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February 28, 2009 at 4:34 PM #357981February 28, 2009 at 4:44 PM #357405
davelj
Participant[quote=partypup]I saw the cover of Newsweek while I was in line at the store today. the headline: “How Obama can talk us out of a depression”. it could have just as easily read: “How Obama is going to try to talk us out of rioting and burning down the motherf****** house”.
LOL[/quote]
Before this notion gets lambasted, I think there’s at least a 50% likelihood that we’re headed to 600-ish on the S&P, so I’m still bearish, but having said that… there is a widely-known “Magazine Cover Indicator” in investing. And its record as a contrary indicator is almost flawless. “Death of Equities” in 1982; “Man of the Year: Jeff Bezos” in 1999; “Are You Missing Out on the Housing Boom?” in 2006, etc. etc. The idea, of course, being that once an idea has sunk itself so deeply into the public’s consciousness that it’s on a major magazine cover, then it’s run its course. I’ve been telling people that things are so negative that we’re likely getting close to the bottom on stock prices, but I’m waiting for some magazine covers. I don’t think this one quite qualifies because it implies that Obama can talk us out of a Depression, which is still a little too optimistic for me. But once the magazines have covers that say, “How You Should Be Preparing for Economic Armageddon,” (and I think we’ll see them this year), well, that will be the bottom for stock prices (at whatever level that happens to be). Even as housing prices and the economy continue to decline into next year.
February 28, 2009 at 4:44 PM #357707Participant[quote=partypup]I saw the cover of Newsweek while I was in line at the store today. the headline: “How Obama can talk us out of a depression”. it could have just as easily read: “How Obama is going to try to talk us out of rioting and burning down the motherf****** house”.
LOL[/quote]
Before this notion gets lambasted, I think there’s at least a 50% likelihood that we’re headed to 600-ish on the S&P, so I’m still bearish, but having said that… there is a widely-known “Magazine Cover Indicator” in investing. And its record as a contrary indicator is almost flawless. “Death of Equities” in 1982; “Man of the Year: Jeff Bezos” in 1999; “Are You Missing Out on the Housing Boom?” in 2006, etc. etc. The idea, of course, being that once an idea has sunk itself so deeply into the public’s consciousness that it’s on a major magazine cover, then it’s run its course. I’ve been telling people that things are so negative that we’re likely getting close to the bottom on stock prices, but I’m waiting for some magazine covers. I don’t think this one quite qualifies because it implies that Obama can talk us out of a Depression, which is still a little too optimistic for me. But once the magazines have covers that say, “How You Should Be Preparing for Economic Armageddon,” (and I think we’ll see them this year), well, that will be the bottom for stock prices (at whatever level that happens to be). Even as housing prices and the economy continue to decline into next year.
February 28, 2009 at 4:44 PM #357848Participant[quote=partypup]I saw the cover of Newsweek while I was in line at the store today. the headline: “How Obama can talk us out of a depression”. it could have just as easily read: “How Obama is going to try to talk us out of rioting and burning down the motherf****** house”.
LOL[/quote]
Before this notion gets lambasted, I think there’s at least a 50% likelihood that we’re headed to 600-ish on the S&P, so I’m still bearish, but having said that… there is a widely-known “Magazine Cover Indicator” in investing. And its record as a contrary indicator is almost flawless. “Death of Equities” in 1982; “Man of the Year: Jeff Bezos” in 1999; “Are You Missing Out on the Housing Boom?” in 2006, etc. etc. The idea, of course, being that once an idea has sunk itself so deeply into the public’s consciousness that it’s on a major magazine cover, then it’s run its course. I’ve been telling people that things are so negative that we’re likely getting close to the bottom on stock prices, but I’m waiting for some magazine covers. I don’t think this one quite qualifies because it implies that Obama can talk us out of a Depression, which is still a little too optimistic for me. But once the magazines have covers that say, “How You Should Be Preparing for Economic Armageddon,” (and I think we’ll see them this year), well, that will be the bottom for stock prices (at whatever level that happens to be). Even as housing prices and the economy continue to decline into next year.
February 28, 2009 at 4:44 PM #357880Participant[quote=partypup]I saw the cover of Newsweek while I was in line at the store today. the headline: “How Obama can talk us out of a depression”. it could have just as easily read: “How Obama is going to try to talk us out of rioting and burning down the motherf****** house”.
LOL[/quote]
Before this notion gets lambasted, I think there’s at least a 50% likelihood that we’re headed to 600-ish on the S&P, so I’m still bearish, but having said that… there is a widely-known “Magazine Cover Indicator” in investing. And its record as a contrary indicator is almost flawless. “Death of Equities” in 1982; “Man of the Year: Jeff Bezos” in 1999; “Are You Missing Out on the Housing Boom?” in 2006, etc. etc. The idea, of course, being that once an idea has sunk itself so deeply into the public’s consciousness that it’s on a major magazine cover, then it’s run its course. I’ve been telling people that things are so negative that we’re likely getting close to the bottom on stock prices, but I’m waiting for some magazine covers. I don’t think this one quite qualifies because it implies that Obama can talk us out of a Depression, which is still a little too optimistic for me. But once the magazines have covers that say, “How You Should Be Preparing for Economic Armageddon,” (and I think we’ll see them this year), well, that will be the bottom for stock prices (at whatever level that happens to be). Even as housing prices and the economy continue to decline into next year.
