Little Meaning in the Muck
11/21/2008 By Fisher Investments Editorial Staff
Today’s volatility is sometimes hard to fathom—but some of it is surely due to existing non-fundamental pressures.
Presto Change-O
11/20/2008 By Fisher Investments Editorial Staff
Some insurance companies are turning themselves into savings-and-loan holding companies to qualify for government funding.
Invest for the Future, Not the Present
11/17/2008 By Fisher Investments Editorial Staff
During economic downturns, many wait for signs of recovery before investing. But investment decisions based on today’s news only puts investors behind.
Plan B
11/14/2008 By Fisher Investments Editorial Staff
The government has switched to “Plan B” on various rescue programs.
And Justice For All…
11/13/2008 By Fisher Investments Editorial Staff
Some have argued the government’s financial crisis cure-all has been one-sided—but a new plan seems to indicate that will soon be remedied.
A Motor City Mess
11/11/2008 By Fisher Investments Editorial Staff
Can a government save an industry? Detroit’s Big Three are hoping so.
Down to One
11/5/2008 By Fisher Investments Editorial Staff
The US elected a new president Tuesday night, removing one key uncertainty.
The Ultimate Leading Economic Indicator
11/4/2008 By Fisher Investments Editorial Staff
The stock market is a leading economic indicator, not the other way around.
Months Like Years
11/3/2008 By Fisher Investments Editorial Staff
The last day of October finished higher—but the month was tough for stock investors.
Nothing’s Shocking
10/31/2008 By Fisher Investments Editorial Staff
Thursday brought further global liquidity support and weak (though expected) preliminary third quarter GDP data.
Tooling Around
10/30/2008 By Fisher Investments Editorial Staff
Cutting the federal funds rate is just one monetary policy tool of many.
Signs of Life
10/29/2008 By Fisher Investments Editorial Staff
Taken together, recent government and private sector actions are easing financial uncertainty.
Banking on the Government
10/28/2008 By Fisher Investments Editorial Staff
What will banks participating in the Treasury’s recapitalization program do with the extra funds?
There Are Positive Earnings
10/23/2008 By Fisher Investments Editorial Staff
Despite the gloomy headlines, there are plenty of companies reporting positive earnings.
More Fed First Aid
10/22/2008 By Fisher Investments Editorial Staff
Recently, the Fed announced more help for ailing money market mutual funds.
Easing Goes It
10/17/2008 By Fisher Investments Editorial Staff
Tight credit conditions have eased lately—a little-noticed fact.
Follow the Leader
10/15/2008 By Fisher Investments Editorial Staff
After Monday’s round of announced European government capital injections, the US countered with a plan of its own Tuesday.
The Paper’s Piling Up
10/10/2008 By Fisher Investments Editorial Staff
In addition to an interest rate cut, the Federal Reserve this week opened a new lending facility aimed at jumpstarting the commercial paper market.
The Benefit of Bad Memories
10/8/2008 By Fisher Investments Editorial Staff
Though today’s financial panic may seem Great Depression-like, the real economic consequences don’t have to be.
Build a Man a Fire…
10/6/2008 By Fisher Investments Editorial Staff
The Treasury’s $700 billion financial rescue plan won’t solve anything quickly—at least not in the way most folks think it will.
From Liquid to Antiques Roadshow
10/2/2008 By Fisher Investments Editorial Staff
We examine the controversial topic of mark-to-market accounting—for those who forgot the details (or never knew to begin with)!
Monday’s Markets
9/30/2008 By Fisher Investments Editorial Staff
After one of the largest down days in years, some new information came to light while other issues remained unresolved.
Politicizing the Rescue Plan
9/29/2008 By Fisher Investments Editorial Staff
In the hands of politicians, the financial rescue plan has become…politicized!
Merely Bailout Opines, Not Call to Action
9/26/2008 By Fisher Investments Editorial Staff
Many smart folks are weighing in on the government’s bailout plan. Instead of hasty action, use this time to become as informed as you can.
Dollars for Assets
9/25/2008 By Fisher Investments Editorial Staff
As Congress debates the Treasury and Fed’s financial system bailout, many are concerned over its “price tag.”
Certainly Uncertain
9/23/2008 By Fisher Investments Editorial Staff
The weekend and Monday delivered more news of material importance to financial markets.
Wall Street’s Wild Spirits
9/22/2008 By Fisher Investments Editorial Staff
After a wild week on the Street, markets ended just about where they started.
A Shot in the Dark
9/19/2008 By Fisher Investments Editorial Staff
Curtailing short selling is at best a regulatory shot in the dark.
