Thursday, August 20, 2015

Quote of the Day

August 20, 2015
CNBC: S&P 500 is having a dull year, and that's good for investors

There are so many things disturbing about the mindset of this article that I've decided to just dwell on the one that is the most glaring.

"It's not a fun market right now, but the past 23 years has been, and if this is the 'pay back' for that—which at this point is a break-even year—sign me up again." - Howard Silverblatt, senior index analyst at S&P Dow Jones Indices

If cherry picking the starting point of the fun as the depths of the early 1990s recession, ignoring the current lofty levels of the stock market that's showing serious cracks, ignoring the dotcom bubble and bust, ignoring the housing bubble and bust, ignoring how many millions lost their jobs, ignoring how many millions lost their homes, ignoring the widespread fraud, ignoring the government bailouts, ignoring the emergency monetary policies that have left us in ZIRP to this very day in the aftermath of the Great Recession, and ignoring the trillions of dollars of debt we've racked up in order to make that all happen can be considered fun, then yeah, let's sign ourselves up for a repeat. I'm sure it will be an even bigger hoot the second time around.


Forehead. Desk. Whack. Whack. Whack.


Mr Slippery said...

There are many great quotes in that article. I like "A feeble return has been a bull indicator". I thought a good return was a bull indicator, but not I learn that bad returns are a bull indicator. Does that mean a good return is a bear indicator, or is every return a bull indicator? This stock stuff is confusing. I'll stick with my bond ladder and i-bonds.

Stagflationary Mark said...

Mr Slippery,

Bare Indicator

"Only when the tide goes out do you discover who's been swimming naked." - Warren Buffett

Feeble Return

Georgia Tech Attempts Kick Return, Ends Up With Safety

This is Georgia Tech's best player, Orwin Smith, suffering a catastrophic brain fart while debating whether to run out this kickoff against Miami or not.

Yay! Safety! ;)