Margin Debt Hits an All-Time High . . . So What?

A Market Indicator That Predicts Nothing Its predictive value is minimal. Bloomberg, April 29, 2015         Every now...

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Don’t Let Bias Corrupt Your Analysis

Those of you who over the many years have followed some of the thoughts and observations I jot down each morning may have noticed several...

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S&P 500’s Dubious Market-Cap Weighted Anniversary

  click for larger graphic     The Standard & Poor’s 500 Index is market-capitalization weighted, meaning that...

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Apple Earnings Show Why You Can’t Trust Pundits

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Apple’s Q Reveals the Perils of Earnings Predictions

Apple’s first-quarter earnings were blow-out numbers. Far beyond what anyone forecast, the figures show Apple arguably had the...

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Why Don’t We Hold Pundits Accountable?

Five years ago, Arthur Laffer — creator of the Laffer curve and a member of President Ronald Reagan’s Economic Policy...

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Why Does -20% = Bear Market?

• Battered by Oil, Dow Touches Bear Territory (New York Times) • Dow Hits Bear-Market Territory (Wall Street Journal) • Stocks Near...

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