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The Best of What They Said and I Read week ending 9/17/2017

Short excerpts from articles I found interesting.

I may not agree with the author and the following material is not intended as investment advice.

 

Barron’s – September 16, 2017 – Dow Hits Record Highs Four Days in a Row – by Avi Salzman

  • “…Not even vicious weather, an unpredictable dictator, or $1,000 iPhones could throw the market off its game last week, and that led to four straight days of records for the Dow Jones Industrial Average.…The Dow spiked 471 points, or 2.2%, to close the week at 22,268.34. The Standard & Poor’s 500 index rose 39 points, or 1.6%, to 2500.23, another new record. The Nasdaq Composite gained 88 points, or 1.4%, to 6448.47.”
  • “…Global fund managers are trading out of U.S. stocks, reducing their holdings to the lowest level since 2007, according to a survey released last week by Bank of America So where are they putting their money? They’re more overweight emerging market stocks than they have been in seven years. They have a higher-than-average allocation to cash, at 4.8%, and more have taken out protection against a market drop than during any month in the past 14.  By market logic, of course, that bearishness about U.S. stocks is a bullish sign, because there are more opportunities for positive surprises.”
  • “…Most of the week’s negative surprises occurred outside the stock market. Bitcoin plunged more than 10% as China ordered exchanges to stop allowing people to trade the cryptocurrency, and Jamie Dimon called Bitcoin a fraud, pledging to fire any trader “stupid” enough to trade it. The fund managers surveyed by Bank of America said Bitcoin was the most crowded trade in the market, though maybe not after last week.”

Blues Zone – One Thing You Can Do Now to Boost Happiness  – September 13, 2017 by Gretchen Rubin

  • “…The quest for happiness is a universal human quest—and people are always searching for it in money, love, or the perfect dress size. It seems we’re still looking in all the wrong places—only one in three Americans say they’re happy, and we frequently score very low on happiness scales compared to other countries.”
  • “…What have you learned about the relationship between happiness and health?  Health is kind of like money in that it’s easy to take it for granted, and it’s a much more obvious in the negative. When you don’t have your health, you are very aware of how it can drag down your happiness and when you do, it’s hard to remember how important it is. Trying to have some way to remind yourself to be grateful is so helpful. Being pain free, being independent and energetic, not thinking about your body, is such a tremendous boon and every day we should be grateful for it, but it’s easy to take that for granted.”
  • “...Is there anything people can do to stack the deck in favor of happiness that works for almost all people?  Relationships. Ancient philosophers and modern scientists would agree that relationships are a key, and maybe the key, to happiness.   Anything that broadens your relationships or deepens your relationships is going to make you happier.”

U.S. Global Investors – September 15, 2017 – Investor Alert – by Frank Holmes

  • “…Laszlo Birinyi, the investing legend, has nailed the eight-year bull market at every turn, and sees stocks continuing to rise going forward. He thinks stock bears are ignoring the high levels of cash floating around the market right now.”
  • “…Crude oil was the best performing major commodity this week rising 5.05 percent. The commodity breached technical resistance levels after the International Energy Agency (IEA) suggested the global demand outlook may be brighter than initially expected…”

 


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