To All, Mini Barron's review. Not a great issue, but some interesting stuff in the recurring features.
1. Abelson has the same skeptical reaction as I posted here to the idea that only core inflation matters.
2. In the piece "One-Decision Stocks", Andy Bary mentions that tech stocks were 7% of the S&P 500 valuation in 1990 and 24% today.
3. Two failed day traders are profiled. One geek who lost his inheritance, condo and girlfriend (how much did he get for her? <g>) said he is not crying sour grapes. He is screaming poisoned vineyard. My comment would be that he was happy enough until they took away his bottle of poison.
This piece is important because it shows the sort of self-justifying crap we will hear when the BK hits. It is never the idiots' fault, it is always the devil who made them do it. Doofus thinking.
4. An analyst likes some internut stocks, but hates Ebay and Amzn. The only thing I disliked about this article was Barron's describing her as prescient for a neutral recommendation just before those two stocks crashed. Uh, prescience would require a minimum of a sell recommendation and, preferably, a sell short recommendation. Neutral means to sit around fat, dumb and happy and do nothing, which was the wrong strategy. Yes, she was better than the other analysts, but I understand that Alger Hiss was nicer than the other Nazis. Relative judgement means nothing in the real world.
5. The best part, by far, was The Market Watch segment. Doug Korty completely debunks the 36,000 Dow idiots and his logic is a joy to behold. He points out 4 major faults with their methodology. Most important, IMHO, is that the guys cannot do arithmetic. <g> Must reading.
Also must reading is a small, alas, bit by Richebacher. He rips the face off Reagannomics and mentions that this bit of economic lunacy is what caused us to have a debt binge and negative savings. I always figured that if they call something Surprise Side Economics, they know something sneaky is taking place. <g> |
