The Signal and The Noise (Part 2)

By | 2017-07-17T12:21:17+00:00 June 13th, 2017|Global Market Update|

How can we tell what’s really happening? Great Circus Parade, Milwaukee, WI. Photo: Royal Broil. Source: Wikipedia When the newsreels stop rolling and the microphones go away, we’re sometimes left with the impression that a circus parade just rolled by. Did anything actually change, or did we just see a cavalcade of horses, camels, and clowns roll down Main Street? We’ve heard about news stories with an underlying agenda too many times. When we read any important news item, something that always changes is [...]

Signals and Noise (Part 2)

By | 2014-06-03T09:23:49+00:00 June 3rd, 2014|Global Market Update|

How do you tell what’s really happening? When the newsreels stop rolling and the microphones go away, you’re often left with the impression that a circus parade just rolled by. Did anything actually change, or did we just see a cavalcade of horses, camels, and elephants roll down Main Street? When a major news event happens, one thing that does change is our perception of the news. Those perceptions meld together into expectations, and those expectations get built into stock and bond prices. It [...]