There is nothing new on Wall Street.

One of the best books about financial markets was published almost a century ago. “Reminiscences of a Stock Operator”, by Edwin Lefevre

A fictionalised account of the exploits of Jesse Livermore, a speculator. Livermore made a fortune selling the market short during the financial panic of 1907. He would repeat the trick in 1929. 

There is nothing new on Wall Street. What happens today in the markets has happened before and will happen again. Every extreme of greed or fear has a precedent. 

Technology changes, but people do not.

Buttonwood The Economist 28 July 2022

https://www.economist.com/finance-and-economics/2022/07/28/reminiscences-of-a-financial-columnist


“There’s no recession coming. The pessimistas were wrong. It’s not going to happen,” declared Larry Kudlow, an economic pundit, in December 2007. 

Nine months later the staff of the Federal Reserve still thought the economy would grow by 1.5% in 2008. 

In fact it shrank by 2.5%, part of the “Great Recession” now thought to have struck around the time Mr Kudlow was pontificating.

Henry Curr Money Talks The Economist 28 July 2022


Single-stock ETFs

3,700 years of history show the risks of betting with other people’s money

Long-Term Capital Management

Between 2000 and 2007, leverage increased to at least 32-to-1 at Bear Stearns and Goldman Sachs and to 40-to-1 at Lehman Brothers and Morgan Stanley, according to the Financial Crisis Inquiry Commission, a government-appointed group that investigated the market meltdown of 2008-09.

Jason Zweig WSJ 22 July 2022 

https://www.wsj.com/articles/single-stock-etfs-leverage-11658502932



Så talar en Strateg

Enligt Mattias Isakson, chefsstrateg på Swedbank, kan vi få se en lättare börs framöver.

– Det är inte osannolikt att vi får ett litet sommarrally i samband med rapportsäsongen, säger han 

 Men läget kan snabbt förändras.

– Det här kan vända snabbt. Att vi har en liten styrkeperiod, som vi haft och som vi ser ut ser ut att få framöver. Det tycker jag är naturligt i den typen av marknad som vi har nu, säger han och fortsätter:

– Sedan hur länge det håller i det vet vi inte.   

SvD 28 juli 2022

https://www.svd.se/a/pW7kW1/efter-feds-besked-borsen-vantas-lyfta


 




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