an economic recovery, especially since the market historically performs well in the first year of recovery.” Amen.
Market Misperceptions
By , bloomberg.com, 09/25/2009
MarketMinder's View:
When we disagree with seven other people and never get anything done, do you know how we usually resolve our differences? Add 12 more people.  Ironically for the leaders, this will probably mean less concrete action—a good thing for markets as it decreases the chances of governments doing harm.
 
Market Misperceptions
By , Time, 09/25/2009
MarketMinder's View: Entertaining? Maybe. Useful or practical? No.
Market Misperceptions
By , CNBC, 09/25/2009
MarketMinder's View: Expect more Armageddon-like headlines—sentiment typically remains worried or even morbid at the start of new bulls.
Market Misperceptions
By , Bloomberg, 09/24/2009
MarketMinder's View:
A popular concern and, in our view, unfounded. For more, see our 09/03/2009 cover story, “FDIC Out of Cash?”
Sensible Stories
By , The Motley Fool, 09/24/2009
MarketMinder's View: Moral of the story: A pessimistic outlook doesn’t just make life more dreary, it can also be bad for your portfolio!
Market Misperceptions
By , Time, 09/24/2009
MarketMinder's View:
While this is good news for job hunters, surprisingly, it’s not that meaningful for future market direction.  Recall—unemployment recovery typically lags economic recovery, which lags the market.
Sensible Stories
By , Financial Times, 09/24/2009
MarketMinder's View: We don’t agree with every suggestion here but in our opinion the less intervention with markets the better.
Sensible Stories
By , The Wall Street Journal, 09/24/2009
MarketMinder's View: Healthy competition among firms is the essence of capitalism and “these strategies encompass everything an enterprise does—including how it manages and pays its employees.” For more, see our 08/06/2009 column, “Hoopla Over Pay.”
Sensible Stories
By , Bloomberg, 09/24/2009
MarketMinder's View: A few short-term emergency programs established last year wrap up amid lack of ongoing demand—a positive sign the financial system continues on the road to recovery.
Sensible Stories
By , The Wall Street Journal, 09/24/2009
MarketMinder's View: A case study on the impact of taxation.
Sensible Stories
By , CNN Money, 09/24/2009
MarketMinder's View: As the path toward a global recovery continues, here’s a look at some of those countries who seem to be returning to growth.
Market Misperceptions
By , Financial Times, 09/24/2009
MarketMinder's View:
Has the market come too far too fast? Not if you look at other early-stage bull markets—the boom since March is normal. The steeper and faster the final fall, the steeper and faster the initial surge. For more, see our 05/12/2009 cover story, “Too Fast, Too Furious?”
Sensible Stories
By , The Wall Street Journal, 09/24/2009
MarketMinder's View: Blaming bankers is politically expedient. You wouldn’t expect the G20 members to conclude – ‘it’s our fault too’ – would you?
Market Misperceptions
By , cnbc.com , 09/24/2009
MarketMinder's View:
Stating the obvious, governments give with the left hand and take back with the right. Getting that money back was never really an option, but helping boost the recovery was.
 
Market Misperceptions
By , The Telegraph, 09/24/2009
MarketMinder's View:
Suggesting international trade is suffering as a result of new more subversive protectionism is wide of the mark. Thus far most countries have resisted the temptation to incorporate protectionist legislation and talk of it remains largely as a result of political grandstanding.
 
Sensible Stories
By , The Wall Street Journal, 09/23/2009
MarketMinder's View: Before we jump on the bandwagon bashing banker’s pay, let’s understand the role government intervention played. Suggesting further intervention will only bring more unintended consequences.
Market Misperceptions
By , Telegraph, 09/23/2009
MarketMinder's View:
How is it possible to make a serious forecast that takes in the next 6 years? You can do absolutely nothing useful with this supposed information apart from ignore it.
 
Market Misperceptions
By , Reuters, 09/23/2009
MarketMinder's View:
Young, burgeoning middle classes from developing nations want new homes, cars, and nice things, just like the rest of us. And they’ll happily participate in global commerce.
Sensible Stories
By , The Wall Street Journal, 09/23/2009
MarketMinder's View: “Outlaw pay and pay will only go to those outside the reach of the law—whether they move to a hedge fund in Greenwich, Conn., or to an investment banking firm in London.”
Sensible Stories
By , Associated Press, 09/23/2009
MarketMinder's View: It’s a good sign emerging economies like India recognize the need to eliminate trade barriers.
Sensible Stories
By , BusinessWeek, 09/23/2009
MarketMinder's View: Few concrete decisions or multinational agreements ever come from G-20 gatherings—this relative stasis is good news for markets.
Sensible Stories
By , Bloomberg, 09/23/2009
MarketMinder's View: The bull market continues its run up—and with capital markets stabilizing and global economies rebounding, there’s plenty of room to run.
Market Misperceptions
By , Market Talk, 09/23/2009
MarketMinder's View:
The market’s upward movement is more to do with the change in expectations than prospects for spectacular economic growth. Back in March almost no one was forecasting economic growth at any stage in 2009.
 
Sensible Stories
By , San Francisco Chronicle, 09/23/2009
MarketMinder's View: There’s no reason why the market shouldn’t continue to trend up from here too. The economy is picking up and there’s still a huge amount of money sitting on the sidelines in cash.
Market Misperceptions
By , TimesOnline , 09/23/2009
MarketMinder's View:
Whenever we read about Global or European supervisory bodies we become wary of the threat of further government intervention.
 
Sensible Stories
By , liveMint.com, 09/23/2009
MarketMinder's View: We’re not wild about all the suggestions here but this one is wonderful: “The open sea is the world’s biggest highway. So, declare unilateral free trade and let loose the forces of urbanization along our coasts.”
Sensible Stories
By , The Wall Street Journal, 09/23/2009
MarketMinder's View: It seems like just yesterday many were lamenting IOUs and fearing the demise of the Golden State—this week, investors are eager to grab a piece of its $8.8 billion debt offering.
Market Misperceptions
By , Bloomberg, 09/23/2009
MarketMinder's View:
The assumption the US budget deficit will tank the economy (and stock markets for that matter) is unfounded—even if high inflation becomes a factor down the road, a “Fall of Rome” or other similar doomsday scenarios are unlikely. For more, see our 03/18/2009 cover story, “Debt-ja Vu.”
Sensible Stories
By , SmartMoney, 09/23/2009
MarketMinder's View: With all the gloom that still abounds, here are some positives to ballast the dour tides.
Market Misperceptions
By , The Wall Street Journal, 09/23/2009
MarketMinder's View:
As the ultimate leading indicator, stocks move ahead of economic data. Therefore, the initial bounce from a bear’s trough is often steep and full of disbelievers—stocks move first, economic data second. For more, see our 08/13/2009 cover story, “Brainlessly Buoyant?”
Market Misperceptions
By , Bloomberg, 09/23/2009
MarketMinder's View: Many can be blamed for the financial crisis and how it was handled early last fall, but there’s no need to fault the Fed for an exit strategy that hasn’t yet been detailed or implemented. Said differently, there’s no reason to worry about new “bubbles” if recovery doesn’t take hold in the first place.
Market Misperceptions
By , The Washington Times, 09/22/2009
MarketMinder's View:
Simply, stocks historically have posted big gains in times of high budget deficits in developed countries. With interest rates near record lows, governments’ ability to service existing and new debt is far better than most realize.
Market Misperceptions
By , Barron’s , 09/22/2009
MarketMinder's View:
Past Septembers are no indication of the future. So far, this September’s been just fine. For more, see our 08/28/2009 cover story, “Stay in September.”
Sensible Stories
By , The New Republic, 09/22/2009
MarketMinder's View: “Stop overreacting to Obama’s China tire tariff.” Free trade today isn’t in mortal peril. For more, see our 09/16/2009 cover story, “Minor in the Key of Kerfuffle.”
Sensible Stories
By , The Street, 09/22/2009
MarketMinder's View: We’re in the initial stage of a new bull, yet few have recognized as much.
Sensible Stories
By , The Telegraph, 09/22/2009
MarketMinder's View: Any changes should be made to strengthen not paralyze financial services.
Sensible Stories
By , Real Clear Markets, 09/22/2009
MarketMinder's View: A cogent discussion on Wall Street pay curbs. For more, see our 08/06/2009 column, “Hoopla Over Pay.”
Market Misperceptions
By , MarketWatch, 09/22/2009
MarketMinder's View:
This misses the fact that stocks generally move ahead of backward-looking economic data. That is, economic data will usually seem weak as new bull markets begin. This is a typical way many investors miss bull market beginnings—usually the strongest and fastest part.
Sensible Stories
By , Bloomberg, 09/22/2009
MarketMinder's View: Indeed—much of the global fiscal stimulus has yet to take hold as the world’s economies move back toward prosperity.
Market Misperceptions
By , The Telegraph, 09/22/2009
MarketMinder's View:
Just because equities have risen in price does not mean the market is entering a bubble.
 
