Archive
COVID Can Crash Markets, but Supermarket Stocks Survive
Wall Street has finally calmed down a little in the last few days as lenders relax repayment rules on what could soon become millions of newly unemployed workers. Volatility has finally receded. I suspect that this is only the calm between the storms, or the eye of the coronavirus hurricane if you prefer. The S&P […]
Shock and Awe: The Fed Won’t Let the Market Crash
This has been a week of extremes. A lot of people are obsessing over superlatives: worst week since 2008, worst day since 1987 and so on. For them, it feels like the end of the world. I disagree. I lived through Black Monday in 1987 and went on to have a great career as a […]
If This Is All about the Virus, Why Aren’t Chinese Stocks Crashing?
The S&P 500 is once again in correction territory now that California has declared an emergency and the coronavirus has spread to 19 U.S. states. I don’t want to say the fear is overdone, but it will be temporary. For confirmation, we don’t need to look beyond China, where the disease was first identified and […]
From Tesla to Virgin Galactic, a Few Hot Stocks Don’t Make a Market Crash
Remember when Elon Musk said he was fielding offers to take Tesla Inc. (NASDAQ:TSLA) private at $420, and everyone laughed? Here, the stock is at $900 and only the short sellers are crying. And it isn’t alone. Virgin Galactic Holdings Inc. (NYSE:SPCE) was dead money last year. Now it has tripled in value since Dec. […]
Biotech After The Coronavirus Outbreak: Real Boom Or Bounce?
If the world is ending, nobody told Wall Street. Stocks are once again in sight of record territory. It’s business as usual. But take even a brief look at who’s leading the rally and it’s clear that investors have outbreaks on their minds. A healthy 26 stocks have soared 80 percent or more over the […]
Coronavirus Has Rocked World Markets, But Are Plague Stocks A Buy?
Massive disease outbreaks have changed the course of history and spawned huge Hollywood movies, but the global economy has bounced back every time. For long-term investors, there’s no need to track the viral scenarios. All we really need to remember is that people will always get sick and medicine will always adapt to contain and […]
Beware of Falling Apple No Matter How Fast Service Revenue Grows
The market’s mood always revolves around Apple Inc. (NASDAQ:AAPL). Next week, we’ll see how well that mood holds up when we observe the corporate reality behind it. Apple CEO Tim Cook is an accounting genius. I will be shocked and a little horrified if the company misses detailed guidance when it reports its quarterly numbers […]
Amazon Just Lost Its Secret Weapon and Now the Stock Is Broken
Jeff Bezos had a spectacular decade. Amazon.com Inc. (NASDAQ: AMZN) soared 900 percent while the S&P 500 barely doubled. But more recently, the juggernaut has faltered. AMZN is only up 13 percent in the past year and is still 7 percent off its all-time peak. The market as a whole, meanwhile, has shifted into racing […]
When Larry Summers, Paul Gundlach and All Tthe Other Bears Get It Wrong
Nobody wants to follow a broken game plan. That’s why it’s worth reviewing the accuracy of your own market forecasts as well as everyone else’s predictions from time to time. And the start of a new year presents the perfect opportunity to calibrate our sense of where Wall Street is headed. I’m pleased to say […]
Why Robert Shiller Can’t Figure Out This Rally
Part of what won Yale University economist Robert Shiller a Nobel Prize was his 2005 warning that the housing market was getting unsustainably overheated. Since then, people have come to him to tell the bulls that they’ve gone too far. That’s why his recent admission that this record-breaking year on Wall Street is built on […]
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