Wells Fargo is a classic case study of the poor transparency and government interference model of economic policy. Poor transparency is polite language for “lying” or “mentiroso”. Or perhaps we could just call it painting lip stick on pigs. Whatever, this “approach” now seems to be the accepted conventional wisdom. WFC stock has more...
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Posts Tagged ‘ Conventional Wisdom ’
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Actionable Mentiroso
The article available for full viewing: Actionable Death By A Thousand Cuts
Retail same store sales are in for May, and 76% of the reports missed expectation. Typical of the pattern I see emerging, oil popped up another $2.50.  This is effectively death by a thousand cuts. As mentioned in the podcast this is what I expect the markets to start looking like going forward.The debate...
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Actionable Hard Data
The market soared on a survey indicating that consumer confidence has rebounded. The conventional wisdom is getting increasingly delusional. It seems obvious that the economy is going to have to start delivering to accommodate this expectation. Presumably this is function of the stock market rally and green shoots talk. As for me I am...
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Actionable Inflation Genie Out of the Bottle?
The conventional wisdom (CW) seems to be moving towards making a staginflation call. I don’t think there is now much doubt that the surviving Risklove hedge funds are back in the game gearing this trade to try and “show their worth and manhood” to clients. Indeed many commodities (especially of late) have popped sharply...
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Actionable: The Conventional Wisdom Du Jour
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The conventional wisdom (CW) nowadays holds that even modestly leveraged balanced sheets are bad. For example, James Cramer is pushing this CW line continually now, and I would say late in the day. Note that even as he pans these companies, he admits that the amounts of debt would be no big deal in...
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Some Challenges to the Conventional Wisdom
Good, thoughtful challenges to the conventional wisdom (CW) are rare. Of late I have spotted a few that are worth passing on. In fact I would suggest readers write these on the chalkboard one hundred times.
The first is an article from Curtis Mewbourne of Pimco. My key takeaway is the differentiating he has made...
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Obie Drinks the Kool Aid, What Would Shakespeare Say?
I like Obie, but he has drunk the Kool Aid. We are doomed. He’s listening to the advice of those very same world renowned egonomists who never saw the current mess coming. How could those who never saw it coming in the first place, and didn’t recognize it after it had already begun have...
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