Monthly Archives: May 2009

Market participants tend to talk about the stock market as “always” bottoming before the economy. Such bullish arguments presently forecast the economic bottom to trough this fall and therefore argue that March 2009 was “the” stock market bottom this cycle, … Continue reading →

Day three is now underway in this correction. Corrections are important to reign in animal spirits. Some faulty logic has been widely espoused along the following themes: -a hope that less bad economic data means “green shoots” as in the … Continue reading →

It is a common human story; when cash flow is strong and leverage is expanding, most people spend lots on stuff. Then when a downturn hits, few are ready with sufficient liquidity to weather the storm. This clip reminds us … Continue reading →