The stock market looks due for a rally but it isn’t rallying. The government-bond markets, especially the U.S. one, look due for a break but they’re holding firm. The situation feels a bit like it did in the second half of 2000, when a lack of political leadership, combined with the uncertainty of the presidential election, contributed heavily to the stock market’s then-seemingly relentless decline. Time will tell if the comparison between then and now is apt, but I wish our government would take action soon against Iraq.
Economics & Finance
Charity (Or Is It Competence?) Begins At Home
Professor Bunyip scores some excellent hits, en passant, on a well-known practitioner of the trendy stupidity that is known as “socially responsible investing.” The Prof. is harsh on the lady (there are so many other mediocre fund managers to pick on!), but his points are well taken. When evaluating uses for your money, look at results and not merely stated intentions. If the goals and realities don’t match, look elsewhere. And beware attractive do-gooders who take a big cut for themselves.