Category Archives: Uncategorized

The stock market is unhappy about Obama’s victory. European markets fell 2% yesterday and are down another 3% as of 5:00 a.m. Eastern. The U.S. dropped 5% yesterday, its worst post-Presidential-election-day decline in history. Japan fell 6.5% overnight. Some say this is all in reaction to yesterday’s report from The Institute for Supply Management that […]

Asian stocks rose, but European stocks fell after Obama won the election last night. Reasonable people disagree on whether Democrats or Republicans are better for stocks. Most data support Democrats, but I’ve read convincing arguments that most of the supposed Democratic outperformance comes from a coincidence in timing. For instance, Obama will be in office […]

NOTE: The following was adapted from last Sunday’s note to Kelly Letter subscribers. All we need remember about polls is that a year ago they told us the two candidates would be Rudy Giuliani and Hillary Clinton. We don’t know who will win today. We do know, however, what the pundits will tell us with […]

I’ve received notes from readers asking if I’m bailing out of the U.S. dollar now that the amero is on the way. Huh? Turns out a story is making its way around the internet. A conservative radio host named Hal Turner, whose show ended on July 30 due to what he claims was extreme pressure […]

Happy Halloween! If you survive tonight, you might spend time this weekend pondering what stocks are bobbing in the bargain bin after a nasty October. Can’t think of a better holiday to end the month than one centered on fear. There are many ways to define bargains in the stock market. The traditional valuation ratios […]