During my eighty-seven years, I have witnessed a whole succession of technological revolutions. But none of them has done away with the need for character in the individual or the ability to think.”
September 16, 2011
It's been a tough few months for the stock market but things could be worse. While the S&P 500 has declined roughly 12% from its peak in early May, the price action overseas makes the grass look a lot greener on this side of the pond. While we struggle domestically with high unemployment and uneven economic data, foreign markets ...
September 06, 2011
“Oh, my! MRK (Merck Drug) is trading like soybeans!” screamed the shocked trader. It was the spring of 1982 and stock futures and program trading had just been introduced to the equities market. Prior to then futures, which existed for hedging purposes, were only in commodity markets. Computer-driven Program Trading– the simultaneous...
August 09, 2011
As a wanna-be screen writer I know that drama is all about conflict. Without conflict there is no drama. It fascinates and entertains us. Innately, we desire to learn from other people’s mistakes.
In the investment business there is always drama in the macro picture. So Wall Street firms hire strategists who attempt to tell us...
July 27, 2011
Investors might recall the media frenzy that was whipped up over the Y2K brouhaha at the end of 1999. Billions were spent preparing for an impending technological Armageddon or at least ... total gridlock. Cars were certain to crash at every intersection. Banks would find electronic vaults empty. And computerized airborn planes were...
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