Thursday, June 9, 2011

Thursday Links

6 comments:

Jmperry said...

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.

Jmperry said...

Gotta love how Buffett becomes more popular as his returns weaken.

CP said...

Get ready for the next leg down - it's the end of the beginning!

CP said...

Interesting point about Buffett.

DO you follow Prechter/socionomics at all?

Jmperry said...

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.

CP said...

Good point. Blind extrapolation is the mind's default mechanism for thinking about the future.