Sensible Stories
By , Forbes.com, 09/22/2009
MarketMinder's View: Government should be kept well away from trying to solve a problem that doesn’t exist.
Market Misperceptions
By , USA Today, 09/22/2009
MarketMinder's View:
Late-night junk food cravings as an economic indicator? We don’t think so. (Anyway, wouldn’t it make more sense to just refrain from mini-bar snacking altogether during bad economic times?)
Market Misperceptions
By , The Wall Street Journal, 09/21/2009
MarketMinder's View:
Nothing about a specific percentage rise or a specific index level is a recipe for a bear market. One only does themselves a disservice by focusing on such arbitrary statistics.
 
Market Misperceptions
By , Barron’s, 09/21/2009
MarketMinder's View:
It’s common for gold’s positives to be touted in times of market uncertainty—today is no exception. But historically, gold has rarely if ever beat inflation, making it a poor investment for long-term investors. 
Market Misperceptions
By , Real Clear Markets, 09/21/2009
MarketMinder's View:
Why? Commodities are volatile—just like stocks and anything else traded on a free market. Folks fear “speculation,” but speculation is just another word for trading. If you buy a security, you are speculating on future price direction—doesn’t mean you have ill intent.
Sensible Stories
By , The Wall Street Journal, 09/21/2009
MarketMinder's View: “The deeper the slump, the zippier the recovery.” We couldn’t agree more, and historical data supports this theory. See our 08/13/2009 cover story, “Brainlessly Buoyant?” for more.
Market Misperceptions
By , The New York Times, 09/21/2009
MarketMinder's View:
Price caps on anything—oil, groceries, and even salaries—only lead to market distortions and unintended, usually grossly negative, consequences. Attempts to curb salary compensation will only drive much-needed talent away to other sectors—not an ideal situation.
Market Misperceptions
By , Barron’s, 09/21/2009
MarketMinder's View:
So what if the Dow hits 10,000 or even 15,000? Such milestones are arbitrary, meaningless, and tell us nothing about future stock market movements. See our 07/24/2009 cover story, “Misleading Milestones,” for more.
Market Misperceptions
By , The Independent, 09/21/2009
MarketMinder's View:
The financial turmoil has been painful but is there any chance this headline overstates the damage done?
 
Sensible Stories
By , The Wall Street Journal, 09/21/2009
MarketMinder's View: A great way to stimulate job growth: Make the cost of doing business cheaper through tax cuts.
Market Misperceptions
By , The Wall Street Journal, 09/21/2009
MarketMinder's View:
Expect all this talk to be just that: Talk. These types of “global” meetings are famous for soaring rhetoric and far-reaching policy recommendations that are never implemented.
Sensible Stories
By , Pittsburgh Tribune, 09/21/2009
MarketMinder's View: Wise words on the dangers of central planning.
Sensible Stories
By , The New York Times, 09/21/2009
MarketMinder's View: A cogent argument about the dangers of protectionism.
Sensible Stories
By , Forbes, 09/21/2009
MarketMinder's View: We couldn’t agree more. Lowering taxes is creationary – jobs, economic growth, revenues.
Sensible Stories
By , The Telegraph , 09/21/2009
MarketMinder's View: Progress comes in small doses, and sometimes it comes in the form of less bad news.
Sensible Stories
By , BBC News, 09/18/2009
MarketMinder's View: The world’s second-largest economy continues to show signs of improvement.
Market Misperceptions
By , The New York Times, 09/18/2009
MarketMinder's View: The dollar’s role as the world’s reserve currency isn’t to blame for the financial crisis. The size and diversity of our economy and the depth and liquidity of our capital markets are good reasons for the dollar’s prominent role in the global economy.
Market Misperceptions
By , Real Clear Markets, 09/18/2009
MarketMinder's View: It’s important to be mindful of looming protectionism, but such measures so far have been very minor. Today, countries worldwide recognize the many benefits of free trade. For more, see our 09/16/2009 cover story, “Minor in the Key of Kerfuffle.”
Market Misperceptions
By , The Wall Street Journal, 09/18/2009
MarketMinder's View:
Banning flash trades won’t have much effect on the market. The fervor over flash trades has been overblown all along. For more, see our 08/06/2009 cover story, “Attack of the Machines!”
Market Misperceptions
By , The Wall Street Journal, 09/18/2009
MarketMinder's View: As we’ve said, curbs on compensation are likely to do more harm than good by driving away talented individuals. For more, see our 08/06/2009 column, “Hoopla Over Pay.”
Sensible Stories
By , CNBC, 09/18/2009
MarketMinder's View: Who’s scared of a little old witch? Increased volatility is typical in witching hour, but long-term investors needn’t be concerned with such movements. For more, see our 06/22/2009 cover story, “Witching Hour.”
Sensible Stories
By , The Wall Street Journal, 09/18/2009
MarketMinder's View: Most headlines say the consumer is dead but in reality, household wealth is increasing.
Sensible Stories
By , National Post, 09/18/2009
MarketMinder's View: “As market dynamics stimulate economic activity, you can bet that the politicians meeting in Pittsburgh for the G20 will be simultaneously decrying the market's madness and taking credit for the economic recovery the market is delivering.” Right on the money.
Sensible Stories
By , Reuters, 09/18/2009
MarketMinder's View: Emergency government programs enacted last year are being dismantled as the financial system gains solid footing—bullish news.
Sensible Stories
By , Seeking Alpha, 09/18/2009
MarketMinder's View: Rampant skepticism about this market upturn suggests stocks have much further to run. We’d be far more concerned if investors were overly euphoric. A glance at daily headlines about next shoes to drop, a sucker’s rally, and a host of other concerns show euphoric sentiment is a long way off.
Market Misperceptions
By , Telegraph, 09/18/2009
MarketMinder's View:
If budget deficits signalled future market weakness, maybe you could worry, but returns tend to be quite strong following periods of big budget deficits.
 
Market Misperceptions
By , MarketWatch, 09/17/2009
MarketMinder's View:
As we’ve said, the Dow is a poorly constructed index. And why is 10,000 a worrisome level? Why not 9,831or 10,253? For more, see our 07/24/2009 cover story, “Meaningless Milestones.”
Sensible Stories
By , Bloomberg, 09/17/2009
MarketMinder's View: The dollar will be strong at times and weak at others. But there’s no reason to fear a permanently weak greenback.
Market Misperceptions
By , Seeking Alpha, 09/17/2009
MarketMinder's View:
Wrong, wrong, and wrong. Not only are these concerns well-known to investors, they aren’t at all unusual during a recession.
Sensible Stories
By , Los Angeles Times, 09/17/2009
MarketMinder's View: Investors are understandably thrilled and nervous about the run-up in stock prices. Stocks are inherently volatile, which can be unsettling to some. Historically, accepting this volatility has paid off in strong long-term returns. Like all bull markets, this market will have pullbacks along the way, but that’s no reason to fear another steep downturn.
Sensible Stories
By , The Wall Street Journal, 09/17/2009
MarketMinder's View: Cross-border investment, hampered by the financial panic, is set to rise again—a positive.
Market Misperceptions
By , Seeking Alpha, 09/17/2009
MarketMinder's View:
Goldbugs tout the yellow metal as the cure to many economic and investing ills. In reality, gold has made a lousy long-term investment. For more, see our 09/10/2009 cover story “The Bling Fling.”
Sensible Stories
By , Reuters, 09/17/2009
MarketMinder's View: Just one example of the better than expected growth that we anticipate to see.
Market Misperceptions
By , The Financial Times, 09/17/2009
MarketMinder's View:
If you think logically about this, global trade is always perfectly balanced. For any single country’s deficit there is a corresponding surplus. Don’t fret over “imbalances.”
 
