“For someone who has spent his life lapping up adulation, however fake, it was a harsh realization.”
Day: September 9, 2017
Ignorance By Design And The Social Costs Of Stupidity
“Within this universe, economic policies are designed primarily for political marketability; economic science exists largely to provide impressive diagrams and equations to sell them with. Phrases designed in think tanks and focus groups (e.g. free market, wealth creators, personal responsibility, shared sacrifice) are repeated like incantations until it all seems like such unthinking common sense that no one even asks what the resulting picture has to do with social reality.”
This Is The ‘Trickiest’ Thing For Today’s Macro Traders
As Bloomberg’s Cameron Crise notes, this is “a particularly acute issue for currency and bond traders,” but given the fact that the fate of the risk rally depends in no small part on whether policymakers exhibit an “appropriate” level of dovishness as they attempt to normalize, one could well argue that it’s even more “acute” for equity investors, especially considering the fact that the retail variety isn’t usually very informed and is thus subject to being unhedged and blindsided.
(Still) Hakuna Matata?
Perhaps the most amusing thing about it all is that it’s become so ubiquitous and reliable that it can now be summarized succinctly in the form of a bullet point (and apparently “bulletproof”) investment thesis…
‘They Bought It All – Literally’
To be sure, traders and investors were left to cope with conflicting signals in the
‘Real Question’ – Lindy West Blasts Ivanka In Truly Scathing NYT Op-Ed
“Ms. Trump’s self-professed commitment to corporate gender parity (about as milquetoast as feminism gets, but in Trump’s America, radicalism is relative) was trotted out incessantly during the campaign, especially as an antidote to her father’s self-professed commitment to nonconsensually sticking his hands on women’s genitals.”
Liquidation Event?
“…there is less apparent effect for the SPX, but taken together with the behavior of the level of rates and curve slope, the modest depression in SPX at roughly the same post-storm horizon could also be consistent with some asset liquidation.”
The Question Every Goldman Client Is Asking: ‘Is An Equity Correction Imminent?’
“The question every client asks: ‘Is an equity correction imminent?’ The impetus for the inquiry comes from several sources”…
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