moneymcbags (< 20)

9/10/10 Midevening Report: Market ends the week slightly higher as it can only afford the cheap stuff

September 10, 2010 – Comments (0) | RELATED TICKERS: NOK , DFZ , MSFT

Just a quick daily report because Money McBags spent way too much time breaking down DFZ's Q earlier today, especially considering no one gives a f*ck about the company including investors, the CEO, and probably even the CEO's mom (though Money McBags' analysis kills it).  That said, the market was up modestly today on light volume and lighter news, unless you consider some dink named Austan Goolsbee* being appointed as Obama's Chairman of Economic Advisors as news (and Goolsbee can now no doubt closely advise the President on where all the "ghouls be" in the economy, and yes Money McBags had to do make that joke).  Anyway, since we're already here, Goolsbee is the youngest chairman since Arthur Okun in 1969 which is fitting because the economy is testing whether Okun's Law was actually too conservative.

In macro news, wholesale inventories were up 1.3% which was their largest jump in two years and signals a continued inventory build, but as a witch doctor (or economist, take your pick) said in the linked to article: "Either the economy picks up or production has to be cut."  Wow, thanks Captain Obvious, care to let Money McBags know your take on the still unsolved P-NP problem?  Let me guess, either P=NP or it doesn't (and as Money McBags eloquently proved weeks ago, unless N=1 than P does not = NP.  Hardest problem in the world solved, now where's Money McBags' prize?).  Anyway, as usual the data can be interpreted however one feels like interpreting it since macroeconomics is less of a science than alchemy or ...READ MORE...