Concerning AIG
9/18/2008 By Fisher Investments Editorial Staff
The government rescue of insurance giant AIG is concerning but has its bright spots.
Weekend at Lehman’s
9/15/2008 By Fisher Investments Editorial Staff
On one of the worst single days in stock market history, capital markets revealed as much about their strength as their weakness.
Today, Resolve Trumps Timing
9/12/2008 By Fisher Investments Editorial Staff
The last ten months have tested investors, but history and fundamentals say a bottom is likely near. When stocks hit bottom they’ll bounce high.
New Rules for M&A
9/11/2008 By Fisher Investments Editorial Staff
New M&A accounting and reporting standards mark a positive step toward creating seamless global markets, but pose problems for today’s would-be sellers and buyers of companies.
Fate Accompli
9/9/2008 By Fisher Investments Editorial Staff
For months, the fates of Fannie and Freddie seemed uncertain. Now, the federal takeover is a fait accompli.
Looking Forward to the Back End
9/5/2008 By Fisher Investments Editorial Staff
Major indexes have declined 20% or more from their highs, indicating a bear market. With the US presidential election at hand, investors face a critical juncture.
It Could Happen to You
9/4/2008 By Fisher Investments Editorial Staff
“Could” and “might” aren’t news. Investors should be wary of opinions masquerading as journalism.
Survey Says
8/26/2008 By Fisher Investments Editorial Staff
Sentiment-based surveys almost never capture the complete picture.
Everything in Its Right Place
8/25/2008 By Fisher Investments Editorial Staff
Many assign undue weight to the successes or failures of international organizations. But sovereign nations will do as they please, and failure to reach wide consensus doesn’t mean globalization’s end.
Too Big to Fail
8/19/2008 By Fisher Investments Editorial Staff
Will the Fed’s expansion of powers prove to be a terrible precedent or a pertinent innovation?
Don’t Demonize the Deficit
8/18/2008 By Fisher Investments Editorial Staff
Earlier this week we noticed the re-emergence of a classic investing myth. Folks hailed the trade deficit shrinking on growing exports as good news.
The Dollar and You
8/15/2008 By Fisher Investments Editorial Staff
There’s lots of hubbub surrounding the US dollar’s recent rally against other major currencies. What should investors know when it comes to currency movement?
California Dreamin’
8/12/2008 By Fisher Investments Editorial Staff
Is California’s once-golden economy now tarnished by years of anti-competitive regulation and taxes?
Cost Consumed
8/5/2008 By Fisher Investments Editorial Staff
Higher production costs aren't necessarily directly passed on to the consumer.
Recessionism
8/1/2008 By MarketMinder editorial staff
As second quarter 2008 GDP came in stronger than expected, headlines still find reason to be gloomy.
Long Train Runnin’
7/31/2008 By MarketMinder editorial staff
Investors looking for anecdotal evidence miss some hard data, like transports, which remain strong--unlikely to happen during recession.
Get Your Kicks on Route 66
7/30/2008 By MarketMinder editorial staff
Some folks fret lower oil and gas prices are a bad sign for Energy and the economy, but fundamentals still look nice.
Earnings Expectations
7/29/2008 By MarketMinder editorial staff
Earnings season is proving to be a bumpy ride, but good news exists.
Time to Go to the Bull Pen?
7/28/2008 By MarketMinder editorial staff
Sector weightings are one of the key drivers of portfolio performance. Knowing when to make adjustments is vital to performance over time.
Your Mother Was a Hamster
7/21/2008 By MarketMinder editorial staff
With all the talk of economic woe and calls for accountability, a harsh regulatory response could become a risk.
Pessimistic Prognosticators Aplenty
7/18/2008 By MarketMinder editorial staff
Those in the financial industry are overwhelmingly bearish. Is there legitimate reason for their pessimism, or do the current troubles within their industry skew their views?
CPI : Rotten to the Core
7/17/2008 By MarketMinder editorial staff
While CPI has ticked up of late, rekindling inflation fears, global long-term interest rates, a better indication for the market’s expectation of inflation, remain benign.
About Fannie and Freddie…
7/14/2008 By MarketMinder editorial staff
Markets were volatile again on Friday as fears over the health of Fannie Mae and Freddie Mac resurfaced.
Care to Dance?
7/10/2008 By MarketMinder editorial staff
Initial public offerings (IPOs) have dried up lately. Many view this as a bearish sign. But a dearth of IPOs means less stock supply—bullish for prices.
The Paradox of Pursuit
7/3/2008 By MarketMinder editorial staff
For this year’s celebration of independence, it’s time to ask why we feel so bad while the world keeps getting better.