Market Misperceptions
By , The Guardian, 09/17/2009
MarketMinder's View:
Let’s have some perspective, there will be no double digit inflation and winter of discontent this year in Britain. Speaking of winter though, you should be able to enjoy some mulled wine and five too many mince pies as you watch the market climb the wall of worry.
 
Sensible Stories
By , International Business Times, 09/17/2009
MarketMinder's View: Global stimulus effort should continue for some time, benefitting the global economy and helping boost stock prices.
Market Misperceptions
By , The Wall Street Journal, 09/17/2009
MarketMinder's View:
Yes, the private sector deserves a lot of credit for the economic improvement we’ve seen so far, but so does the massive wave of fiscal and monetary stimulus. It’s way too early to evaluate the full impact of the stimulus program, but the initial signs are encouraging.
Sensible Stories
By , The Telegraph, 09/16/2009
MarketMinder's View: The same could be said of any country in the world. Lower taxes attract more talent, create more jobs and increase productivity.
Market Misperceptions
By , The Wall Street Journal, 09/16/2009
MarketMinder's View:
Does it matter if the price of an ounce of gold is on par with the price of a “high-quality” men’s suit? Not really. Gold is a commodity—its price is driven by supply and demand imbalances. For more, see our 09/10/2009 cover story, “The Bling Fling.”
Market Misperceptions
By , BusinessWeek, 09/16/2009
MarketMinder's View:
Banks, like any other business do fail. More bank failures, just like the many we’ve seen already in 2009, don’t spell disaster for the stock market.
 
Market Misperceptions
By , CNN Money, 09/16/2009
MarketMinder's View:
This arbitrary cap has nothing to do with America’s ability to pay its debts. With debt extremely cheap right now, and more than enough demand, there’s little worry the US won’t be able to afford its debt.
Market Misperceptions
By , Times Online, 09/16/2009
MarketMinder's View:
14 years ago was 1995---let’s hope the next 5 years of market returns looks as good as 1995-2000.
Market Misperceptions
By , The Wall Street Journal, 09/16/2009
MarketMinder's View:
Sure, farming is nice. But we doubt most investors would be satisfied with the idea of measuring growth by “the slow ripening of a tomato.”
Sensible Stories
By , The Washington Post, 09/16/2009
MarketMinder's View: “New data released Tuesday provided evidence that the economy was turning around, showing that Americans returned to stores in August and increased their spending at the highest rate in three years.” Precisely dating the recovery isn’t vital, but stocks have certainly been telling us since March they believe recovery is in the fore.
Sensible Stories
By , Financial Times, 09/16/2009
MarketMinder's View: Remember when we said you should expect to see the market move long before the economy begins to pick up?
Market Misperceptions
By , MSN Money, 09/16/2009
MarketMinder's View:
Try as politicians might, no matter how much regulation they throw at any sector, a meltdown can always happen again. That’s the nature of free markets. And too onerous regulation can cause unintended negative consequences that can exacerbate and speed disruptions. We’d welcome streamling of regulatory bodies, but it’s wrong to assume we can regulate away volatility.
Sensible Stories
By , The Wall Street Journal, 09/16/2009
MarketMinder's View: The US stock rally has garnered much attention lately, but it’s important global investors note the US is not alone—Asian stocks reached 2009 highs this week.
Market Misperceptions
By , The New York Times, 09/16/2009
MarketMinder's View:
Unemployment will likely increase or plateau until the global recovery gathers speed. This is typical of any recession—growth will eventually lead to more hiring, not the reverse. 
Sensible Stories
By , The Wall Street Journal, 09/16/2009
MarketMinder's View: Demand for US debt, from both foreign and domestic sources, remains high—concerns to the contrary are unfounded.
Sensible Stories
By , Bloomberg, 09/16/2009
MarketMinder's View: Inflation remains in check thus far.
Market Misperceptions
By , Barron’s, 09/15/2009
MarketMinder's View:
Consumers are in much better shape than doom-and-gloom articles like this suggests. For more, see our 08/17/2009 cover story, “The Report of the Consumer’s Death Is an Exaggeration.”
Sensible Stories
By , Taiwan News , 09/15/2009
MarketMinder's View: Economies worldwide are transitioning from contraction to growth. The now six-month global stock rally shows investors foresaw this outcome well before it showed up in backward-looking economic data.
Market Misperceptions
By , Investor’s Business Daily, 09/15/2009
MarketMinder's View:
Tariffs and other trade restrictions have the potential to harm the US and global economies, so they warrant close monitoring. Fortunately, this relatively minor tariff likely isn’t a first step down the path to significantly increased protectionism.
Sensible Stories
By , Cato@Liberty, 09/15/2009
MarketMinder's View: This is completely illogical—to re-invigorate the private sector you want an increase in the incentive to grow, not a reduction.
Sensible Stories
By , Los Angeles Times, 09/15/2009
MarketMinder's View: “Stop with the Great Depression comparisons, already!” Amen.
Sensible Stories
By , TimesOnline, 09/15/2009
MarketMinder's View: The absolute numbers are still well below pre-crisis levels but these are the types of positive news stories that are generally ignored today.
Sensible Stories
By , Bloomberg, 09/15/2009
MarketMinder's View: The fact Citigroup, believed by many to be on the brink of collapse earlier this year, already sees TARP repayment on the horizon shows how far the financial system has come in a relatively short amount of time. For more, see our 09/11/2009 cover story “One Year Later.”
Market Misperceptions
By , Barron’s , 09/15/2009
MarketMinder's View:
Expect increased volatility around month-end options and futures expiration. For more, see our 06/22/2009 cover story, “Witching Hour.”
Market Misperceptions
By , TimesOnline, 09/15/2009
MarketMinder's View:
As the great John Templeton would say, “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.” This article is to be expected as we’re in the early stages of the skeptical phase—expect more reports like this in the months ahead. 
 
Market Misperceptions
By , The Washington Post, 09/15/2009
MarketMinder's View: Imposing compensation limits on Wall Street executives isn’t a panacea for financial regulatory reform. In fact, imposing strict limits will likely drive away the type of top talent the industry needs. For more, see our 08/06/2009 column, “Hoopla Over Pay.”
Sensible Stories
By , Associated Press, 09/15/2009
MarketMinder's View: It’s likely the “official” end to the recession won’t be declared for awhile, but the official end date is meaningless for stocks. Investors have been cheering the eventual end of the recession for some time now.
Sensible Stories
By , The Wall Street Journal, 09/14/2009
MarketMinder's View: Generally, we prefer the government not meddle with business—it leads to negative, unintended consequences—and its inconsistency in dealing with Financials firms last year only exacerbated the situation.
Market Misperceptions
By , The Guardian, 09/14/2009
MarketMinder's View:
Firstly this assumes there is both a need and a desire to “stop” so called climate change, the evidence is shaky at best. Secondly, the economies of the world have consistently grown over time, why would they stop now?
 
