Happy (ish).

The mood at the CFA forecasting dinner last night was decidedly downbeat. Speakers talked about US global debt levels, government and consumer. Not consistent with markets at three-year highs. Probably because a portion of this cohort of money managers is short and keeps getting squeezed. Behaviorists would argue that this is anchoring bias. Once you have got your teeth around a thesis you don’t let go. Meanwhile, employment news comes out fairly positive. Just another day at the beach.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s