Bull Market for Donkeys
Posted by Steven Hayward
I have some reflections on how the Democratic Party might be a good speculative, contrarian buy if it were a publicly-traded company, up right now at TechCentralStation.
2:36 PM / December 29, 2004
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I disagree. The dems, if they were a stock would be what we call dead money value trap. They look enticing for both contrarian and value investors. For the contrarian investor, the time to buy is when everyone on the street hates the stock, all the analysts have hold or sell recs, so if there is any good news at all, the stock will pop. for the value guy, the stock has a high book value, low pe, recognized brand name, etc etc. But here is the key, the market is always looking 6 months out at least. So there is usually a good reason why a stock has bottomed. Perhaps there is a decreasing market for the product; high taxes, appeasement of dictators and facists, protest to anything and everything, moral equivalency, etc etc. Or, perhaps, a better "category killer" product has come out, faith based compassionette consevitism, fighting terrorists abroad as opposed to here, democracy spreading throughout the middle east in places like iraq, palestine etc etc . So, because the circumstances have changed, there really is no more value, so there never is any good news that will move the stock higher, hence, you are stuck in a trap.
Hello - Can we get a follow-up on your "Back to the 60s?" post?
Because, Mr. Hayward, it looks as though you might have to aim your blame elsewhere for those arsons. I hardly want to play judge, jury and executioner for these particular suspects, but it certainly looks as if your from-picketing-protesters-to-ecoterrorists hypothesis is rapidly falling apart. Authorities Link Maryland Arsons to Racing Club
It doesn’t look like you can pin this one on those evil/misguided/delusional environmentalists. Why am I not surprised that you didn’t post this article yourself, as a follow-up? (Influenced by the "fair and balanced" journalism of FoxNews, perhaps?) Rejoice, though! In the end, those dangerous picketers will stand (or be pushed) aside, and the "supposedly threatened" bog at issue will likely be long gone and forgotten. Your sycophant readers will still cite the fires as the work of pesky environmentalists (facts be damned!), and your favorite evil-doer, Michael Moore, will likely have not even heard of the place, the bog, the fires, etc.