Just a bunch of things I’ve been scratching my head about in a day full of noise and running around:
… Why do guests go on financial TV shows only to say that retail investors shouldn’t do anything in response to all good or bad news on financial TV? What’s the point? People who aren’t interested in the market’s day-to-day movements aren’t watching live financial television anyway, by definition.
… How did the ISM report leak today? Did the ISM folks leak their report because they knew it leaked, or because they thought it leaked? If the latter, did they make themselves the leakers?
… How is that a taxi driver in New York doesn’t know where the Waldorf Astoria is, and confuses it with Astoria Boulevard on the way to La Guardia? How is that possible?
… From a brief survey I conducted today of CNBC on-air personalities, they only get two kinds of email: Political rants, and good/bad hair critiques. As one on-air person put it to me, there’s a psychology study in there somewhere.
… Am I the only one who thought the ISM report today was good bad news? It was bad because it much weaker than expected, but it was good because only someone in soul-crushing denial could maintain a posture of saying we aren’t in recession. We can finally stop arguing about the current economic situation, which is crummy, and look ahead to what the Fed cuts’ impacts will be 6-12 months out.