Albert J. Nock's essay "Isaiah's Job" comes to mind.

"…he presented me with arguments sound as a nut and he was a much more learned man than I." … "But still I reasoned he was not taking account of one thing… "

All this talk about how bearish things are, and how the economy is going into a freefall, and Citi's deal means that they're twice as bad as Countrywide, and housing's fall has just started, and the million other things that I've been reading about how the end is nigh, the dollar is through the cellar. The statistical talk about how many 20% declines there have been relative to 10% declines. (All that one has to do there is look at the expectation after a 10% decline has occurred for a fixed interval ahead, or until the next x% move up or down, a exercise that is well covered in various books by Daily Spec posters and founders). What does this have to do with the differential between the earnings yield + growth rate, and the long term bond yield? What does this have to do with whether it's discounted? What does this have to do with whether when news is bad or good? And what does this have to do with whether it's good to buy when it's down 10% or up 10%? Most important, when the market looks bad, is it time to sell? Remember you have to sell and then buy to catch that 10,000 fold drift.

I am too busy looking for a Morrison's where I can get seconds for free (all tennis players dress in white in the qualifiers to look alike to the cashiers in the South), or a buck to post the answers to this, and indeed, I'll go with Schoolboy's idea of a few days ago tomorrow, but Nock, if he read as much of the Triumphal Trio's work and the Lorie work as he did of the classics, would be able to write an essay similar to Isaiah's Job about the wrongness of all these abysmal end of the world memes.





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2 Comments so far

  1. Rich Dirker on November 30, 2007 12:05 pm

    All this bad news sells books, magazines, newspapers, subscription to technical analysis websites…
    It also helps to keep the public at large on the wrong side of the market. As the chair has noted on many occasions, this is necessary to pay the considerable maintenance cost of that marvelous casino we call the financial markets.
    Let’s not complain and take the opportunity to load up the boat with the strongest, best in class growth stocks. After that we can sit relaxed at home in front of our cozy fireplace and enjoy the Christmas season.

  2. Howdy Fuck on July 3, 2014 11:40 pm

    How dee FUCK can you write this garbage weeks after blowing everyone’s money back in 2007? You are a phucking psychopath of the highest order. Good FUCKING Christ you are a God Damn nightmare. Wow! Please take down this site. You are a sicko.


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