Random Roger had an interesting tongue-in-cheek post called “The Best February Ever.” Here are some highlights: If we can average 1% per day for the month, like we are starting out we’ll have the best February ever. The futures obviously got a huge boost from MSFT buying YHOO. It seems to me I sold Yahoo into a rumor about this …
Sunday Musings: Front Runner
Reader Jeff submitted an interesting blog post dealing with an old problem that you may have thought had long been resolved. This piece was written by Jake Zamansky, a NY attorney and titled “Front Running and Institutional investors.” Here’s what he had to say: You would think that institutional money managers, who have a fiduciary responsibility to their clients, would …
The Last Hoorah
Bond insurers have made front page news lately in the face of severe Subprime losses and their potential downgrade from ratings companies. Calculated Risk reports as follows: Standard & Poor’s Ratings Services today lowered its financial strength, financial enhancement, and issuer credit ratings on Financial Guaranty Insurance Co. to ‘AA’ from ‘AAA’ and its senior unsecured and issuer credit ratings …
No Load Fund/ETF Tracker updated through 1/31/2008
My latest No Load Fund/ETF Tracker has been posted at:http://www.successful-investment.com/newsletter-archive.phpAnother interest rate cut was all the bulls needed. Despite negative economic news, the major indexes closed sharply higher. Our Trend Tracking Index (TTI) for domestic funds/ETFs moved to +1.42% above its long-term trend line (red), back into bullish territory. To avoid a whipsaw signal, I will wait for further upside …
Testing Patience
David Gaffen of the WSJ had this to say:Don’t like what the stock market is doing? Wait a few minutes. The Dow Jones Industrial Average was lately up 111 points, after losing nearly 200 points at one point earlier in the day. Such swings have become commonplace in this period of increased volatility. Through the first six months of 2007, …
A Non Event
Despite all of the hoopla and anticipation of the Wednesday’s interest rate cut, the markets ended on a down note. In a way, it may have been a classic “buy the rumor sell the fact” type of outcome. Personally, I think it’s slowly sinking in that these unprecedented rate cuts of the past 8 days actually represent bad news about …