Market Misperceptions
By , MSNBC, 09/14/2009
MarketMinder's View: Expect to see more stories like this. Folks typically “feel” like the economy is still sour, even after recovery is underway.
Sensible Stories
By , Smart Money, 09/14/2009
MarketMinder's View: Today’s increase in M&A activity is bullish
Market Misperceptions
By , Bloomberg, 09/14/2009
MarketMinder's View: We agree the government spends money much more stupidly than you would. But after they spend it, it gets passed to corporations, individuals, and sometimes other governments (state and local), and those entities spend again, and again, and again, less stupidly. So while it would be better if the first spend weren’t so stupid, it does benefit the economy after all.
Sensible Stories
By , BusinessWeek, 09/14/2009
MarketMinder's View: Protectionist saber-rattling is typical as recessions end. But it’s usually more bark than bite as nations know free trade is more beneficial.
Sensible Stories
By , The New York Times, 09/14/2009
MarketMinder's View: Markets function best when free of political influences.
Market Misperceptions
By , The New York Times, 09/14/2009
MarketMinder's View: It’s just wrong that “the lion’s share” goes to whomever trades on a valuable new piece of information first. If you’ve got such a short-term time horizon that a few seconds make a difference, perhaps stocks aren’t the best asset class for you.
Sensible Stories
By , The Wall Street Journal, 09/14/2009
MarketMinder's View: Think about the long term now and make sure that we implement the lessons of the last year.
Sensible Stories
By , Financial Planning, 09/11/2009
MarketMinder's View: Happy one year anniversary, TARP! TARP has been controversial, and has flaws. But overall efforts to stabilize the financial system have paid dividends. For more, see today’s cover story, “One Year Later.”
Sensible Stories
By , Financial Times, 09/11/2009
MarketMinder's View: Economic recovery is taking place around the world.
Market Misperceptions
By , The Washington Post, 09/11/2009
MarketMinder's View:
It’s impossible to tax, regulate, or otherwise coax people into being a certain type of investor. Efforts to do so will likely do more harm than good.
Market Misperceptions
By , Daily Finance, 09/11/2009
MarketMinder's View:
Consumers are much more resilient than most people believe. For more, see our 08/17/2009 cover story, “The Report of the Consumer’s Death Is an Exaggeration.”
Sensible Stories
By , The Wall Street Journal, 09/11/2009
MarketMinder's View: Our capitalist tendencies are at the heart of how the horse became the car and carrier pigeon became the internet. Let’s not let some financial turmoil hamper the pace of positive change.
Sensible Stories
By , The Wall Street Journal, 09/11/2009
MarketMinder's View: Fears of foreign investors abandoning US debt are unwarranted.
Sensible Stories
By , Bloomberg, 09/11/2009
MarketMinder's View: China’s economic growth is accelerating again. With lending easing and production increasing, China is likely to lead the global economy down the path of renewed expansion.
Sensible Stories
By , Smart Money, 09/11/2009
MarketMinder's View: Any type of recovery seemed impossible to many just months ago. Today, the same folks are contemplating the recovery’s shape, speed, magnitude, etc. This shift in sentiment bodes well for stocks. For more, see today’s cover story “One Year Later.”
Market Misperceptions
By , The Telegraph, 09/11/2009
MarketMinder's View:
As we always say, new information moves markets, not the same old concerns of yesteryear.
 
Market Misperceptions
By , The New York Times, 09/11/2009
MarketMinder's View:
This article gets it wrong. Fair value accounting made banks’ balance sheets appear more “toxic” than they actually were. Amending the application of those flawed rules is a positive, not a “race to the bottom.”
Market Misperceptions
By , Financial Times, 09/11/2009
MarketMinder's View:
Follow the logic here, to help free trade, the government should slap charges on imported goods to raise the prices for consumers. How is that “free”?
 
Market Misperceptions
By , Bloomberg, 09/11/2009
MarketMinder's View:
Utilizing fair value accounting makes perfect sense for many but not all investments. Establishing accounting rules capable of dealing with different investment types makes sense.
Market Misperceptions
By , cnbc.com, 09/10/2009
MarketMinder's View:
Employment is a lagging indicator, so don’t expect the jobless outlook to be bright until well after the recession ends.
 
Sensible Stories
By , The Wall Street Journal, 09/10/2009
MarketMinder's View: Don’t let this tricky headline fool you, this is positive. Banks are stabilizing and able to stand on their own two feet! Besides, this was always meant to be a short-term program—it had to end sometime.
Market Misperceptions
By , Bloomberg, 09/10/2009
MarketMinder's View:
This is hardly threatening. In fact, rising imports and exports show global economic activity is picking up. For more, see our 09/04/2009 column, “Trade Winds.”
Sensible Stories
By , The Wall Street Journal, 09/10/2009
MarketMinder's View: The hype surrounding flash trades is overblown. High frequency trading can actually help average investors. For more, see our 08/06/2009 cover story, “Attack of the Machines!”
Sensible Stories
By , Time, 09/10/2009
MarketMinder's View: A move away from the greenback as the world’s reserve currency would take decades, and there are many, many good reasons for the dollar’s status to remain intact. For more, see our 06/03/2009 cover story, “Reserved Panda-monium.”
Sensible Stories
By , The New York Times, 09/10/2009
MarketMinder's View: Something to cheer about—a positive sign of the re-emerging strength of the US economy and financial system.
Market Misperceptions
By , USA Today, 09/10/2009
MarketMinder's View:
Programs of this magnitude and complexity take time to implement, so while this may feel slow to some, progress is, in fact, being made.
Market Misperceptions
By , Time, 09/10/2009
MarketMinder's View:
The pace of job losses has been quick, but that’s not surprising given how fast last year’s financial panic evolved. And it’s no reason to think employment will take longer to improve. On the contrary, aggressive job cuts could mean aggressive hiring as the economy improves.
Sensible Stories
By , The Times, 09/10/2009
MarketMinder's View: Great job dispelling myths of investing in gold. See our own commentary ”The Bling Fling” for our thoughts on gold.
Market Misperceptions
By , Minyanville, 09/10/2009
MarketMinder's View:
The notion money managers leave for the summer and turn their portfolios over to interns is ridiculous. Ever heard of computers, e-mail, and cell phones? They have those things even in high-priced vacation destinations. Don’t expect a sea change in sentiment just because summer is over.
Sensible Stories
By , The Wall Street Journal, 09/10/2009
MarketMinder's View: Unnecessary bureaucracy is a tax on innovation and growth whether your business is large or small.
Market Misperceptions
By , MarketWatch, 09/10/2009
MarketMinder's View:
Some baby boomers are retiring, but others are just coming into their prime earning years. And most will need their investments to work for them for a long time, so their appetite for stocks should persist.
Market Misperceptions
By , Real Clear Markets, 09/10/2009
MarketMinder's View:
The US has run a trade deficit for years and it’s never prevented recovery from recession before. Would a trade surplus be any better? Not necessarily, ask Japan about the last 10 years.
 
Sensible Stories
By , Reuters, 09/10/2009
MarketMinder's View: The wall of global fiscal and monetary stimulus continues as China makes its way toward economic recovery. For more, see our 07/17/2009 cover story, “The Year of the Ox.”
Sensible Stories
By , The Telegraph, 09/09/2009
MarketMinder's View: A return to growth is of course a good thing, but the equity market growth since March in the UK is a prime example of why waiting to see some good economic news (now) almost always guarantees that you’ll miss out on returns. Equities are forward looking while economic statistics are almost always backward-looking.
Market Misperceptions
By , Financial Times, 09/09/2009
MarketMinder's View:
Since international criminal courts regularly involve international disputes, bickering and procrastination, how would a financial court be any different? With that said, if you’re an event planner in either of Davos, Jackson Hole or Aspen, you would naturally support this.
 
