Thursday Links
- "A 23.53-acre property at the Las Vegas Beltway and Hacienda Avenue that sold for $30.2 million in 2007 and was later foreclosed upon has been sold for $4.4 million."
- "The wheels are falling off the China story. A massive wave of malinvestment since 2008 is cresting, and the stupendous stimulus provided by gargantuan local government and private lending is expiring."
- "German Federal Constitutional Court To Challenge Greek Bailout, Claims Action Is Unconstitutional"
- Lots of skeptical articles about Groupon coming out.
- "As Warren Buffett’s Alpha Goes Down, The Value of A Lunch With Him Goes Up"
- Ugh, I can imagine how painful this is for Falcone: Endless LightSquared Headaches.
- Here's the problem with Bill Gross: he acknowledges that Japan has a "moribund, dead, lost-decade kind of economy" - but he thinks the U.S. situation is different!
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6 comments:
Re: the Zero Hedge article, the Russell 2k and the NYSE Composite are technically weak as well. Both have fallen out of ascending wedges. Fairly steep wedges at that.
Gotta love how Buffett becomes more popular as his returns weaken.
Get ready for the next leg down - it's the end of the beginning!
Interesting point about Buffett.
DO you follow Prechter/socionomics at all?
I don't follow Prechter, but I meant to get Conquer the Crash after you reviewed it. Thanks for reminding me.
The Buffett phenomenon is fascinating. He has such a long track record, and such a good reputation, that few people even notice how his performance and his integrity have fallen off. It's a perfect example of people blindly extrapolating the past into the future -- which is one reason markets will never be efficient.
Good point. Blind extrapolation is the mind's default mechanism for thinking about the future.
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