How extraordinary it is.\u00a0 Now that efficient market theory is officially dead.\u00a0 Now that we have had endless days of black swans.\u00a0 The new black swan is the .0229% change day.<\/p>\n
Not that long ago, people were fighting for a piece of the action.\u00a0 Driving oil ever higher, we heard endless talk of how the days of cheap oil were over. \u00a0Today oil hit a target price not seen for 5 years.\u00a0 Some analysts\u00a0are projecting something even\u00a0lower for the future.\u00a0 Where is demand they say?<\/p>\n
Dow still seems intent\u00a0on doing a deal, at an outrageously high price that was considered high when the market was strong.\u00a0 What kind of management would continue to support such a plan?\u00a0 Will the shareholders get a chance to weigh in with their views?<\/p>\n
There are some incredibly good buys out there.\u00a0 If I were intent on buying a piece of America, a bit of oil for instance, I would choose this time to buy.\u00a0 Why does no-one think of buying when the price is low?\u00a0 Even if the price goes down from here, it has less far to fall than the drop from the previous lofty heights that put so many assets in play.<\/p>\n
This correction has been far harder and far faster than the rocketing market that lulled so many to sleep.\u00a0 That hedge funds, who for some unexplained reason have been able to perfect their craft outside of the normal scrutiny of the SEC, have been unloading at fire sale prices is part of the problem. Shame on us all for letting them get away\u00a0with their closed shop model\u00a0after the LTCM debacle.<\/p>\n
There are risks now that we will lose our way.\u00a0 We need to look through the carnage around us and set a course for the future.\u00a0 Cheap oil will not encourage the search for alternatives even though not all of them come with a high cost.<\/p>\n
How do we want to relate to the wider world?\u00a0 How do we want them to relate to us?\u00a0 How can these ideas filter down to the everyday lives of Americans?\u00a0 In a world where the production of more stuff creates more environmental damage, are our current pricing strategies creating the world we want to live in?<\/p>\n
These are big questions.\u00a0 If the market really is telling us something, it is that there are a lot of unanswered questions about who we are and where we are going.\u00a0 In the meantime, where are the buyers?\u00a0 When my husband and I stayed at the Grand Hotel on Mackinaw Island this past summer, we learned that the current family ownership dates from a purchase by an employee during the depression.\u00a0 The day will come, when everyone will be kicking themselves over the markdowns of America’s finest institutions.\u00a0 These companies represent years of history, years of good honest labor for and by Americans and many other citizens around the world.\u00a0 What does it say when we shun what we have spent a lifetime and our heritage building?\u00a0 This is our family.\u00a0 This is our history.\u00a0 It is time to stand by it or\u00a0we will lose it all.<\/p>\n","protected":false},"excerpt":{"rendered":"
How extraordinary it is.\u00a0 Now that efficient market theory is officially dead.\u00a0 Now that we have had endless days of black swans.\u00a0 The new black swan is the .0229% change day. Not that long ago, people were fighting for a piece of the action.\u00a0 Driving oil ever higher, we heard endless talk of how the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15","post","type-post","status-publish","format-standard","hentry","category-hot-topics"],"_links":{"self":[{"href":"https:\/\/0050c0a.netsolhost.com\/thelastword\/wp-json\/wp\/v2\/posts\/15","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/0050c0a.netsolhost.com\/thelastword\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/0050c0a.netsolhost.com\/thelastword\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/0050c0a.netsolhost.com\/thelastword\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/0050c0a.netsolhost.com\/thelastword\/wp-json\/wp\/v2\/comments?post=15"}],"version-history":[{"count":2,"href":"https:\/\/0050c0a.netsolhost.com\/thelastword\/wp-json\/wp\/v2\/posts\/15\/revisions"}],"predecessor-version":[{"id":99,"href":"https:\/\/0050c0a.netsolhost.com\/thelastword\/wp-json\/wp\/v2\/posts\/15\/revisions\/99"}],"wp:attachment":[{"href":"https:\/\/0050c0a.netsolhost.com\/thelastword\/wp-json\/wp\/v2\/media?parent=15"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/0050c0a.netsolhost.com\/thelastword\/wp-json\/wp\/v2\/categories?post=15"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/0050c0a.netsolhost.com\/thelastword\/wp-json\/wp\/v2\/tags?post=15"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}