Oxymoronic Growth
7/1/2008 By Fisher Investments Editorial Staff
That so many want to classify the economy today as being in recession is probably more a function of dour sentiment than economic reality.
A Classic French Fold
6/30/2008 By MarketMinder editorial staff
Many touting economic stimulus checks as the economy’s saving grace are talking out of both sides of their mouths.
Don’t Fear the Fed
6/26/2008 By MarketMinder editorial staff
The Federal Reserve left rates unchanged yesterday, but hinted at a potential shift in policy in the months ahead. Regardless, incremental rate changes don’t matter much to long-term investors.
Hanging Tough…Over and Out!
6/24/2008 By MarketMinder editorial staff
Many worry today’s market volatility is because the world’s more perilous than ever. Truth is, there’s never a dull moment. Hang tough!
What Wealth Effect?
6/6/2008 By MarketMinder editorial staff
Folks fearing the weak housing market will dampen consumer spending shouldn’t worry—consumer spending tracks disposable income, not home equity.
Bellwether Blues
4/10/2008 By MarketMinder editorial staff
Folks tend to base broad economic views on local circumstances and solitary storylines. This earnings season, be wary of assigning too much weight to the performance of a small set of traditional economic bellwethers—there’s a wider world out there.
The Good, the Bad, and the Not So Bad
4/3/2008 By MarketMinder editorial staff
Ben Bernanke’s congressional testimony on Wednesday seemingly supports calls for recession in 2008. Scaling the problems reveals slower growth, but a recession remains unlikely.
New Rules for the Street?
4/1/2008 By MarketMinder editorial staff
Treasury Secretary Henry Paulson announced an “overhaul” plan for U.S. financial markets. But the plan, if it survives, will likely look very different.
Trial by Fire
3/14/2008 By MarketMinder editorial staff
Treasury Secretary Paulson’s new policy recommendations intended to strengthen financial markets could prove to be more bane than boon.
Pawning Stocks
3/12/2008 By MarketMinder editorial staff
Stocks have been sold in the short-term to pay off debt. Said otherwise—certain financial institutions have been de-leveraging. It’s kind of like pawning your guitar to pay the rent.
Going Once, Going Twice
3/10/2008 By MarketMinder editorial staff
The Fed’s latest fix has markets in a huff. But just what is a Term Auction Facility anyway?
The Trouble with Carlyle
3/7/2008 By MarketMinder editorial staff
Investors fear Carlyle Capital’s troubles signal larger problems surrounding agency mortgage securities, but Carlyle’s woes aren’t systemic.
Not in Our House!
2/27/2008 By MarketMinder editorial staff
Reported January foreclosure rates are up 57% from last year—a closer look at the data shows the accompanying fears are overblown.
Open for Business
2/25/2008 By MarketMinder editorial staff
Behind the turmoil, markets continue to function normally.
Municipal Bondage
2/15/2008 By MarketMinder editorial staff
Recent failed muni bond auctions have sparked new fears Wall Street’s in credit bondage. But a closer look reveals just another overhyped worry of the liquidity crisis.
Pass the Banjo
2/13/2008 By MarketMinder editorial staff
The US consumer isn’t dead yet! January sales growth beat expectations and is tempering fears of an impending recession.
Emotional Rescue
2/12/2008 By MarketMinder editorial staff
Is the Sage of Omaha really trying to bail out bond insurers, or merely conducting business as usual?
Credit Zombies
2/8/2008 By MarketMinder editorial staff
Do higher credit card delinquency rates mean American consumers are finally dead? No—in fact, delinquency rates are still below average. But even higher rates haven’t spelled doomed historically
Can We Get Some Service Here?
2/5/2008 By MarketMinder editorial staff
Market reaction to today’s ISM service industry report is overwrought and near hysterical—not an uncommon reaction to economic news of late.
More Mergers!
2/1/2008 By MarketMinder editorial staff
Acquisition and share buyback activity march onward amid the tumult—an indication economic and market fundamentals are much stronger than today’s pervasively dour outlook.
Just Four Things
1/31/2008 By MarketMinder editorial staff
Ignore short-term market swings and investor fears and focus on what the market’s likeliest to do going forward—only one of four possible scenarios.
Still Growing
1/30/2008 By MarketMinder editorial staff
While some are swooning over the “worst economy in five years,” a sober analysis of preliminary US GDP figures released today shows an economy still on strong footing.
Housing Humdrum
1/29/2008 By MarketMinder editorial staff
Though bad news from the residential housing sector continues making headlines, it won’t have the long-term economic or market impact investors fear.
