“There are no new eras-excesses are never permanent.” -BOB FARRELL, famed market technician POINTS TO PONDER 1. The economic forecasting firm ECRI, which has built one of the most accurate predictive records in the field, is still calling for a US recession. However, this view is… Read More

“Be patient and wait for markets to come to you.  Patience is a position, too.” -JOHN MAULDIN , one of America’s most popular financial newsletter authors Will the “Curse of the Cover Story” strike again?  Sometimes a magazine cover is worth a thousand… Read More

“Gold to me is not a commodity. It’s money.” -JIM GRANT, author of Grant’s Interest Rate Observer, in a CNBC feature interview this week with Maria Bartiromo. POINTS TO PONDER 1.  Although the US mortgage market is no longer a systemic threat, student… Read More

“The higher the stock market advances, the more reason there is to mistrust its future action.  Hence, a large advance…is basically a sign for caution and not a reason for confidence.” -BEN GRAHAM; GENERALLY CONSIDERED THE FATHER OF SECURITY ANALYSIS AND CREATOR OF THE GRAHAM-DODD… Read More

“The time to repair the roof is when the sun is shining.” -JOHN F. KENNEDY Special message:  In the March 15th EVA, I emphasized that insider selling was running at an extreme rate.  While this is true, the day after that edition went… Read More

“It’s not what you don’t know that kills you, it’s what you know for sure that ain’t true.” -MARK TWAIN Often unknowingly, we perform risk-reward calculations in our daily lives. Something as basic as eating dinner at a restaurant involves risk, though you may not… Read More

“You are neither right nor wrong because the crowd disagrees with you.  You are right because your data and reasoning are right.” -BEN GRAHAM, WARREN BUFFET’S STOCK MARKET MENTOR In this latest issue of Points to Ponder, we are altering our usual format a bit… Read More

  “Everybody that manages money is waiting to catch the signal that the Fed will reverse course.  I think they’re on a hair trigger.  So I think the Fed will try to give little signals…but, in the end, there are an awful lot of people that want to… Read More

“When I find myself on the side of the majority, I know it’s time to find a new place to side.”  -MARK TWAIN 1.  Post-financial crisis market rallies have tended to run out of steam when Market Vane’s Bullish Consensus Stock Index has hit current… Read More

“Forget whether one is bullish or bearish, hawkish or dovish, a Central Bank with no credibility is dangerous.”  -MIKE O’ROURKE, author of The Closing Print POINTS TO PONDER 1.  Four and a half years ago, during the worst bear market since the 1930s,… Read More