Good Saturday morning. Forget what the calendar says, Old Man Winter's icy hands still grip the Northeast. No worries, though. Relief seems to be on the way, as warmer weather is expected this week.No relief for either the bulls or the bears in the market this week. Trendless, up-down-up action seems to be mainly rumor driven, with oil prices and Fed splices driving every other tick. Something for everyone? More like nothing for anyone. This too, shall pass. While we eagerly await the first Fed meeting of the Bernanke era, hows 'bout some reading to keep y'all occupied 'til Tuesday?
¿ Did Ben use those four little words, "It's different this time?" No, but according to Barron's, he came pretty damned close. (If no Barron's sub, go here.)That's all from this end, where the latest Whose Line is it Anyway? may very well be the funniest show since MXC.
¿ The housing data seemed to throw everyone for a loop. A few things to note: After five down months, a pop in existing home sales is merely a counter-trend bounce; new home sales are notoriously volatile; and all of this matters less than the possibility that we're at the beginning of the housing cycle where houses are repriced downward. ¿ Interesting discussion by a value investor on the advantages of technical analysis. ¿ Jeremy Grantham, who runs $120 billion, talks markets with Fortune in Inside The Mind of a Legend. ¿ Computers and the Internet? That's so last century. MIT's Technology Review magazine identifies 10 new emerging technologies that may change the world. The list runs from nuclear reprogramming to cognitive radio. Luckily, it's way too early to worry about a bubble in nanobiomechanics stocks. ¿ I am not happy about the relative outperformance of low quality stocks. ¿ As "Mad Money" gets more and more popular, a cottage industry has sprung up critiquing and praising Jim Cramer. Some measures show him outperforming, while others point to underperformance:Sad Money? Cramer's Stock-Picking Prowess In QuestionNote that while Kass, Shark and I have all weighed in on what this means to the market, the new criticism seems almost "Cramer obsessed." ¿ The powers that be in the media business are not sure how to treat upstart YouTube. ¿ It's not just The Wall Street Journal: The New York Times is blogging too. ¿ I wrote the producers of Fox News' Bulls & Bears last week and suggested they needed to change the program's name to Bulls & Bulls. The hype last week was so over-the-top absurd that even the Daily Show mocked it. ¿ As a longtime Mac user and fan -- but no longer an Apple shareholder -- allow me to start a minor firestorm: Apple's chart looks like hell. The stock is down 30%, and Steve Jobs just dumped almost $300 million worth of shares. So at $59, with the company about to turn 30, is Apple a buy, hold or sell? ¿ Incidentally, the one thing you cannot do with Apple is rely on magazine covers for buy or sell signals. ¿ A surprisingly interesting discussion about AT&T and the "common carriage" rule. It has direct applicability to Internet bandwidth pricing. ¿ Asia's Future? It's All About Demographics. ¿ Time asks whether President Bush's normally astute "political antenna" is broken. ¿ If you are a wonk interested in the esoteric discussions on economic dark matter -- that mysterious stuff that rationalizes all the imbalances in the economy -- you may find No Monopoly on Dark Matter interesting. ¿ Very unflattering portrait of J.P. Morgan Chase CEO Jamie Dimon. Forget sucking up to obnoxious bosses -- Guy Kawasaki gives good advice on The Art of Sucking Down. ¿ Simple ways to make yourself far cleverer -- even if you aren't the woman with perfect memory who is baffling scientists.
Cramer: Stock Tips for Suckers?
Is the Market Mad? Evidence from Mad Money (academic paper)
Unauthorized Discussion Forums
¿ Awesome: A 9-year-old uses Apple's GarageBand to great effect: Check out what he created, and as you listen, you may find it hard to believe how old he is! ¿ The first of the reviews for Pixar's Cars is utterly terrific. The animation looks astounding. See the newest trailer here (check out the tatt on the Porsche). ¿ Jeff Matthews digs the Arctic Monkeys (My CD is already ordered.). Lately, I've been loving Jenny Lewis with The Watson Twins' new disc, Rabbit Fur Coat. It's brilliant modern alt. country. Jazz fans need to check out Testifyin'!: Live at the Village Vanguard by the underappreciated Benny Green. ¿ The very witty Stanley Bing looks at the Roman Empire as an expansionary multinational corporation in Rome, Inc. Very amusing!