I just listened to the chief U.S. economist for Barclay’s Capital. He is predicting the S&P, which is now 1244 will drift down to 1150 by next summer but end the year at 1330, which would be a dramatic turnaround indeed. Earlier this morning, I listened to the chief European economist for Barclays in Europe … Continue reading For What It May Be Worth
The Flinchum FileThoughtful Economic Analysis and Existential Opinions
Overnight, Asian markets were mixed but generally up. The European markets are decidedly positive. The futures indicate the Dow will gain about 90 points at the 9:30AM opening. After a record-breaking week, it is encouraging to see investors are buying risk, before the European summit this week. You will recall the European leaders promised resolution … Continue reading A Coalition of the Willing . . .
1957 was an important year for investment analysts. That was the year that Harry Markowitz published his Modern Portfolio Theory and later won the Nobel prize. It was also the year that Ayn Rand published Atlas Shrugged and changed America. Perhaps, that was a hyperbolic over-statement but Ms. Rand would have loved it, as she … Continue reading The Little Russian Girl Who Changed America
The monthly Jobs Report issued by the Department of Labor is the most closely watched economic report every month. It is issued the first Friday of each month, i.e., Today! Before the Report was announced, the futures market indicated the Dow would gain about 130 points at the open. Economists were expecting 125 thousand jobs … Continue reading Drum Roll, Please . . . Ho Hum
Yesterday, the market closed out a very volatile November with a roaring 490 point gain in the Dow. Today, we start the month of December, which is historically kind to the market. In fact, December is positive 80% of the time. The average gain is an impressive 2%. The last time we had a negative December was … Continue reading Happy December
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