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If you are a "cover contrarian" and a bear, you will love the cover of Barron's this week:
That's right; Barron's is declaring bears doomed, based on input from big money managers.
The same big money managers who said………
This is simple, folks: Big Money Managers have no vested interest in saying anything except that the market will go higher.
Every year.
Forever.
So this Barron's story is just a joke that the world never quite seems to get.
I thought some folks would appreciate this 1967 clip about Home Computers in the future (the "future" being around 1999, I believe). They actually got the applications pretty much right, even though the, umm, user interface is more along the lines of a microfiche.
While enjoying my same-breakfast-every-morning (chopped fruit/granola/blueberries/cottage cheese) and same-drink-every-morning (coffee with some fatty milk) and reading my same-paper-every-morning (the New York Times, dead-tree edition), I read David Brooks' column titled An Economy of Grinds.
It begins:
If you go to business conferences, you know that at lunch it is definitely better to be seated next to a prince than a grind.
Princes, who can be male or female, are senior executives at major corporations. They are almost always charming, smart and impressive. They’ve read interesting books. They’ve got well-rehearsed takes on the global situation. They can drop impressive names as they tell you about their visits to the White House, Moscow or Beijing. If you’re having lunch or dinner with a prince, you’re going to have a good time.
Grinds, on the other hand, tend to have started their own company or their own hedge fund. They’re often too awkward to work in a large organization and too intense to work for anybody but themselves.
Ummm……..I nervously glanced to see if my picture was next to the Grind paragraph.
In any case, it's an interesting read, which you can fetch here.
