Sunday, March 06, 2022

Cowering Americans to Ukrainians: You Must Die for Freedom! (Graphic)






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2 comments:

Anonymous said...

Stop those Russians from invading your border--just like we stop the Mex from invading OUR bor...uhh,never mind.

--GRA

Sunday, March 6, 2022 at 11:08:00 AM EST
Anonymous said...

A STOCK MARKET STORY THAT MAY OR MAY NOT BE RELEVANT TODAY.


(ZH)In recent days with tensions of a global war running at the highest level in decades, an apocryphal story from Art Cashin has been making the rounds across trading desks: one in which the venerable trader explains why when Wall Street was gripped by a selling panic during the Cuban Missile Crisis, the right move was the buy everything:

There was the lesson I learned during the Cuban Missile Crisis. At the time I was studying with “Professor Jack” under a Moosehead, in a saloon called “Eberlin’s” down the block from the exchange. The tuition was paid in scotch “old fashions.” Classes lasted until either you ran out of money to buy drinks or Jack ran out of the ability to stand. Jack was actually a 62 year-old trader in silver stocks but he had more in his head than is in most university libraries.

Anyway, it was the Cuban Missile Crisis and there were rumors that Russia had launched rockets and the Dow took a dive near the bell.

I cleaned up my desk and raced to the Moosehead, as animated as only an 18 year-old can be. Jack was already there and as I burst through the door, I shouted: “Jack! Jack, there was a strong rumor that the missiles were flying and I tried to sell the market but failed.”

Jack said “Calm down kid! First buy me a drink and then sit down and listen to me.” I ordered the drink and meekly sat down.

Jack said – “Look kid, if you hear the missiles are flying, you buy them. You don’t sell them.”

“You buy them?” I said, somewhat puzzled.

“Sure you buy them!” said Jack. “Cause if you’re wrong, the trade will never clear. We’ll all be dead.”

That’s a lesson you won’t learn in the Wharton School.

Fast forward almost 50 years when on Friday, BCA Research global chief strategist Peter Berezin published a rather bizarre note echoing much of the above.

In the note,Berlin listed the odds of a nuclear holocaust in the next 12 months,at 10%--a high number.

But he suggests--as Cashin found out--and says now as well--buy stocks.

GRA:Here,I'll disagree slightly.If economic conditions weren't so abysmal,I'd say go for it.Unfortunately,with gas prices exploding higher,leading to MORE inflation,I think waiting a while is the best bet(I might buy around 3600-3800 SPX).In otherwords,our nuclear annihilation might be only slightly worse than avoiding it in the next few months for stock prices.

The year of Shemitah is always bad for stock returns--I know that--and I'm not Jewish.

--GRA

Sunday, March 6, 2022 at 9:31:00 PM EST

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