Howdy,
Per Monday's closing equity rally and the global equity rally that continues today; just before the noon bell.
Stock prices scored most of their gains in the final 2 hours, apparently in reaction to a story on television entertainment station CNBC: "European officials are working on a detailed plan aimed at shoring up European bank stability, according to an official who spoke with CNBC’s Steve Liesman." Unnamed sources whisper this plan would create a new highly-levered vehicle that would borrow massive sums in order to buy vast quantities of toxic debt that has been threatening the financial system. In other words, the solution to the European debt crisis is to create much more debt--out of thin air, of course. If there really is a plan anything like this, the probability of upside follow-through in stock markets might be questionable.
HOPEX Yes, the fund ticker spy program may think this is a real fund.......but, alas...not !
I do believe that I will start the SEC paperwork and get this fund in place. It will not use any fundamental or techinical benchmarks or machinations.
The ten sector choices of the fund will be derived from 25 diverse global sectors, which will be determined by the 25 sectors each having their names placed in their respective pie shapes onto a dart board.
Once a month, 10 neighborhood children will get one chance each, to throw a dart to the board to obtain the next set of ten sectors into which to place the monies. No repeats for at least one month, so a duplicate of a current sector will require a new dart toss until a different sector is chosen.
One may suspect this fund may perform as well as any other well thought fund plan. The work/maintenance of such a fund would surely be at the minimum.
So, get started; built your own at home and use your spare time for reading that book you have found time for; or other joyful adventure of your choosing.
Enjoy the current technical rally, without legs; in my most humble opinion. Perhaps this house will unload some equity stuff, if things keep moving along.
Back to work I must be.....
Hey, take care of you and yours,
Catch
Comments
http://www.flickr.com/photos/meabbott/3801919006/
Hey, you did find "the boat". Not very fast, but designed to haul the load and take on the challenge.
Take care,
Catch
(sarcasm) Wait, isn't solving this crisis with way more debt out of thin air the best way to solve it?(/sarcasm)
Oh, and we can do Enron-like accounting with SPVs and other complex, levered vehicles. That's really the core of a plan to save Europe. Yeah.
"Perhaps this house will unload some equity stuff, if things keep moving along. "
Selling a couple of small ultra sector funds that I got yesterday, not expecting this at all. Otherwise, not buying anything/not selling anything else. I don't think the world is going to end, but I do not think things are good - but the movements in this market are absurd.
Well done.....I enjoyed the story; and sounds like a plan.
Catch