February 28, 2009 at 4:44 PM #357986Participant[quote=partypup]I saw the cover of Newsweek while I was in line at the store today. the headline: “How Obama can talk us out of a depression”. it could have just as easily read: “How Obama is going to try to talk us out of rioting and burning down the motherf****** house”.
LOL[/quote]
Before this notion gets lambasted, I think there’s at least a 50% likelihood that we’re headed to 600-ish on the S&P, so I’m still bearish, but having said that… there is a widely-known “Magazine Cover Indicator” in investing. And its record as a contrary indicator is almost flawless. “Death of Equities” in 1982; “Man of the Year: Jeff Bezos” in 1999; “Are You Missing Out on the Housing Boom?” in 2006, etc. etc. The idea, of course, being that once an idea has sunk itself so deeply into the public’s consciousness that it’s on a major magazine cover, then it’s run its course. I’ve been telling people that things are so negative that we’re likely getting close to the bottom on stock prices, but I’m waiting for some magazine covers. I don’t think this one quite qualifies because it implies that Obama can talk us out of a Depression, which is still a little too optimistic for me. But once the magazines have covers that say, “How You Should Be Preparing for Economic Armageddon,” (and I think we’ll see them this year), well, that will be the bottom for stock prices (at whatever level that happens to be). Even as housing prices and the economy continue to decline into next year.
February 28, 2009 at 5:01 PM #357415Borat
ParticipantBorat: if you think that 190 unemployed attorneys AND 250 unemployed support staff (do you loathe paralegals and secretaries, too?) hitting the streets isn’t going to exacerbate this spiral into disaster, then you’re missing the big picture.
Again puh-leeze. They will have to go work in an ACTUAL INDUSTRY that produces something of value rather than just pushing paper. Let them go do accounting in a machine shop or for a plumbing business. Let them go to mortuary school. Let them learn how to drive a truck or dig holes in the ground. I think we can survive with a few less law firms.
What do you call 300 unemployed lawyers? A good start.
February 28, 2009 at 5:01 PM #357717ParticipantBorat: if you think that 190 unemployed attorneys AND 250 unemployed support staff (do you loathe paralegals and secretaries, too?) hitting the streets isn’t going to exacerbate this spiral into disaster, then you’re missing the big picture.
Again puh-leeze. They will have to go work in an ACTUAL INDUSTRY that produces something of value rather than just pushing paper. Let them go do accounting in a machine shop or for a plumbing business. Let them go to mortuary school. Let them learn how to drive a truck or dig holes in the ground. I think we can survive with a few less law firms.
What do you call 300 unemployed lawyers? A good start.
February 28, 2009 at 5:01 PM #357858ParticipantBorat: if you think that 190 unemployed attorneys AND 250 unemployed support staff (do you loathe paralegals and secretaries, too?) hitting the streets isn’t going to exacerbate this spiral into disaster, then you’re missing the big picture.
Again puh-leeze. They will have to go work in an ACTUAL INDUSTRY that produces something of value rather than just pushing paper. Let them go do accounting in a machine shop or for a plumbing business. Let them go to mortuary school. Let them learn how to drive a truck or dig holes in the ground. I think we can survive with a few less law firms.
What do you call 300 unemployed lawyers? A good start.
February 28, 2009 at 5:01 PM #357890ParticipantBorat: if you think that 190 unemployed attorneys AND 250 unemployed support staff (do you loathe paralegals and secretaries, too?) hitting the streets isn’t going to exacerbate this spiral into disaster, then you’re missing the big picture.
Again puh-leeze. They will have to go work in an ACTUAL INDUSTRY that produces something of value rather than just pushing paper. Let them go do accounting in a machine shop or for a plumbing business. Let them go to mortuary school. Let them learn how to drive a truck or dig holes in the ground. I think we can survive with a few less law firms.
What do you call 300 unemployed lawyers? A good start.
February 28, 2009 at 5:01 PM #357996ParticipantBorat: if you think that 190 unemployed attorneys AND 250 unemployed support staff (do you loathe paralegals and secretaries, too?) hitting the streets isn’t going to exacerbate this spiral into disaster, then you’re missing the big picture.
Again puh-leeze. They will have to go work in an ACTUAL INDUSTRY that produces something of value rather than just pushing paper. Let them go do accounting in a machine shop or for a plumbing business. Let them go to mortuary school. Let them learn how to drive a truck or dig holes in the ground. I think we can survive with a few less law firms.
What do you call 300 unemployed lawyers? A good start.
February 28, 2009 at 5:07 PM #357420scaredyclassic
Participantlawyer ad something to society.
it’s productive. imagine a society without a legal system. bad.
lawyers are good.
February 28, 2009 at 5:07 PM #357722Participantlawyer ad something to society.
it’s productive. imagine a society without a legal system. bad.
lawyers are good.
February 28, 2009 at 5:07 PM #357863Participantlawyer ad something to society.
it’s productive. imagine a society without a legal system. bad.
lawyers are good.
February 28, 2009 at 5:07 PM #357895Participantlawyer ad something to society.
it’s productive. imagine a society without a legal system. bad.
lawyers are good.
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