Bill Gross capitulated, saying globalization is key.
Higher asset prices, higher inflation, and higher interest rates to come, but not without a US cyclical downturn first.
http://www.pimco.com...y-June 2007.htm
"da bomb" joins da Cheif
Started by
SandStorm
, May 17 2007 01:39 PM
6 replies to this topic
#2
raleigh
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Posted 17 May 2007 - 02:06 PM
in 2002 or 2003, Gross said Dow would go to 5000.
#3
VermeerUK
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Posted 17 May 2007 - 02:13 PM
I saw the news this morning
That Sir Alan Greenspan is to be employed by Mr Bond(Bill) as a "consultant" over at 'Pimco'.
Regards.V
#4
da_cheif
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Posted 17 May 2007 - 02:29 PM
Bill Gross capitulated, saying globalization is key.
Higher asset prices, higher inflation, and higher interest rates to come, but not without a US cyclical downturn first.
http://www.pimco.com...y-June 2007.htm
da bears as promised are falling over one by one like a buncha cement flamingoes.......
its amazing.....all these over paid over hyped analysts dont know ******** eh.......howcum....why???....because they aint gotta choo store widda 900 numba...
Edited by da_cheif, 17 May 2007 - 02:34 PM.
#5
SandStorm
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Posted 17 May 2007 - 02:34 PM
in 2002 or 2003, Gross said Dow would go to 5000.
Exactly. Their bond funds have been under-performing in recent years due to skewed bets on unsustainable global imbalance and US-led growth. Now they think the music will just continue.
Humm . . . I wonder what Alan said to them.
#6
SandStorm
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Posted 17 May 2007 - 02:54 PM
Bill Gross capitulated, saying globalization is key.
Higher asset prices, higher inflation, and higher interest rates to come, but not without a US cyclical downturn first.
http://www.pimco.com...y-June 2007.htm
da bears as promised are falling over one by one like a buncha cement flamingoes.......
its amazing.....all these over paid over hyped analysts dont know ******** eh.......howcum....why???....because they aint gotta choo store widda 900 numba...
What's his face, I can't remember, but years back there was another icon name on Wall Street who capitulated. I believe he was the first in the series. Caused quite a stir on CNBC but he was right the market just kept on going.
Better late than sorry.
#7
jjc
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Posted 17 May 2007 - 06:43 PM
The good dr. "Second Handers":
http://www.dailyspec...rdpress/?p=1566
Second Handers, from Brett Steenbarger
May 17, 2007 |
I wanted to comment on how some old men grow old gracefully whilst others grow old grotesquely, and to look at how this effects their take on the markets. I believe that those who age worse often exhibit worse trading symptoms!
Ayn Rand used to talk of second-handers: those who derive their self esteem from the perceptions of others, not from objective achievements.One virulent form of second-handedness masquerades as virtue: the need to be needed. I suspect it's behind the overly chivalrous and boastful demeanor, but also behind the pessimism.
The doomsayer needs followers who feel endangered and vulnerable. The forecasts of doom make the prophet needed to get through the pending calamity. No one needs a savior if the forecast is for sunny times ahead. By undercutting the sense of security of others, the doomsayer carves out a niche for himself: I will get you through the market panic, the economic collapse, etc. The same dynamic is at work with the seemingly solicitous and chivalrous man who wants his woman dependent upon him.
I'm thinking of a couple I once saw in counseling. He refused to let her work outside the home, insisting that he must be the breadwinner. She was bright and talented and, now that the children were older, wanted to work. She took up a hobby (quilting) and became quite expert at it. Eventually her quilts became collector items and she was a hot item on the art festival circuit. He was increasingly threatened by her success and tried to derail it by belittling its importance — all the while maintaining his love for her and his willingness to provide for her.
He needed to be needed: his greatest threat was an independent woman. The doomsayer similarly needs to be needed. The confident, optimistic investor is his greatest threat. To become needed, they must make others needy. Such is their benevolence.
She divorced him, by the way, and went on to become a successful instructor of quilting and crafts, owning her own business.
And 20 years after 1987, we stand at new highs and the doomsayers continue to beat their drum. Odd how we excoriate those who encouraged people to buy stock in 2000, but say nothing about those who counseled against equity ownership for the last 10,000 Dow points. If a physician sickened his patients in order to have a steady stream of revenues, no one would hesitate to call it malpractice. But what of investment advisors who fill their clients with fear in order to sell them services and seminars?
"You need not examine a folly", Rand once wrote; "you merely need to identify what it accomplishes". Pessimism and negativity create dependency and a psychological crippling. The need to be needed is a need to undercut the certainty and security of others. That's why it's a "symptom of something worse".
----
Victor Niederhoffer, has often sited Greenspan as having "Old Man's Disease". The Good Dr filling
in some missing details of how one might acquire such a disease.
I am, on the other hand, much more cynical; I believe the shouting of doom, while not a large overstatement, is meant to persuade and not necessarily inform.
http://www.dailyspec...rdpress/?p=1566
Second Handers, from Brett Steenbarger
May 17, 2007 |
I wanted to comment on how some old men grow old gracefully whilst others grow old grotesquely, and to look at how this effects their take on the markets. I believe that those who age worse often exhibit worse trading symptoms!
Ayn Rand used to talk of second-handers: those who derive their self esteem from the perceptions of others, not from objective achievements.One virulent form of second-handedness masquerades as virtue: the need to be needed. I suspect it's behind the overly chivalrous and boastful demeanor, but also behind the pessimism.
The doomsayer needs followers who feel endangered and vulnerable. The forecasts of doom make the prophet needed to get through the pending calamity. No one needs a savior if the forecast is for sunny times ahead. By undercutting the sense of security of others, the doomsayer carves out a niche for himself: I will get you through the market panic, the economic collapse, etc. The same dynamic is at work with the seemingly solicitous and chivalrous man who wants his woman dependent upon him.
I'm thinking of a couple I once saw in counseling. He refused to let her work outside the home, insisting that he must be the breadwinner. She was bright and talented and, now that the children were older, wanted to work. She took up a hobby (quilting) and became quite expert at it. Eventually her quilts became collector items and she was a hot item on the art festival circuit. He was increasingly threatened by her success and tried to derail it by belittling its importance — all the while maintaining his love for her and his willingness to provide for her.
He needed to be needed: his greatest threat was an independent woman. The doomsayer similarly needs to be needed. The confident, optimistic investor is his greatest threat. To become needed, they must make others needy. Such is their benevolence.
She divorced him, by the way, and went on to become a successful instructor of quilting and crafts, owning her own business.
And 20 years after 1987, we stand at new highs and the doomsayers continue to beat their drum. Odd how we excoriate those who encouraged people to buy stock in 2000, but say nothing about those who counseled against equity ownership for the last 10,000 Dow points. If a physician sickened his patients in order to have a steady stream of revenues, no one would hesitate to call it malpractice. But what of investment advisors who fill their clients with fear in order to sell them services and seminars?
"You need not examine a folly", Rand once wrote; "you merely need to identify what it accomplishes". Pessimism and negativity create dependency and a psychological crippling. The need to be needed is a need to undercut the certainty and security of others. That's why it's a "symptom of something worse".
----
Victor Niederhoffer, has often sited Greenspan as having "Old Man's Disease". The Good Dr filling
in some missing details of how one might acquire such a disease.
I am, on the other hand, much more cynical; I believe the shouting of doom, while not a large overstatement, is meant to persuade and not necessarily inform.