Market Misperceptions
By , The Washington Post, 09/09/2009
MarketMinder's View:
Economic recoveries are usually founded on leaner and more productive companies, which in turn become more profitable, which then begin hiring and growing again, which then allows consumer spending to recover—not the other way around.
Market Misperceptions
By , The Wall Street Journal, 09/09/2009
MarketMinder's View:
We agree investors are often too short-term focused, but good golly, regulating what “focus” investors and executives should have? We don’t think so.
Sensible Stories
By , Bloomberg, 09/09/2009
MarketMinder's View: With the release of its beige book report, the Fed confirmed the economy is improving—something stocks have been reflecting for months now.
Sensible Stories
By , Financial Times, 09/09/2009
MarketMinder's View: Arguing about this is almost meaningless as it’s unlikely any government is going to go back on some of the stimulus packages already passed. However, the good part of this is the only reason for this debate is the global economy is beginning to show signs of improvement—something equities have been discounting.
Sensible Stories
By , The Wall Street Journal, 09/09/2009
MarketMinder's View: Inflation remains a risk for the future, not the here and now. The Fed and other central banks will have an opportunity to deal with it when the time comes, but for now making liquidity plentiful and available is key.
Sensible Stories
By , Reuters, 09/09/2009
MarketMinder's View: Cap-and-trade and healthcare reform are both likely destined to become shadows of their current selves—if they pass at all. Politics aside, status quo tends to be a good thing for stocks. This quagmire is bullish.
Sensible Stories
By , The Wall Street Journal, 09/09/2009
MarketMinder's View: Some might see the lack of big new financial regulation as a bad thing—we see the lack of any knee-jerk increase in regulation (a la Sarbanes-Oxley) as a good thing.
Market Misperceptions
By , Time, 09/09/2009
MarketMinder's View:
Budget deficits for developed countries matter less for stocks than many believe. In fact, historically, markets tend to see big gains in the face of rising deficits.
Market Misperceptions
By , Portfolio.com, 09/09/2009
MarketMinder's View:
Higher taxes aren’t the answer to rein in “risky” bankers. When you tax something, you tend to get less of it. So, taxing bankers more will mean less banking. Not a great strategy to get an ailing economy going.
Market Misperceptions
By , CNN Money, 09/09/2009
MarketMinder's View:
Fears over the dollar’s role as the global reserve currency are unfounded, and stock investors shouldn’t buy into the hype. For more, see today’s cover story, “Of Mop-Tops and Monetary Union.”
Sensible Stories
By , Financial Times, 09/08/2009
MarketMinder's View: As the economy picks up, more and more firms will start hiring again. We don’t recommend waiting until then to get invested though, you’ll have missed the boat.
Market Misperceptions
By , cnbc.com, 09/08/2009
MarketMinder's View:
Are the markets too optimistic now, or were they just way too pessimistic six months ago?
 
Sensible Stories
By , Bloomberg, 09/08/2009
MarketMinder's View: Hooray for gridlock! An overload of government legislation typically causes more harm than good.
Sensible Stories
By , Adam Smith Institute, 09/08/2009
MarketMinder's View: When times are tough, we all too often fail to put things in proper perspective
Market Misperceptions
By , CNN Money, 09/08/2009
MarketMinder's View:
Unemployment is usually one of the last things to turn around in a recession and will continue to rise until it doesn’t—the recession is easing. Growth begets jobs, not the other way around.
Sensible Stories
By , Bloomberg, 09/08/2009
MarketMinder's View: Proof economic recovery happens before unemployment recovers.
Sensible Stories
By , Portfolio.com, 09/08/2009
MarketMinder's View: A resurgence in mergers and acquisitions tells us firms are feeling more confident and credit markets are easing.
Market Misperceptions
By , Bloomberg, 09/08/2009
MarketMinder's View:
We suppose this is being driven by the runaway success of the “amero.”
Sensible Stories
By , Reuters, 09/08/2009
MarketMinder's View: While it’s hard to know exactly what new regulation will be (if any actually passes—and it could take some time), it’s likely that in the near- to mid-term we see some shake-ups in which B players suddenly find they’re now A-status. For more, see our 08/12/2009 cover story, “Sickness or Health.”
Market Misperceptions
By , MSNBC, 09/08/2009
MarketMinder's View:
Expect to see lots of stories like this one. The onset of a new bull market is always volatile—pullbacks are normal, not a sign of the bear’s return.
Market Misperceptions
By , SmartMoney, 09/08/2009
MarketMinder's View:
This mixes up market and economic growth. Economic growth can be sluggish, but what matters for stocks is relative expectations. Thus far, stocks have been pleasantly surprised by a less-bad-than-expected economy since March.
Market Misperceptions
By , The Telegraph, 09/08/2009
MarketMinder's View:
No currency system developed has proved to be perfect but returning to a centrally planned arrangement is a backward step.
 
Market Misperceptions
By , Time , 09/07/2009
MarketMinder's View:
It’s a dangerous game to play suggesting this recession is fundamentally different to all others.
 
Market Misperceptions
By , cnbc.com, 09/07/2009
MarketMinder's View:
It’s very unlikely one week of market movements will tell us much about where they head next. Pull backs are normal in any bull market but just because we’ve seen a strong 6 months doesn’t mean the bull is over.
 
