The market continues its range bound nature. We really haven't gone anywhere in several months with the S&P bouncing between 1400 on the upside and 1260 on the downside. The bulls point to the earnings and the huge up move and they would be right. The bears would point to the continuing TED spread that is widening yet again http://www.bloomberg.com/apps/quote?ticker=.TEDSP:IND (this trades non stop so it expanded today, Wednesday, but a new day has technically started and it is flat), the ABX did not participate with the rally, and volume was once again on the light side and the bears also would be right. In addition to all the earnings your also have options expirations day on Friday which for technical reasons is usually a bullish event in downward drifting markets. In general the market seems to have priced in earnings fairly well. I am still waiting for next week with Ambac.
I am busily working on my quarterly letter so will be sporadic in my postings. I am also going to College Station, the land flowing with milk and honey, tomorrow for the final Titan's class of the semester. It is Britt's class he started a couple of years ago and tomorrow is the last class with the current Titan students and the new Titan candidates will be attending before we all go to Olive Garden. Should be fun and as always interesting.
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6 comments:
what's the Titans class about? Is it an A&M investing program? I'm going to be in CS, too - I'll keep an eye out for you.
It is a class that Britt envisioned and I helped launch my last semester at A&M. Essentially it covers business and investing history. It covers some of the classic books in investing. Every semester Britt chooses 10 to 15 students to be apart of the class. It is really incredible and I am just sad I was not able to participate as a student in the class.
I will be busy until about 10:00 p.m. but if you have free time and want to meet up on Northgate or something call me. My cell is 979-777-8391.
Man, that's exactly what we needed when we were there. Leaving the world a better place, Kaspar... Sounds like a good program. I don't guess I knew Britt at school. Is he a prof? I'm just going to be in and out of town so I guess we'll miss each other. Be careful driving.
Britt was my boss when I interned in NYC for Verizon's pension fund. He is now the head of the TRS (Texas Teachers Retirement System) a $120 billion fund in Austin.
Britt was my boss when I interned in NYC for Verizon's pension fund. He is now the head of the TRS (Texas Teachers Retirement System) a $120 billion fund in Austin.
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