equities

In a recent post I said that I was selectively scanning for value plays at this level. A reader asked me the legitimate question: "Why would anybody buy anything in this market?" Basically, he was questioning my sanity.I am entirely sane…

I don't think that the market as a whole is going to go up rapidly or that another bull market will soon be underway (In fact, I think we are in a secular bear market and the inflation-adjusted lows are even further down). However, I do…

Yesterday, I said I am selectively bullish on stocks and bonds. Prices have come down s far that a number of companies are trading under book value. This suggests that investors are so fearful that they are selling anything or that they…

As you may have figured out from my recent commentary, I am a lot more bullish on global markets than I was just two weeks ago.  I feel that we have passed a very important stage in this credit crisis and that the panic phase is over --…

This amazing chart is interactive at the NYTimes:

I knew today was going to be a fantastic day for equities given what we saw in Asia overnight and in Europe. But, 936 points up for the Dow is pretty spectacular. As bad as this past Thursday was for the market in general and financial…

This morning is shaping u to be one of the largest up days in market history. In Asia, Hong Kong's Hang Seng was up over 10%. Singapore's Straits Times Index rose 6 and 1/2 percent. In Europe, major markets are up as much as 7%. Dow…

Looking at the action in overnight trading, I see a very strong move to the upside in the offing in equity markets worldwide. All of the data is looking bullish. In Australia, the All Ordinaries is up five percent led by banking shares.…

You have probably heard people bandy about the term pro-cyclical as it has become a key concept for economists as we enter a downturn. The crux of pro-cyclicality is that some things rise with an upswing, but fall with downswings --…

Look, the markets were really ugly this week. But, at a minimum, we avoided the worst on Friday. In the end, we can live in a constant reality of fear and loathing.... or we can escape and relax. Everybody needs a little escape now and…