Empty Calories
1/24/2008 By MarketMinder editorial staff
Today’s announced “stimulus” package from the beltway is little more than empty calories for the economy.
Debt Disbelief
1/23/2008 By MarketMinder editorial staff
A US bank liquidity crisis never materialized in 2007…and we’ve got the data to prove it!
Fear and the Fed
1/22/2008 By MarketMinder editorial staff
Market action today isn’t warning you to sell—rather, now is the time to remain disciplined and ride out market turbulence.
The Circle of Life
1/18/2008 By MarketMinder editorial staff
Bond insurers are struggling to keep their heads above water as ratings agencies evaluate credit ratings. But new companies are entering the market and increased competition promises an improved industry over the coming years.
Inflation - It's Prices, not Price
1/17/2008 By MarketMinder editorial staff
Investors are worried about plenty today, but inflation shouldn’t be on their short list.
America for Sale
1/16/2008 By MarketMinder editorial staff
Fears surrounding foreign governments’ investments in US firms is unwarranted. Capital is capital—the freer it flows the better.
Nothing New
1/15/2008 By MarketMinder editorial staff
Stocks took a walloping today on widely expected news tied to Financials’ health and mortgage-related asset write-downs.
The Fed’s Show and Tell
1/14/2008 By MarketMinder editorial staff
The Fed plans on communicating more regularly with the American public, which is nice, but we believe won’t ease volatility or make forecasting markets any less difficult.
Lenders on the Block
1/11/2008 By MarketMinder editorial staff
As two troubled Financials firms prepare to go on the auction block, note they are getting bought out by other Financials firms. The sector isn’t as imperiled as it may appear.
Market Noir
1/10/2008 By MarketMinder editorial staff
It’s no wonder market volatility is high lately. Today’s headlines reveal a lot of market misperceptions. More than ever, folks seem to be choosing an overly dour view in place of reality.
Junk Bonds and Green Skies
1/9/2008 By MarketMinder editorial staff
Predictions about rising bond default rates seem too dour and highly unlikely.
Employment Drizzle
1/4/2008 By MarketMinder editorial staff
In light of today’s dour employment news, we’re rerunning a past story detailing the imperfect nature of employment data.
What Dollar Story?
12/26/2007 By MarketMinder editorial staff
2007 was a year of hand-wringing about the dollar’s demise. With just a few days left in the year, it turns out the dollar wasn’t so weak after all.
Recession Confusion
12/24/2007 By MarketMinder editorial staff
Headlines, polls, feelings—none of these are good indicators of a coming recession. Instead, you must look at the hard data to know if we’re in recession.
The Willie Loman Effect
12/13/2007 By MarketMinder editorial staff
The newest rationale to be bearish is possibly the silliest yet: A vicious cycle-induced recession.
Feel the Flow
12/11/2007 By MarketMinder editorial staff
Investors dread decreasing home prices will translate to lower net worth and slower consumer spending. But the Federal Reserve’s latest report on the US household reveals the largely unappreciated strength and vigor of the American consumer.
MarketMinder’s Letter to Santa
12/10/2007 By MarketMinder editorial staff
As 2007 draws to a close, we consider just a few of the market conditions that could help fuel a continued global equity bull market.
Resilience
12/7/2007 By MarketMinder editorial staff
Pearl Harbor reminds us of the resiliency, strength, and versatility of the United States and its citizens. By comparison, today’s perceived economic problems are mere trifles.
Recession Quiz
12/6/2007 By MarketMinder editorial staff
Folks seem to believe the US is headed for a recession. We’d bet most of those folks would fail our quiz.
A Million a Minute
12/4/2007 By MarketMinder editorial staff
Investors commonly fear the US government is over-indebted, particularly to foreigners, and this poses an economic threat. However, our government is largely indebted to Americans, and currently, our debt load isn’t worrisome.
Six Degrees of Tax Policy
11/19/2007 By MarketMinder editorial staff
Contrary to popular opinion, a Democrat President and Congress doesn’t guarantee a tax hike. Rather, it’s conceivable the Democrats maintain the tax cuts for political leverage.
The Secret Testimony of Big Ben
11/8/2007 By MarketMinder editorial staff
Bernanke’s testimony to Congress today depicted a resilient economy with plenty of capital markets-based mechanisms to ballast the soft housing market. Too bad many chose to hear a different message.
Earnings Breather Not a Bear Harbinger
10/24/2007 By MarketMinder editorial staff
Reported US corporate earnings are weak so far in the third quarter, but a close look at the numbers and proper perspective reveals this doesn’t signal a new bear market.
