Partying In Reykjavik

Well it has been a while since either one of us partied. Our flight here was a freakshow beyond description. Driving in from the airport I was struck by the number of cranes here, similar to the way some people count cranes in China. We have been here just a few minutes and already I can tell there is a lot happening. We had to deal with rush hour traffic which I took as an encouraging anecdote. I have not wavered from my small investment here but I have not exposed client money here either. I am encouraged by the market action I see. I have been very clear about being concerned and that I would be delighted to lag a huge rally and be dead wrong, sentiment-wise. Someone left a comment wondering about foreign sentiment to the US and its role in the various wars all over the mid east. While I cannot know in absolute terms, it seems like people are very skeptical about the every aspect of US politics, politicians and so on. I do not think American are disliked per se but I have seen many things that make fun of President Bush, grain of salt would be that this is from my experience in Internet cafes like the one I am in...

Off To Iceland

We are catching a flight to Iceland around 2pm (90 minutes before the open) so I won’t be able to check in until after the open. It looks like Asia was mixed with Australia standing out to the down side and Europe has not opened yet. I’ll have more...

Good Time For Vacation

The market seems to be mellowed out today which is nice considering that I am away and can only check in here and there. If you have been uncomfortable with your portfolio this might be a good time to make changes. This is not my saying be more bearish or more bullish just that while the market is temporarily calmed down it might be a good time to make whatever changes you think you need. Whether you need to own more stock or less is up to you. I feel fine, personally, with where I have things currently. Exposure is reduced as the market, for now, does not seem to be able to take back its 200 DMA. This may change into the close for all I know but for now this makes sense to me. As I mentioned a while back on big up days I will lag a little, that has generally been the case except for the day that Yahoo blew up. Gotta run, sorry for the typos but my wife is...

Great Comments

Thanks for all the great comments and tips about traveling. We have had a few very bearish comments left which is fine. Some people are more comfortable taking extreme action before truly bad things happen. this is not my idea of the best way to go but to each his own. Please keep in mind that that all we are is more volatile. The move down has been slight. I have have also had some nice comments about the ETF analysis done here, thanks. I plan to delve into Wisdomtree soon enough but I would like to get a better feel for hte funds but clearly the yields are compelling as is the back tested performance. To update on my somewhat bearish posture, as expected I lage a little in both directions (up and down) which makes sense to me for now as the market cannot re take its 200 DMA. Sorry for any typos I am holding up some shop keepers in Sigtuna. More...

Philosophical Difference

Before today’s post; we got some fantastic views and photos today in an area of Stockholm known as Gamla Stan. I found the following links, one from Marketwatch about too many ETFs that I think is a retread of an older article and another one from ETF Investor questioning the utility of currency ETFs. Weigh all of these issues for yourself. Don’t listen to me or someone else, you will know if the various new products are right for you or nöt (he he different keyboard!). I stumbled across a press release on Yahoo Finance from a stock picking site that said ETFs would now be included in its research and in its model portfolio selections. I tried to sign up for the free trial to see what their reports are like but despite being free they wanted my credit card number, I passed. As I read the press release I had a general thought about picking ETFs that is bigger than whatever this site may be looking to do. “What ETF would you buy right now” is the mindset of too many people, IMO. This leads to chasing returns and makes all of the naysayers of sector funds exactly right when they caution about how dangerous they can be. In a way, trying to game a single country or a sector for a couple of weeks in anticipation of an event can be more difficult than gaming a stock. I’ll use an example that is completely made up. Let’s say an investor thinks that Conoco Philips’ earnings will lift the entire energy sector so he buys the Energy...