Additional Wednesday Reviews and Quote of the Day
Abnormal Returns on the merits of a buy and hold strategy, and the challenges of active management: http://www.abnormalreturns.com/2009/11/investing-by-the-seat-of-their-pants/
Quote of the Day (Love this! Even though it is from CNBC )
What if the problem is that there is just too much stuff — houses, furniture, clothing, televisions, whatever — and not enough people willing or able to buy? That is the diagnosis of Wells Fargo Chief Economist John Silvia, and he is concerned that public policy is making matters worse.
“We see an economy characterized by an excess supply of goods, an excess supply of labor and an excess supply of credit,” he said.
For the economy to grow fast enough to generate jobs, those excesses will need to be brought back into balance.
In theory, that would suggest prices need to fall even further to stimulate demand. In the real world, that still points to a painfully slow recovery and little that the White House can do to speed it up.