Mind the Gap
9/28/2007 By MarketMinder editorial staff
Politicians have it backwards. Debt is not a societal negative. It’s a vital economic driver, and having access to credit makes society wealthier overall.
Vector Investing
9/27/2007 By MarketMinder editorial staff
Large and diverse economies (such as the US) require huge dislocations to impede economic growth—most concerns like subprime and new housing supply simply aren’t big enough to matter.
Ben to the Fake Rescue!
9/19/2007 By MarketMinder editorial staff
Yesterday’s Fed action won’t have much impact, which is good news, since our healthy economy requires no rescuing.
Belaboring Labor
9/7/2007 By MarketMinder editorial staff
Today’s jobs report was indeed negative, but when the hype is cleared away it doesn’t amount to much.
Our Callous Economy
9/6/2007 By MarketMinder editorial staff
News about increasing foreclosures may not be as bad as you think because weakness in the housing sector isn’t enough to materially hamper America’s economy.
Partners in Debt
8/29/2007 By MarketMinder editorial staff
Think the US or UK has too much debt? Think again.
Best Credit Crunch Ever!
8/23/2007 By MarketMinder editorial staff
Catcalls for a world economy in crisis on fears of the supposed credit crunch are getting sillier by the day as hard evidence of stability and strength piles on.
Corrective Measures
8/3/2007 By MarketMinder editorial staff
Our daddies told us there'd be days like this. The S&P 500 took a whooping today, capping what's been a tumultuous couple weeks in the market. But don't let a few days' frightening downside volatility scare you away from stocks just yet.
In the Meantime
7/31/2007 By MarketMinder editorial staff
As the stock markets work through jitters about a credit crunch and subprime, recent aggregate economic news has been very encouraging.
Good Data, Bad Information
6/1/2007 By MarketMinder editorial staff
Corporate profits are beating expectations.
Productive Ignorance
5/3/2007 By MarketMinder editorial staff
U.
Dying of Old Age
3/29/2007 By MarketMinder editorial staff
Economies aren’t like people.
OMG! Big Telecom Returns
3/15/2007 By MarketMinder editorial staff
Editor’s Note: Today’s commentary is written in half English, half Texting language.
No Canary in the Coal Mine
3/13/2007 By MarketMinder editorial staff
Markets were pounded today in what could be the beginning of the second down leg of the correction.
Death and Taxes…and Economic Growth
3/9/2007 By MarketMinder editorial staff
Ben Franklin said: "Certainty? In this world nothing is certain but death and taxes.
Idle Thoughts
3/8/2007 By MarketMinder editorial staff
Our minds are wandering.
Whoop Whoop Whoop
3/7/2007 By MarketMinder editorial staff
The incompetence of government-run systems cannot be overstated, and we cannot belabor that point enough.
If CEOs Don't, Investors Will Do It For Them
2/23/2007 By MarketMinder editorial staff
Stocks are cheap and they need to get more expensive.
Don't Go Blind from the Subprime
2/20/2007 By MarketMinder editorial staff
If you picked up a newspaper in the past few weeks, you probably saw at least one article detailing the downward spiral of the subprime mortgage market.
Still In Flight
1/31/2007 By MarketMinder editorial staff
Back in November, we provided a list of worries keeping overall sentiment cautious about the economy (see our past commentary "Skyscraper of Worry" for the full list).
Ben's Doomsday Prediction
1/18/2007 By MarketMinder editorial staff
Dominating headlines today is our bearded buddy Bernanke’s Congressional testimony about the dangers of a retiring baby boomer generation.
Casual Correlations
1/16/2007 By MarketMinder editorial staff
We’ve done a very bad thing.
Inflating Wages
11/18/2006 By MarketMinder editorial staff
One of our favorite pastimes is delivering bad news to the bears in times we believe it’s a bull market (like now).
Too Busy Working
11/10/2006 By MarketMinder editorial staff
United States unemployment stands today at a 5-year low of 4.
The Savings Rate Myth
11/2/2006 By MarketMinder editorial staff
We’re a bit tired of hearing of the over-extended consumer.
Stocks Don't Look Back to the Future
10/27/2006 By MarketMinder editorial staff
It’s official: US GDP growth slowed in the third quarter.
Guess What? The US is Bigger than Ever.
10/5/2006 By MarketMinder editorial staff
Hopefully you said "That’s Great!" after reading the above.
I'm OK, You're OK (and We're Both US Consumers)
9/29/2006 By MarketMinder editorial staff
Psychologist Thomas Harris wrote a book called I’m OK, You’re OK in 1976 explaining his theory on how we perceive ourselves and others.