Sensible Stories
By , Times Online, 09/07/2009
MarketMinder's View: Attempting to limit bankers pay stems more from a thirst for blood than a desire for sound economic policy. It didn’t work before, there’s nothing to suggest the impact would be any different this time.
Sensible Stories
By , The Times, 09/07/2009
MarketMinder's View: As we said in today's commentary, “Things need to get ‘less bad’ first and, from an investor’s standpoint, less bad is good.” Don’t expect things to turn from bad to great overnight.
Market Misperceptions
By , Barron’s, 09/04/2009
MarketMinder's View:
Market volatility is normal. Trying to time short-term swings that may or may not happen can be costly and fraught with peril. Plus, there’s nothing fundamentally wrong with September or October dictating that stocks must fall. For more, see our 08/28/2009 cover story, “Stay in September.”
Market Misperceptions
By , MSN Money, 09/04/2009
MarketMinder's View:
Could the economy U- or double-bottom? Sure. But don’t confuse economic recovery for stock recovery—stocks can surge even on sluggish economic growth. For more, read our 08/20/2009 cover story, “Alphabet Soup Recovery.”
Market Misperceptions
By , New York Times, 09/04/2009
MarketMinder's View:
Raising taxes is exactly the wrong medicine for the economy as it would only decrease the incentive to work, invest, and take risks. We need more of these incentives, not less.
Sensible Stories
By , International Business Times, 09/04/2009
MarketMinder's View: Worries over a premature government exit from recent stimulus are unfounded. The near- coordinated wall of fiscal and monetary stimulus seems set to continue.
Market Misperceptions
By , The Street, 09/04/2009
MarketMinder's View:
The four most dangerous words in investing . . .
Sensible Stories
By , The Wall Street Journal, 09/04/2009
MarketMinder's View: An example of what not to do.
Sensible Stories
By , The Times, 09/04/2009
MarketMinder's View: A good example of the inconsistencies of these supposed expert forecasts and why you should ignore most of them—equities have already begun discounting the fact that the economy will be better than many expect.
Sensible Stories
By , The Wall Street Journal, 09/04/2009
MarketMinder's View: A good example of exactly why government shouldn’t be in the business of “doing business.”
Market Misperceptions
By , The Wall Street Journal, 09/04/2009
MarketMinder's View:
Pretty much every recovery is “jobless”—until it isn’t anymore. Unemployment typically keeps rising even after economic recovery is underway. Growth begets jobs, not the other way around.
Market Misperceptions
By , MSN Money, 09/04/2009
MarketMinder's View:
Some very wrong notions in here. To start, trading on insider information is, in fact, illegal, particularly if you yourself are an insider. Insider trading tells you nothing. Second, P/Es aren’t predictive of future stock returns. Finally, new bull markets are steep and fast. That’s not a sign of trouble, that’s a sign of a normal, new bull.
Sensible Stories
By , The Wall Street Journal, 09/04/2009
MarketMinder's View: While this is a positive sign, it’s important to note consumer spending didn’t fall as much as many thought during the recession. For more, see our 08/17/2009 cover story, “The Report of the Consumer’s Death Is an Exaggeration.”
Sensible Stories
By , Bloomberg, 09/03/2009
MarketMinder's View: The global economy is in recovery mode, as foreshadowed by stocks’ big gains beginning months ago. This will continue.
Market Misperceptions
By , Barron’s, 09/03/2009
MarketMinder's View:
New bull markets are typified by volatility—it’s never a straight line up.
Market Misperceptions
By , The Wall Street Journal , 09/03/2009
MarketMinder's View:
Articles promoting bonds always appear after periods of stock market weakness but over time equities have been the best performing asset class—we don’t see this changing.
Sensible Stories
By , Times Online, 09/03/2009
MarketMinder's View: An international tax on financial services is precisely the sort of backlash regulation of which we’re wary.
Market Misperceptions
By , The Wall Street Journal, 09/03/2009
MarketMinder's View:
Trying to force results by withholding performance pay isn’t a good tactic and will likely result in driving away talented individuals to other industries or even countries.
Sensible Stories
By , Financial Times, 09/03/2009
MarketMinder's View: File this in the “less bad is good” category. Unemployment is always a lagging indicator so don’t expect it to drastically improve until well after the economy turns.
Market Misperceptions
By , The Telegraph, 09/03/2009
MarketMinder's View:
We see it oppositely—world economies have mostly averted hugely burdensome new regulation and now are in recovery mode.
Sensible Stories
By , Business Week, 09/03/2009
MarketMinder's View: Companies are starting to spend again—a very positive sign for global recovery.
Sensible Stories
By , The Wall Street Journal, 09/03/2009
MarketMinder's View: Political expediency and sound economics rarely make good dance partners.
Sensible Stories
By , Smart Money, 09/03/2009
MarketMinder's View: “Prices rise and fall based on supply and demand, regardless of whether politicians ban futures trading.” Limiting liquidity and sources of price discovery often have negative unintended consequences.
Sensible Stories
By , The Wall Street Journal, 09/02/2009
MarketMinder's View: The economy is feeling the positive impact of fiscal and monetary stimulus.
Sensible Stories
By , Kiplinger’s, 09/02/2009
MarketMinder's View: “Widespread pessimism is actually a bullish sign. It means other investors are wary of stocks. Indeed, $3.6 trillion is currently parked in money-market mutual funds—even though they yield virtually nothing. That's a lot of fuel to lift the market higher.” Yes. Opportunities abound in a new bull market.
Market Misperceptions
By , Fortune, 09/02/2009
MarketMinder's View: The investing environment is constantly changing, but consumers, markets, and investors aren’t fundamentally different than in the past. Assuming “it’s different this time” can lead to poor investment decisions. See our 8/17/2009 cover story, “The Report of the Consumer’s Death Is an Exaggeration,” for more.
Sensible Stories
By , Bloomberg, 09/02/2009
MarketMinder's View: Yet another sign our nation’s banking system is quickly regaining its footing.
Market Misperceptions
By , Real Clear Markets, 09/02/2009
MarketMinder's View:
Bank failures of all sizes are a normal part of a recession, and their struggles are well known to investors. Banks are in better shape now than many forecast just months ago as factors such as FDIC insurance, Fed liquidity facilities, and a steep yield curve have helped stabilize the industry.
Sensible Stories
By , The Wall Street Journal, 09/02/2009
MarketMinder's View: Unfortunately, many investors veer from their long-term investing strategies after big stock market drops. This can be a serious impediment to reaching their investing goals.
Market Misperceptions
By , Bloomberg, 09/02/2009
MarketMinder's View:
Government intervention in compensation—and company culture for that matter—is likely to send employees running to those companies (or countries) that are free to pay them competitively.
Sensible Stories
By , The Wall Street Journal, 09/02/2009
MarketMinder's View: Turns out passing major legislation isn’t as easy as some lawmakers believed. And don’t expect things to get easier as mid-term congressional elections approach and the popularity of major initiatives wanes. Stocks should benefit as investors cheer the status quo.
Sensible Stories
By , The Wall Street Journal, 09/02/2009
MarketMinder's View: Global economic conditions are improving. August manufacturing activity was up in the US, China, and France, among others.
Market Misperceptions
By , Barron’s, 09/02/2009
MarketMinder's View:
Investing based on seasonal trends often leads to futile attempts to time the market. Investors are better served focusing on long-term goals and keeping their eye on the prospects for this new bull market going forward. For more, see our 8/28/2009 cover story, “Stay in September.”
Sensible Stories
By , The Wall Street Journal, 09/01/2009
MarketMinder's View: Putting today’s economic predicament into perspective.
Market Misperceptions
By , Daily Finance, 09/01/2009
MarketMinder's View:
This fear is already widely reflected in real estate related securities and capital markets generally. That is, it’s very well-priced in by now. Ignore.
Market Misperceptions
By , MarketWatch, 09/01/2009
MarketMinder's View:
Volatility is always a factor no matter the month or season.
Market Misperceptions
By , The Wall Street Journal, 09/01/2009
MarketMinder's View:
“But the swiftness and magnitude of this bounce-back aren't reasons to be cheerful; they are reasons to be cautious.” We would disagree. Historically, bounces come steep and fast off a bear bottom, leaving the “cautious” behind.
Sensible Stories
By , Seeking Alpha, 09/01/2009
MarketMinder's View: “The onset of any correction in markets will be generally taken as a tactical opportunity to enter or reinforce investors’ participation in what should prove a sustainable, if irregular, up move whose potential can deliver one of the most remarkable rides in post war history.” Amen--investors would be crazy to sit this one out.
Market Misperceptions
By , The Wall Street Journal, 09/01/2009
MarketMinder's View:
Politics always play a role, but trade between the US and China—and world trade generally—is on the rebound.
Sensible Stories
By , Reuters, 09/01/2009
MarketMinder's View: BofA is just another of many banks who are repaying bailout funds—a bullish signal for capital markets in recovery.
