Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

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Everything that appears on this blog is the copyrighted property of somebody. Often, but not always, that somebody is me. For things that are not mine, I either have obtained permission, or claim fair use. Feel free to quote me, but attribute, please. My photos and poetry are dear to my heart, and may not be used without permission. Ditto, my other intellectual property, such as charts and graphs. I'm probably willing to share. Let's talk. Violators will be damned for all eternity to the circle of hell populated by Rosanne Barr, Mrs Miller [look her up], and trombonists who are unable play in tune. You cannot possibly imagine the agony. If you have a question, email me: jazzbumpa@gmail.com. I'll answer when I feel like it. Cheers!

Monday, June 22, 2009

Taking Stock

Anyone who has listened to me with half an ear any time in recent years knows I'm skeptical to the point of cynicism about the stock market.

Let's just say, there is a time to buy, and a time to sell.

Smart money might get it right. Dumb money usually gets it wrong. The DJIA, as of this writing is down about 2% on the day, but that is beside the point. Insiders have sold into this recent rally. Think what you will about corporate executives. They are more likely than anyone else to be informed, and that's about as good as being smart. They haven't sold like this since 2007. Let's see -- what happenend then?

And, who do you suppose has been buying . . .

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