Born into a Big 5 investment banking family, I quit organized financial racketeering to go straight. MacDougal Irving is my Blogger Protection Identity, and I am a retired Certified Public Accountant and, like all of us, a badly misinformed investor. These are my observations on capital market cons as they were explained to me across the dinner table as a kid.
Prize
........... Recipient of the 2010 MacDougal Irving Prize for Truth in Market Manipulation ...........
August 20, 2015
What Has the World Come to?
Just when seasoned market observers were beginning to think that things couldn't possible get worse pretty much anywhere across the globe, the Brits go and announce that pubs there are dying off at the rate of 29 iconic watering holes a week - with no end in sight. Apparently, MEN IN ENGLAND HAVE STOPPED DRINKING, or are in the midst of doing so. Forget the Fed's interest rate circus. Surely this is the catastrophic event that will mark the bottom of our dreadful summer plunge.
Or not. If the Dow doesn't open down by at least hundreds on that kind of devastating news, maybe it never will, and we're destined to live out our days tortured forever by relentless shorts in this never-ending market of a thousand cuts.
http://money.cnn.com/2015/08/14/news/pubs-uk-beer-alcohol/index.html?iid=ob_article_hotListpool&iid=obnetwork