Sensible Stories
By , International Business Times, 08/31/2009
MarketMinder's View: Let’s at least get a substantial portion of last year’s $787 billion stimulus package spent before calling for more. See our 07/08/2009 cover story, “A Confused Chorus,” for more.
Sensible Stories
By , DailyFinance, 08/31/2009
MarketMinder's View: The tremendous return on TARP funds might slow a bit since the strongest firms repaid the government first, but it’s clear TARP isn’t the black hole skeptics initially feared.
Sensible Stories
By , The Times, 08/31/2009
MarketMinder's View: A V for the global economy would be nice, but stocks can continue their upward climb no matter the shape of the economic recovery. See our 08/20/2009 cover story, “Alphabet Soup Recovery,” for more.
Sensible Stories
By , The New York Times, 08/31/2009
MarketMinder's View: An interesting look at the role of human behavior in the stock market and economy.
Market Misperceptions
By , Time, 08/31/2009
MarketMinder's View:
Few things are as well known to investors as the calendar, so investing based on the time of year doesn’t provide much advantage. See our 08/28/2009 cover story, “Stay in September,” for more.
Sensible Stories
By , The New York Times, 08/31/2009
MarketMinder's View: Evidence government-mandated restrictions often hurt more than they help.
Market Misperceptions
By , The Washington Post, 08/31/2009
MarketMinder's View: Fiscal stimulus to combat the economic downturn has pushed the deficit exceptionally high, but it’s a mistake to extrapolate the current deficit too far into the future. See our 08/27/2009 cover story, “CB-Uh-Oh?” for more.  
Market Misperceptions
By , The Washington Post, 08/31/2009
MarketMinder's View:
Ever hear of the “underwear index”? Neither have we. Ignore. See our 08/11/2009 cover story, “Bangladeshi Butter Indicator,” for more.
Sensible Stories
By , MarketWatch, 08/31/2009
MarketMinder's View: Political change is sweeping the world’s second-largest economy, but actual change might be more subdued than many think. See our 08/25/2009 cover story, “Sayonara, LDP?” for more.
Market Misperceptions
By , SmartMoney, 08/31/2009
MarketMinder's View:
“In short, the recovery will have a long, choppy beginning.” Well…yes—history shows new bull markets are volatile in their beginning stages. That’s no reason to stay out of stocks—nor does it portend doom for the market. 
Sensible Stories
By , Bloomberg, 08/28/2009
MarketMinder's View: A positive sign! Lending, all types, is increasing—showing both a willingness to lend and more demand to borrow.
Sensible Stories
By , The New York Times, 08/28/2009
MarketMinder's View: Very true. Millions of things can change between now and then. Plus, government projections haven’t been close to accurate historically. For more, see our 08/27/2009 cover story, “CB-Uh-Oh?”
Sensible Stories
By , Business Week, 08/28/2009
MarketMinder's View: Although the FDIC added hundreds of “sick” banks to its problem list, it’s worth noting it’s armed with more than enough if necessary.
Market Misperceptions
By , The Growth Stock Wire, 08/28/2009
MarketMinder's View: If this is a sucker’s rally, it’s the largest global sucker’s rally ever. Stocks are telling us economic recovery is in the fore.
Market Misperceptions
By , CNN Money, 08/28/2009
MarketMinder's View:
It’s just not true our level of debt is problematic and needs higher taxes to “pay” for it. America’s debt is very cheap right now. And the best way to raise tax revenue is with economic growth—not higher tax rates.
Market Misperceptions
By , BBC News, 08/28/2009
MarketMinder's View:
Will it be a U bottom? W? Or the widely known saxophone bottom? Whatever the economy does, remember it doesn’t necessarily apply to stocks. Stocks can surge sharply, even during a sluggish economic recovery. For more, read our 08/20/2009 cover story, “Alphabet Soup Recovery.”
Market Misperceptions
By , The Wall Street Journal, 08/28/2009
MarketMinder's View:
While this reflects what’s been an improving world, sentiment is always backward-looking and not useful in crafting a forward-looking forecast for capital markets.
Market Misperceptions
By , Smart Money, 08/27/2009
MarketMinder's View:
Expect to see lots of articles warning “September is the worst month.” Ignore them all. Even if it is a down month, will it be down enough to make paying transaction costs and taxes to get in and out a wise decision? Trying to time short-term swings is fraught with peril.
Sensible Stories
By , The Wall Street Journal, 08/27/2009
MarketMinder's View: A good, clear explanation of flash trading.
Sensible Stories
By , Investment News, 08/27/2009
MarketMinder's View: More efforts are being made on this front to make it easier for private investors to purchase failed institutions. For more, see our 05/26/2009 cover story, “Extreme Makeover: Bank Edition.”
Sensible Stories
By , International Business Times, 08/27/2009
MarketMinder's View: Folks who think stocks must revert to some mean and that going up “too far, too fast” portends ill don’t remember history very well. Stocks are volatile—to the upside as well as the downside. Big returns over short periods aren’t scary…they’re normal in new bull markets.
Sensible Stories
By , The Washington Post, 08/27/2009
MarketMinder's View: A revised GDP report shows more signs the recession is easing, with many expecting positive growth in the back half of the year. But remember, the market leads. Investors waiting for confirmation from the economy usually miss out.
Sensible Stories
By , The Wall Street Journal, 08/27/2009
MarketMinder's View: “Not all biofuels may be worth the investment because they divert land from food crops, are expensive to produce and may be eclipsed by the electric car. One fact cited against biofuels: If the entire US supply of vegetable oils and animal fats were diverted to make biodiesel, production still would amount to at most 7% of US diesel demand.” Facts are funny things.
Market Misperceptions
By , Los Angeles Times, 08/27/2009
MarketMinder's View:
They’re right. More established businesses will be less prone to move—though certainly some already have and more will. But entrepreneurs of future businesses will certainly have huge incentive to start businesses in more business-friendly places. Why California hates job-creating entrepreneurs is beyond us.
Market Misperceptions
By , MarketWatch, 08/27/2009
MarketMinder's View:
Well, sure.  The wall of monetary stimulus means inflation can become a significant risk—but not for some time yet. As this article states, “broad-based inflation was unlikely in the near term.”
Market Misperceptions
By , Financial Times, 08/27/2009
MarketMinder's View:
We rather disagree that the purpose of Finance firms is to largely “ensure that microscopically small deviations from observable regularities in asset price relationships persist for only one millisecond instead of three.” They do some other useful things. Like extend credit to people and institutions so they can buy cars, go to college, buy homes, grow businesses, develop new life-saving vaccines, etc., etc., ad nauseum.
Market Misperceptions
By , The Wall Street Journal, 08/27/2009
MarketMinder's View:
“Excessive bank bonuses are a legitimate target.” Fine, but how do you define excessive? (And whose compensation might rabble-rousers find distasteful next? Yours?) Curbing executive pay will lead to unintended consequences—by driving away the skilled workforce that’s key to a financial industry recovery.
Market Misperceptions
By , The Christian Science Monitor, 08/26/2009
MarketMinder's View:
Higher taxes might be around the corner, at least for some. But that doesn’t mean stocks have to suffer. Historically, stocks have risen through tax increases and fallen during tax cuts, and vice versa.
Sensible Stories
By , Washington Post, 08/26/2009
MarketMinder's View: Investors expected a Bernanke reappointment, and that’s exactly what they got. Continuity, especially as the economy works its way out of this recession, is a good thing for stocks. For more, see today’s cover story “And the Nominee Is…”
Sensible Stories
By , Reuters, 08/26/2009
MarketMinder's View: Some banks will continue to encounter problems, as is normal during a recession—no need to prohibit private equity firms—and their capital—when the government is looking for buyers.
Market Misperceptions
By , Washington Post, 08/26/2009
MarketMinder's View:
Investors needn’t fear the White House’s projections for the federal deficit. Budget deficits are not bad for stock returns—in fact, history shows the opposite is true. And even the White House acknowledges it can’t know what federal receipts and spending will look like in a decade.
Sensible Stories
By , Bloomberg, 08/26/2009
MarketMinder's View: Those who continued to forecast doom and gloom in recent months and steered clear of equities have missed the S&P 500’s biggest rally since the 1930s (up over 50% in six months).
Market Misperceptions
By , The Wall Street Journal, 08/26/2009
MarketMinder's View:
It’s impossible to simultaneously help and punish banks. Doing so is likely to drive top talent away from the very firms that need it.
Market Misperceptions
By , The Wall Street Journal, 08/26/2009
MarketMinder's View:
This article’s title suggests US consumers won’t contribute to an economic recovery, although it fails to explain why. In reality, consumers have been much more resilient than most realize. For more, see our 8/17/2009 cover story, “The Report of the Consumer’s Death Is an Exaggeration.”
Sensible Stories
By , The Wall Street Journal, 08/26/2009
