Daily Markets - Financial News And Opinions

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• Mutual Fund Managers Should Listen To Their Mothers
• More Than A Four-Letter Word
• Spending On Clothing And Footwear Dips Below 3% Of Disposable Income For First Time In U.S. History
• What Happened To Jobs?

Mutual Fund Managers Should Listen To Their Mothers Posted: 20 Mar 2010 05:01 PM PDT Mom was right. “Because everyone else is doing it” is as dumb a justification now as it was back in childhood. There will be a pullback sooner or later. But at this point investors can no longer wait for what the market will do, they have to follow what the money is doing now. - WSJ, “Money Flowing into Stocks is Form of Reverse Capitulation” When I was 13 years old, there was nothing in the world I wanted more than a skateboard. For a seventh grader in the late '80s, skateboarding was … [visit site to read more]

More Than A Four-Letter Word Posted: 20 Mar 2010 03:34 PM PDT A fascinating new report from the United Kingdom’s Ministry of Defense, “Global Strategic Trends - Out to 2040″ (which I’ve also made reference to at When Giants Fall), offers plenty of food for thought for those who, unlike today’s equity investors, understand that risk is more than just a four-letter word. In one section, the authors discuss the issue of “strategic shocks,” a variation of which some might describe as “black swans”: The strategic context in 2040 is not shaped … [visit site to read more]

Spending On Clothing And Footwear Dips Below 3% Of Disposable Income For First Time In U.S. History Posted: 20 Mar 2010 01:01 PM PDT Americans spent almost $326 billion on clothing and footwear in 2009 (data here), which as a share of disposable personal income (data here), was the lowest ever in U.S. history, at only 2.98%. Spending on clothing as a share of income has fallen in 20 out of the last 22 years, from 4.78% in 1988 to less than 3% in 2009. Compared to 1950 when spending on clothing was 9% of income, spending last year was less than one-third that amount, and compared to spending on clothing of 6% of … [visit site to read more]

What Happened To Jobs? Posted: 20 Mar 2010 10:00 AM PDT Reuters reports today that January unemployment rates increased in 363 US metro areas… and nearly 200 of them had rates exceeding 10 percent. The unemployment freight train has perhaps found the brakes, but it's nowhere near coming to a … [visit site to read more]

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