JBL: A Market of Stocks

"It's a stock-picker's market" will be the cry this week on financial television. Hello? It is always a stock picker's market. Too often this phrase is used to avoid the question of where the market is headed and what sectors will be successful; it is a politic way of saying, "I don't know."

Still, no stock exists in a vacuum. Macro events affect where to invest and stay invested. It's important to realize the macro events that affect the equity markets.

Iran, for example, is a problem for world oil markets and the world in general; it has been for a long time. We created Mr. Chavez in Venezuela due to having no real energy plan (from both sides of the aisle), and now we are dealing with communism in South America. Terror will be with us, unfortunately, for some time. Russia's dispute with Ukraine over natural gas prices raised concern but was really about reversing former Soviet energy policies that are no longer valid. Finally, China and India are growing like crazy. ...