tag:blogger.com,1999:blog-7661188327981862288.post8273548654331348852..comments2023-10-03T06:34:32.302-05:00Comments on Anonymous Monetarist: Randomwalkin's not pinin', Barclays, 'tis whinin, the cycles are dinin', the fractals divinin'Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7661188327981862288.post-22305104835350161492010-05-16T10:50:59.219-05:002010-05-16T10:50:59.219-05:00Joe,
Whereas I respect the premises upon which yo...Joe,<br /><br />Whereas I respect the premises upon which your commentary is made I'm sure it is clear to you by now that I'm walkin' a different path...<br /><br />Have come across the Buddha in the road with fork extended.<br /><br />All good things must come to an end... or perhaps a new beginning.<br /><br />Peace,<br /><br />AMAnonymous Monetaristhttps://www.blogger.com/profile/05244697197094564980noreply@blogger.comtag:blogger.com,1999:blog-7661188327981862288.post-43026623873015016922010-05-12T07:43:45.991-05:002010-05-12T07:43:45.991-05:00anony M,
I'm not alone in thinking about stoc...anony M,<br /><br />I'm not alone in thinking about stock market dispersion, and potential opportunities in stock picking. The abnormal returns blog just speculated we might see opportunities in stock picking due to volatility. http://classic.abnormalreturns.com/the-forthcoming-golden-age-of-stock-picking/<br /><br />the blog cites this article discussing prospects for stock picking using a fundamental long or long-short strategy.<br />http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1444868&download=yes<br /><br />However, I think the abnormal returns blog and the author of the article fail to take into account the major issue that massive macro-shocks (like bernanke's and trichet's bailout operations) macro effects can swamp fundamentals for individual securities, and you see correlations things like crashes where correllation goes to 1 and you see money printing cause some asset class or sub-class (like junky stocks and debt) to spike relative to others (like quality stocks). So perhaps not much help from fundamental stock picking until the macro-shocks diminish, or people get inured to them.joehttps://www.blogger.com/profile/06964772765266861643noreply@blogger.com