by Jon S. Strebler
I don’t know about you, but the first time I saw a video game was at my brother-in-law’s house back in 1978. He had some box hooked up to his TV; the screen was black and green and looked kind of like a ping-pong table. The game of course was Pong, and it was a wild, exciting new toy at the time.
The stock market reminds me of that old game, which was the first salvo in a mega-billion dollar industry that just keeps getting more and more sophisticated. But Pong was really simple – the “ball” would bounce one way, then back the other way – on and on. God, we were easily amused in those simpler times!
It’s summertime in the northern hemisphere, and investors are playing Pong. Stock indices rise for a few weeks, signal that they’re finally ready to break decisively into new territory in a ... Log in or subscribe to continue reading.