HE’S NO ONE’S IDEA OF A PERMA-BULL–AND HE’S BULLISH
Holy cow. Even James Altucher is bullish on stocks
Now is the time to buy. When there is blood in the streets. I follow about 30 stocks on my screen. They are all red. Statistically, when 10 stocks are down for every one up, the market tends to be higher one week later. Here’s more facts to ponder:
– The debt ceiling crisis has passed.
– 75% of companies beat earnings estimates.
– Household debt obligations (rent, credit card bills, car payments, etc., divided by income) are at lows since 1992.
– Manufacturing and service sectors are still expanding.
– GDP growth is still expanding. . . .
And so on. . . .Little of this can be argued with, by the way. His complaints about the cluelessness of the media also gratifying. . . .
2 Responses to “HE’S NO ONE’S IDEA OF A PERMA-BULL–AND HE’S BULLISH”
The problem with the statements concerning growth is the proper use of the right tense. “Manufacturing and service sectors WERE expanding”. “GDP growth WAS expanding”. Al those so-called analysts and money managers look at the PAST and not at the FUTURE that looks completely different. Once you take out all the liquidity pumped into the system you will get earnings reduction and likely GDP contraction.
Debt ceiling crisis averted? Phew! Hopefully, they can resolve NFL strike next.
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