Shlitt! Rip! Crinkle! Shlitt! What are those sounds? Millions of unopened monthly brokerage statements, heaped in a pile, finally being sifted and opened. Just a guess, but with stocks now up more than 40% from the March lows, lots of people now have the courage to tackle all that unopened mail . . .Read More
No “Run on the Banks?” Define, “Run”It’s true that depositors haven’t raced to withdraw their money from the nation’s — indeed, the world’s — largest, so-called “money-center” banks the last 18 months or so (basically, the ones considered “too-big-to-fail”). That’s largely a credit, literally, to deposit insurance — administered in the U.S. by the FDIC....Read More
Out of Treasuries, Into Stocks? “Obama Warns Trillion-Dollar Deficit Potential”—The New York Times (Jan. 7, 2009) “Suddenly, a Markets Turnaround”—The Wall Street Journal (Jan. 7, 2009) The stock market is famously forward-looking, so it’s certainly possible that the rally the last month or so — up 10% to 20% from its lows, depending on the...Read More
