As in, Dow "Carnage" Jones, an old friend who made a glorious cameo today.
When I heard "irrationally exuberant" Nobel Prize winner Robert Shiller confess, "I'm still investing in the stock market," I knew something like this was coming although the healthy 300-point drop was still a bit of a surprise. Indeed, Shiller is a leader of indexes, if not men precisely, and when the leader roars, we mice press an ear to the cheese.
Earlier today, I kept squinting at the public screen to see if I was reading the lower right corner correctly, but, of course, that was mainly because my eyes are so poor from reading, writing, and grading papers. Anyway, I suspect we will see some more wacky new highs this year, but that's based on no concrete evidence I have access to as of this writing. And, it's not investment advice either. Haha. But it's not.
Maybe in closing I should note that at a 16K+ opening bell, today's 318-point drop was of less than 2 percent. That's bound to make everyone feel better about their lavish weekend plans.
Alex Kudera’s award-winning novel, Fight for Your Long Day (Atticus Books), was drafted in a walk-in closet during a summer in Seoul, South Korea. Auggie’s Revenge (Beating Windward Press) is his second novel. His numerous short stories include “Frade Killed Ellen” (Dutch Kills Press), “Bombing from Above” (Heavy Feather Review), and “A Thanksgiving” (Eclectica Magazine).
Showing posts with label Robert J. Shiller. Show all posts
Showing posts with label Robert J. Shiller. Show all posts
Friday, January 24, 2014
Monday, October 14, 2013
nobel exuberance
"Irrational exuberance" Robert J. Shiller winning the Nobel for Economics is a contrarian indicator that gets us to DOW 25,000 by the end of the current Presidential term, but because the correlation between rising stock prices and jobs growth is far from guaranteed in near-term America, this won't necessarily help most of us.
(This is not investment advice or a recommendation to lose money so as to indulge in freedom as an expression of "nothin' left to lose"; furthermore, it should not be read as a "tell" indicating a suicidal impulse on the part of the author or any recommendation to readers to commit such. You're welcome to go ask Alice and get back to me on all this.)
(This is not investment advice or a recommendation to lose money so as to indulge in freedom as an expression of "nothin' left to lose"; furthermore, it should not be read as a "tell" indicating a suicidal impulse on the part of the author or any recommendation to readers to commit such. You're welcome to go ask Alice and get back to me on all this.)
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