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September, 2017 Archives

Richard’s Thoughts on Long-Term Returns

Richard’s Comments

 

It’s interesting, but the great portion of what we hear about stocks today is concentrated on near-term performance. CNBC has even reduced stock analysis to quarterly earnings (after all, they have to fill up a lot of time each day).

 

Yet when stocks collapse, Wall Street’s apologist-strategists talk about “holding for the long term.” Ah, there’s the irony. THE DEPRESSING FACT IS THAT STOCKS ARE NOT PRICED TO BRING IN HEALTHY RETURNS OVER THE LONG TERM.

 

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Where's the Economic Growth?

By Chuck Butler

   

At my 20th High School Reunion, I was on a committee to find our classmates. Then, being about the only person there that had public speaking experience, I was asked to give the opening remarks to the crowd. 

 

I decided to have some fun with it, and told my classmates that they were very difficult to find, and we had even put some of their faces on milk cartons! I would like for us to remember the long-lost milk carton… Nowadays milk is delivered in plastic jugs, so it would be difficult to put someone’s face on a milk jug these days!

 

 

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Daily Recap

Equities slowly built up momentum as the day went on, heading higher into (mostly) uncharted territory. One of the catalysts was higher interest rates, which helped financial companies lead the way up. Stocks pared their gains once details were released about the GOP's latest tax plan.

 

 

 

 

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Conflicted

by Jon S. Strebler 

 

The founder of Dow Theory Letters, Richard Russell, often reminded us that the namesake "Dow Theory" had two components. The first and most widely followed by far was the action of the two senior Dow Jones Averages: the Industrials and the Transports. This first component focused on the long-term trend of stock prices as gauged by examining charts of those two Averages, a trend which was categorized as either bullish or bearish.   

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Let the Charts do the Talking

By Matthew Kerkhoff

 

What separates technical analysts from the rest of the investment community? If you had to boil it down to one particular trait, it would be the belief that markets discount everything. That is, a stock’s (and therefore an average’s) price already reflects everything that has or could affect a particular company.

 

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