Nassim Taleb, author of “The Black Swan” and a New York University professor, discusses recent bank earnings and their plague on the global economy as well as his concerns about the OWS movement. Watch the Bloomberg interview here.
Banks are staging a mid-day rally today, this chart highlights near-term resistance.
Source: Cory Venable CMT, Venable Park Investment Counsel Inc.
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Notwithstanding Talebs statement about hedge funds NOT getting bailed out,I guess he forgot about LTCM, he has pretty much nailed it. The simplicity of genius.
Too bad the over enthusiastic interviewer did not allow him to finish many of his thoughts before jumping in. Far to common in that egocentric world.
Thank you for including Cory’s charts. between his charts and your analysis and information you provide on this blog it has helped me beyond words with my own self directed investing.
There are too many institutional advisors getting the press these days giving information not in the best interests of their clients. They too often say Buy and Hold, or Buy dividend stocks or we have reached a bottom, yet when one looks at facts and Cory’s charts are showing this we are on a downtrend, as you state we should preserve capital and wait for the right opportunity to add risk investments. It is better to wait any buy stock x at $15 instead of buying stock x at today’s $30 price because last week it was at $45. Sure I miss out on a $1 dividend but I also miss out on the next $15 drop in price.
Thank You Danielle and Cory, the information on this site it is extremely helpful. I also really enjoyed reading your book.