Category Archives: Blitzer’s Insights

What Me Worry?

U.S. Stocks are up by about a quarter since the start of the year with 472 of the 500 stocks in the S&P 500 up since December 31st, 2012.  IPOs are getting attention following the successful launch of Twitter.  And more commentators and gurus are arguing for further gains, a coming collapse or both. Should Read more […]

QE and Asset Prices

In an earlier post on this blog, Bluford Putnam (of the CME Group) correctly points out that the Fed’s much-discussed three rounds of Quantitative Easing (QE 1-2-3) haven’t created either jobs or inflation.  While job growth has picked up somewhat this year, both payroll employment and the unemployment rate have not recovered to their pre-crisis Read more […]

Stocks and Houses

When tech stocks collapsed in 2000 and the market fell 50%, investors put their faith in houses:  maybe too much faith.  Then house prices collapsed from mid-2006 as mortgage excesses took down the economy. Stocks fell 50% again.  The subsequent recovery in the economy, houses and stocks disappointed at least two of the three: the Read more […]

View from Down Under

The world view in Sydney is quite different than in New York.  No one is worried or disgusted with the US government’s recent shutdown or debt ceiling follies – in fact only a few even comment about it. Likewise much of the anxiety American analysts suffer about the unemployment rate, weak GDP growth and “policy Read more […]

What Me Worry

While the stock market was up sharply on Thursday and rose a bit more on Friday amidst rumors of some talks in Washington,  not everyone thinks we’re  out of the woods.  In fact, other parts of the financial system are taking precautions in case the worst – a government default – happens.  Hopefully both these Read more […]

Welcome Janet Yellen

Today’s nomination by President Obama of Janet Yellen as the next chairman of the Federal Reserve is very welcome.  Yellen’s knowledge of the Fed, the banking system and the economy is second to none.  No one, except possibly Ben Bernanke, has more experience on the job. While Janet Yellen’s nomination is very likely to be Read more […]

Less [Information] May be More…

For most investors and many economists the first Friday of the month means the Employment Report at 8:30 AM eastern time.   The much-watched first official bit of economic data for the month just ended sets the tone for the markets and for the weekend investment advice columns.   This weekend the economic-investing blogosphere had little to Read more […]

Real Data on Healthcare

One of the biggest things missing from the never ending healthcare debate is hard data.  “Man-on-the-street” interviews reveal that some people don’t realize that Obamacare, the Patient Protection and Affordable Care Act and the ACA are all one and the same.  The absence of factual data is most crucial when examining the cost of healthcare.  Read more […]

The Shutdown and The Debt Ceiling

As of the market close on Monday, Congress is still pushing bills back and forth from one house to the other and a government shutdown looks like the odds-on bet.  The S&P 500 rebounded part way from a sharp drop at the open but has done little since mid-morning.  If the Credit Default Swap market Read more […]

Active vs Passive Investing – Looking at 2013 Mid-Year Results

The past 12 months ending June 30 saw an impressive rally in the domestic equity markets with S&P 500, S&P MidCap 400 and S&P SmallCap 600 posting double digit gains.  During that period, the majority of active managers in all the categories except small cap growth underperformed their benchmarks.  The SPIVA 2013 mid-year report shows Read more […]