MarketMinder's View: June global trade rose at the fastest rate in almost a year—a good sign for global economic recovery.
Sensible Stories
By , CNN Money, 08/25/2009
MarketMinder's View: “In fact, the obsession over the Dow (mine included) is a tad silly since it’s arguable the least important of the major market barometers.” True, and the Dow is too narrow, but its greatest failing is in its price-weighted construction. Better constructed indexes are market-capitalization weighted.
Sensible Stories
By , The New York Times, 08/25/2009
MarketMinder's View: Technological advances have greatly increased the amount of oil thought to be available, and that which is recoverable. And the amount known and recoverable will likely continue growing as technology continues improving.
Sensible Stories
By , Telegraph, 08/25/2009
MarketMinder's View: “History confirms bull markets always begin in the middle of the worst possible news.” Seems about right. While headlines keep bemoaning doom and destruction, stocks globally are soaring.
Market Misperceptions
By , CNN Money, 08/25/2009
MarketMinder's View:
Probably not—at least not for a while. But this is normal—unemployment typically keeps rising or at least stalls even after a recovery is underway. Growth begets jobs, not the other way around.
Sensible Stories
By , Bloomberg, 08/25/2009
MarketMinder's View: It’s hardly news, but Ben’s here to stay, at least for another four years. Fed Chairman Bernanke is nominated to stick around for another term, pledging to “work toward restoring stability to financial markets and the economy.”
Market Misperceptions
By , The Wall Street Journal, 08/25/2009
MarketMinder's View:
We’re not convinced the interests of private equity groups and taxpayers aren’t necessarily aligned. Private equity firms want a good return on their money—that involves returning banks to good health. Isn’t that what taxpayers want too?
Market Misperceptions
By , MarketWatch, 08/25/2009
MarketMinder's View:
There’s no evidence the Fed is aggressively removing liquidity. They may not be renewing some emergency programs—but only when they aren’t needed anymore—a good sign signaling Financials are stabilizing.
Market Misperceptions
By , Barron’s, 08/25/2009
MarketMinder's View:
“Investors should not mistake asset inflation for real wealth appreciation.” Great! So that means asset deflation doesn’t mean wealth depreciation, right? No one would argue that.
Market Misperceptions
By , USA Today, 08/25/2009
MarketMinder's View:
Keep in mind debt is very cheap right now. Further, there’s no evidence a big deficit is bad for stocks. In fact, it’s the reverse—periods of high deficits have been followed by great stock returns.
Sensible Stories
By , Bloomberg, 08/24/2009
MarketMinder's View: Recoveries never happen in a straight line. Governments and central banks worldwide have indicated they’ll keep monetary and fiscal stimulus in place for some time. These policies should continue to bode well for stocks.
Market Misperceptions
By , Reuters, 08/24/2009
MarketMinder's View: This will likely end up being much ado about nothing. See our 08/06/2009 cover story, “Attack of the Machines!” for more.
Sensible Stories
By , Reuters, 08/24/2009
MarketMinder's View: Expect to see governments globally keeping stimulative policy measures in place—at least until the economic recovery gains more solid footing.
Market Misperceptions
By , Bloomberg, 08/24/2009
MarketMinder's View:
These mostly dire predictions by doomsayers have persisted even as signs of recovery become apparent. Dr. Doom might not foresee economy recovery around the corner, but investors are clearly more confident the economy will improve, even if there are some bumps along the way. The stock market can continue rising no matter the path an economic recovery takes. See our 08/20/2009 cover story, “Alphabet Soup Recovery,” for more.
Sensible Stories
By , The Economist, 08/24/2009
MarketMinder's View: A look at the pros and cons of the government’s “cash for clunkers” plan. While the plan temporarily boosted sales numbers, whether it’s “cannibalized” future sales remains to be seen.
Sensible Stories
By , Richmond Times-Dispatch, 08/24/2009
MarketMinder's View: “Higher taxes shrink the return that investors and workers receive in exchange for their risk-taking, creativity, and productive efforts. So the inevitable consequence…is less investment, entrepreneurship, and work.” Well said.
Market Misperceptions
By , The Atlanta Journal-Constitution, 08/24/2009
MarketMinder's View: The Fed and other regulators made significant missteps during the financial crisis, but loose monetary policy and innovative Fed programs have been appropriate and helped prevent a more serious downturn.
Sensible Stories
By , SmartMoney, 08/24/2009
MarketMinder's View: The stock market rally reflects investor optimism that an economic upturn isn’t far off. Remember, stocks lead an economic recovery, not follow it. See our 11/04/2008 cover story, “The Ultimate Leading Economic Indicator,” for more.
Market Misperceptions
By , The Washington Times, 08/24/2009
MarketMinder's View:
We’re all for accurate accounting, but the current budget deficit isn’t going to sink the US economy.
Market Misperceptions
By , Associated Press, 08/21/2009
MarketMinder's View:
The reasoning here is flipped. As the economy continues to grow and firms return to strength, hiring will follow—not the other way around.
Sensible Stories
By , Federal Reserve, 08/21/2009
MarketMinder's View: The Fed chairman’s speech to the Annual Economic Symposium, delivered today. It’s important to remember that even Fed heads, as political appointees, must make sales pitches to keep their jobs.
Sensible Stories
By , The Wall Street Journal, 08/21/2009
MarketMinder's View: In another sign firms are healthier than most folks fathom, some are using cash to buy back debt on the cheap, saving interest costs and further shoring up balance sheets.
Sensible Stories
By , Morningstar, 08/21/2009
MarketMinder's View: Fears China will aggressively tighten monetary policy and clamp down on lending continue to be overblown. For more, see today’s cover story, “Buckle Up.”
Sensible Stories
By , Bloomberg, 08/21/2009
MarketMinder's View: Australia lowers taxes on a subset of foreign investment.
Market Misperceptions
By , The Wall Street Journal, 08/21/2009
MarketMinder's View:
We prefer a smaller government, just because you spend your money infinitely more wisely than the government does. But we disagree that government spending in a recession is disastrous. Rather, we see that wall of fiscal stimulus as being a bullish driver. Remember, the government’s first spend is usually quite silly, but those dollars then hit the economy and get spent and respent, averaging out to normal.
Sensible Stories
By , Newsweek, 08/21/2009
MarketMinder's View: So, in the short-lived “cash for clunkers” program, it seems clunker-swappers preferred non-American cars. We rarely say this, but . . . duh. Americans weren’t buying US cars before the vouchers, why would they buy them now? And let’s remember that foreign cars are built, sold, and serviced in America—which is good for the many millions of Americans those foreign firms employ here.
Market Misperceptions
By , Investor’s Business Daily, 08/21/2009
MarketMinder's View:
Actually, this “wave” has already largely hit and had far less broad impact than folks feared.
Market Misperceptions
By , The Wall Street Journal, 08/21/2009
MarketMinder's View:
The rumors of China’s demise have been greatly exaggerated. For more, see today’s cover story, “Buckle Up.”
Market Misperceptions
By , CNN Money, 08/20/2009
MarketMinder's View:
Is anyone not concerned about inflation, unemployment, and debt these days? These worries are already reflected in stock prices and don’t pose the threats to the economy this article suggests. See our 11/04/2008, 03/09/2009, and 07/02/2009 cover stories, “The Ultimate Leading Economic Indicator,” “Employing Sound Judgment,” “Goldilocks and the Inflation Bugaboo,” and others for more.
Market Misperceptions
By , Barron’s, 08/20/2009
MarketMinder's View:
Yet another silly investing tactic. Any widely known technical technique that really worked would immediately become obsolete as investors jump aboard. And if you found one that did work, would you let everyone know about it? See our 12/12/2007 column, “Technical Paralysis,” for more.
Market Misperceptions
By , Times, 08/20/2009
MarketMinder's View:
Global compensation limits? Don’t bank on it (pun intended). Why would regulators in, say, Singapore agree to compensation limits because of perceived recklessness by bankers in the UK, US, or elsewhere?
Market Misperceptions
By , Reuters, 08/20/2009
MarketMinder's View:
Investors are focused on the recovery, not the U, W, L, or other letters economists put in front of it. See today’s cover story, “Alphabet Soup Recovery,” for more.
Market Misperceptions
By , Times, 08/20/2009
MarketMinder's View:
Like it or not, fossil fuels are here to stay for the foreseeable future. Prices have a long way to rise and technology has a ways to go before alternatives become viable.
Sensible Stories
By , CNN Money, 08/20/2009
MarketMinder's View: The popularity of “cash for clunkers” was somewhat surprising, but the inefficiencies in running the program aren’t. See our 06/26/2009 cover story, “Trifling Transformers,” for more.
Sensible Stories
By , BusinessWeek, 08/20/2009
MarketMinder's View: In short, yes. But it’s also true the US is becoming a smaller part of the global economy thanks to fast-growing emerging markets like India, China, and Brazil. See our 04/06/2009 and 08/14/2009 cover stories, “De-U.S.ification” and “Out of the Gates,” for more.