"Stocks climb for no apparent reason whatsoever based on even the remotest connection to actual data, or economic reality.”
Doko ka Nihon no mura de, Akimoto meimei baka ga ketsuraku shite imasu.
Sorry, forgot the translation:
Somewhere in a village in Japan, an idiot named Akimoto is missing.
My first pass at any stock is):
1) Does it have an inelastic demand?;
Secondly, I move to:
2) Do I use the product? If it's inelastic, I either use it or it's competitor.
Finally I move on to look at the internals [P/E ratios, etc.]
Few of these 'stock du jour' articles meet my criteria.
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An interest rate tease in The Wall Street Journal sends the market into an optimistic tizzy -- but one that doesn't end quite at the top.
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