1.6% Was Too High?

This may be the case as covered on Nouriel Roubini’s blog. This doesn’t look like spin on his part. There appears to be a big error with how much autos should have contributed to the number. Read the post, it included an entire Bloomberg article about this. On a side note, as I publish this, Blogger has moved all of my sidebar links to the bottom of the page into the main body of the blog. It did this on its own without my making any changes. You may be aware that Blogger has been having a lot of problems lately,...

Two Sales

This week I placed sell orders on two stocks not widely held by clients but instead owned for clients with higher tolerances for volatility. Both have moved up a lot lately so it made sense to take action. One stock is Telenor (TELN) the Norwegian phone company. It is up about $7 in two days. I sold it this morning at around $47.20. This is not the type of stock where I think a stop order works very well. I have owned the stock for clients for close to two years. The stock tends to not do much for long periods and then hop around furiously like it is doing this week. I would not be shocked to see it open with a $3 gap in either direction, which is what it has done for the last two days. Hence my not using a stop order. I have a stop order in on another foreign stock. Since the order is still open I’ll hold off on the name for now. This second stock does not hop around $3 at a time and so I did use a stop order on this one. Either trade is open to second guessing but I for one do not know what the stock will do next. My hope would be to either buy them back cheaper or buy them back in six months at the price they are now; I would be happy with either outcome. Of course the second one has not sold...

Perspective

This picture is from the Esperanza Fire in California. Four firefighters died in the fire. In my limited experience fighting fires (about 15 fires plus a couple of prescribed burns) I have not encountered a fire anything like what these guys are dealing with. This gives a little bit of perspective, to me anyway, about things. Things have to go very bad very quickly for firefighters to die in a...