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The market continues to oscillate, vacillate, and meditate as we warned in our previous newsletter (see Vega Capital Group Quarter I, 2010 newsletter).
In order to get a better understanding of what is happening, let's take a look at one of our favorite economic data — both from political and macroeconomic points of view — the unemployment rate. It is this number which determines the well being of the nation, after all, dictates many economic and political decisions, influences the consumer confidence index, and defines the behavior of our politicians.
Recently, the Bureau of Labor Statistics published its June report. Let's begin with it and analyze it slightly deeper than the headlines.
Let's recall, first of all, that those who were advocating the green shoots have received a serious blow in May of this year. They learned a lesson, and this time around, the approach to the forecast has been much more careful — and probably somewhat subdued. "Yes, we are expecting worse numbers — but only because the temporary census workers are being laid off" — was the favorite explanation of one of the CNBC hosts — the one who thinks he is smarter than every single person he interviews.
Read the full article here
Vega Capital Group 2010 Q-I newsletter

Vega Capital Group 2009 annual newsletter

Vega Capital Group 2009 Q-III newsletter

Vega Capital Group 2009 Q-II newsletter

Vega Capital Group 2009 Q-I newsletter

Vega Capital Group 2008 year-end newsletter

Website last updated 08/23/2010
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