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Stocks Long for Vote of Confidence
Don Luskin: Confidence ends bear markets. Can Obama instill it?
Don is hedging his bet that the markets will not react adversely to an Obama presidency by saying they already have. Never mind the facts of how we got here.
04-04-08: 'We're not in a recession, and we're not going into one'
04-18-08: 'The worst is over. It's more than over'
You were soooo wrong. I said at the time that those were dangerous comments to make and that the market could continue to move much lower even if we weren't in a recession. You were sounding very confident and definitive at the time and probably caused a bunch of people to shove more money into the market than was healthy for them. You're not even willing to admit that you were so wrong. Not a good sign for any business person. Blaming this market on Obama is just a deranged absurdity. But you're probably just trying to deflect any attention from the fact that you were so wrong. If you were working for me you'd have been fired a long time ago.
Thanks for another insightful article (LOL!). So you believe the market was making all-time highs a year ago because Obama had no chance of winning the presidency?! And now, the market's lows are due to Obama's almost-certain win?!
Sir, you're so wrong--the market's highs occurred when the Tampa Bay Rays had no chance of making it to the World Series. Now that TB is in the series, the world's markets have been spooked to their current levels. Just look at the charts for the past 4 weeks, as TB won their division, and then, their two playoff series. Don't you see the obvious correllation?? HA HA
By the way, in Sept '07, you were screaming that stocks were at least 40% undervalued (Dow @ 14,000). Now you claim you're afraid of buying stocks at current levels. Maybe you're just out of money, having used it all when the market was such a bargain? Hopefully, you'll soon be out of a job too.
What exactly do you read with those glasses? And again, I'm not even a Democrat or a liberal.
Watch out. Here come taxes. Run for the hills (while your 401k is in the toilet)!!!
Confidence is key. Higher taxes for those who don't 'trickle down' would be a nice start as well. Remember Bill Clinton?
Taxes, terrorists, bears! Oh My!
I also love the 'Obama Anticipation Recession' meme. The current state of the maket had nothing to do at all with 60 trillion dollars of CDS garbage being passed back and forth across the planet, no sir. Just Obama, and the bitter, bitter tears of the Republican base not being able to elect John McCain. By the way, he also had 'no shot' at the nomination a year ago when stocks were at their all-time high. So your political observations make sense on all sorts of levels, as usual. By that logic the nation, and indeed the world, were pining for Rudy Giuliani or Hillary Clinton.
How on Earth can this ass-whuppin’ post not even get 100 comments while those other sluttier posts get way more? These threads are being rigged … by ACORN! Wake Up sheeple!!1!1!@!
My god, did you drop some Sugarhill AND 9353 in the same column? A man of parts!
Sadly, there are people who read Smart Money for financial advice. It’s not like Luskin only wrote for The Washington Times or The Weekly Standard. “Smart” Money put this idiot in print month after excruciatingly wrong month. And that was after he revealed what an ignorant fool he was by going up against Krugman and being completely discredited. I recommend you submit this to Dumb Monkey as a cover story on how not to report on the economy. They owe to their readers.
Wow! This guy Luskin is a whack job.
after watching a clip of the CNBC financial brain trust interviewing Roubini and Nassim the other day, I wasn’t sure if your portrayal of Luskins “advice” was satire or not… looks like you took a serious look at what passes for “expert advice”… you sir, have done the country a service.
this post? this post, genius. thank you for the genius post.
Too bad you can't ask the Chicago City Comptroller Coalition Provisional Authority about that… WordPress willing, FTFY Just remember: pallets of bills, totally unaccounted for. C-5s full of cash.
Is this the same Donald Luskin that engaged in a several-years-long war of attrition with the Light Blue Satan, resulting in several hilariously futile attempts to out the notorious Atrios? Because if he is the same person, I didn’t think, until reading this post, that he could be more thoroughly punked. Bravo.
The only way I can explain Luskin getting a forum anywhere is that there really is a conspiracy to keep you poor and stupid.
It’ll be a recession in a couple of months when they can pin it on Obama with a straight face.
I suspect that if they have been listening to him. they likely can't afford the rope. I believe justme has won the thread.
I dunno about this bold thing. Every comment looks like a stern e-mail.
owlbear1 said, February 11, 2009 at 12:06 Who the f!*k is Luskin's audience? Why haven't they lynched him yet?His audience is the usual dupes of the Church of Free Market Triumphalism.
Yeah, he’s dead-on about this being a great time to buy stocks - if you get the ones with all the ornate lettering & fancy-ass graphics, I hear they make real pretty wallpaper. Donald Luskin is the Bill Kristol of Wall Street!
Who the f!*k is Luskin’s audience? Why haven’t they lynched him yet?
how about rainbow toe socks and short pants.I’d prefer not to have to remove my eyes with an impromptu spork. I suppose the double wetsuit reference goes here.
I'd love to see this clown in stocks. If stocks aren’t possible, how about rainbow toe socks and short pants. Every day for the rest of his life.
I wish I could be wrong so often and still keep my job. Heh, that would be sweet. Try the Securities Exchange Commission. They prize incompetence almost as much as moral bankruptcy.
Holy s!*t. Somebody pays this guy to write columns?Amazing, isn’t it? And he gets away with it, year after year. He’s turned being a moron into a lucrative career.
In fact, you'd think it had fallen into a boiling hot volcano. That's how empty you'd think that glass was. Empty? You call that ‘empty’? When I were a lad, we had glasses that were so empty that we had to hold them under a running tap for 20 minutes just to get the sides wet. But you didn’t hear us complaining, mainly because our throats were too dry.
I’d love to see this clown in stocks. I think we really need to bring those back. The wooden ones with holes for the wrists and neck, that is. If we as a nation invested in that sort of stocks, heavily, like lining the National Mall with them, and made them the punishment for being a media asshat who is always wrong, we’d be waaaaaayyyyyyy better off. Oh, yeah. They get to be the sentence for douchenozzle politicians, too. Baskets of rotting veggies for all! Sigh. Sweet reverie, a man can dream, can he not?
Based on this story, I’m investing in d!*k commodities. Oh wait, we already have a surplus. Maybe if we package Kudlow with Deutsch we can make a couple of worthless commodities look like a good deal. I better get the team on this. Bulls Away!
Corporate executive is another possibility.
I wish I could be wrong so often and still keep my job. Heh, that would be sweet. Well, the trick is to pick a job for which there is no pesky oversight board like, say, the American Bar Association; or one in which you may inadvertently kill your clients, like medicine, and then have to face litigious family members; or rat catcher, where if you kick back too long the rats start nibbling your toes; or bus driver or airplane pilot, where your miscalculations not only are going to get you maimed or killed but also wind up on the evening news. So that pretty much leaves politician and media personality.
As long as Mr. Luskin is getting his commission, the best time to buy stock is now, as well as tomorrow, also.
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