Juggling Dynamite

There are so many people touting anti-regulation nonsense today in the name of “free capitalism.”  Clearly they have forgotten the founding tenants [or never actually studied them, or have conveniently warped the ideas to fit with their own personal conflicts of interest].  But every worthwhile society has had rules.  Even sporting events need impartial referees to enforce fair play.  And when an elite group of politicians, bankers and business leaders want to ignore common sense, overturn and break long-standing prudent rules and laws so that they can take everything and not be held accountable, then they should not be surprised when other groups start protesting and rejecting the laws too.  As always, this door swings both ways.  For an excellent overview and refresher course in free market principles see:  Real free market capitalists demand that financial fraud be prosecuted.

I am in Vancouver today to speak at Michael Campbell”s 1 day “Money Talks Insiders” conference.  I do love Vancouver and I was able to bring my son with me which is a huge gift.  I will be doing a keynote at 9:25 [then hopefully Spence and I will be biking through Stanley Park for a few hours] then back for an interview at 3 and the closing panel at 3:50.  There is a fee to attend or purchase on-line viewing of the event after the show (see ticket options).

A look at the under-performance of US and Canadian financial shares year to date and what it may be signalling for the overall stock market:

Source: Cory Venable, CMT, Venable Park Investment Counsel Inc

Also see this important article:  Buy and Hold is dead and gone (thanks Dazzo)