On yesterday’s site, I described the technical and fundamental mish-mash that now confronts us. I note that I’m still receiving advisories with long lists of stocks to buy. It’s not easy to make money when the trend is obscure. Along these lines, I note the thousands of hedge funds have thrown in the towel. CalPERS, an enormous California pension fund, has eliminated all the hedge funds from its portfolio.
One trouble with this business is that people won’t stop talking and advising even when they don’t have the slightest idea of what they’re talking about. It’s no mark of shame to admit that you are clueless, which is about where the investment industry finds itself today.
I note that there are five distribution days on the Nasdaq and three on the S&P. This is subtle evidence that institutions are quietly exiting this market.
The dividend yield on the widely followed S&P ... Log in or subscribe to continue reading.