U.S. stockmarkets have dropped because of Italy.
Which reminds me of old story about a fly crawling up an elephant’s hind leg with rape with mind.
Italy is one theory. (Good place for a cheap holiday this summer?)
Two Macquarie analysts have another theory:
“In a world dominated by meaningless noise, automated trading, hyper active public sectors and as a result severely compressed and distorted business and capital market cycles, we continue to prefer to avoid short-term trading opportunities (unless they are exceptionally deeply discounted) and stick with secular strengths, domestic scale and low external vulnerabilities while avoiding terms of trade exposures.”
My theory is the Macquarie analysts are being paid by the polysyllabic word. Mumbo jumbo incarnate. Not my style.
Harry’s theory is nothing has changed. Play tennis. The markets will bounce back.
I am happy about CRM’s sterling results last night. They continue to blow out their numbers. This morning I received my invitation:
I’m expected to pay $1900 to listen to an extended salespitch for Salesforce! But thousands will. And they will be sold out. One amazing company!
Ditto for Square, which is analogous to Safesforce in many ways, including helping its customers market their wares and service. Look at Square’s gorgeous chart of the past several years:
You can read a transcript of Salesforce’s earnings call from last night here.
Which direction for the market? Probably UP.
I like the regular videos the Ciovacco family puts out on the future of the markets. They look at charts and figure likelihoods. Right now they’re optimistic:
For the full video, click here.
Don’t do stupid (Some new, some old.)
+ Don’t lift your heavy bag onto the plane’s overhead bin.
+ Don’t fall on the last step going down.
+ Don’t walk or drive just because the light turned green.
+ Don’t drive tired.
+ Don’t take your doctor’s opinion on what’s wrong with you. He doesn’t know. You do. Research. Research. Research. Medicine and health is now too difficult for one doctor to know it all. (They’ve been recent studies confirming that teams work the best in health care, not one doctor.)
+ Don’t teach your parrot to speak to Alexa. Imagine what the bird can do now.
+ Don’t sign up for something “free” that takes your credit card. In a month or two, you’ll see charges on your credit card you’ll have serious trouble erasing.
What’s North Korea like?
In a word — miserable. There’s a fascinating piece in the Economist:
…Yet hopes that Mr Kim will bring change, which were widespread when he took over from his father in 2011, have so far proved misplaced. Far from liberalising the country, Mr Kim has tightened the shackles, reinforcing the border with China to make it harder for people to escape and cracking down hard on offences such as possessing a flash drive loaded with South Korean soap operas, or owning a Chinese SIM card in order to make international calls near the border. (Ordinary citizens are not allowed to call foreigners within the country, much less anyone abroad.)
For the full piece, click here.
If you’re in New York City tonight,
… Look west at about 8:10 PM. Marvel at something we call Manhattanhenge — when the setting sun sun lines up with Manhattan’s street grid:
This really bothers me. One of President’s sons is re-tweeting Roseanne’s anti-Semitic nonsense:
You can read the rest of the story here.
These are more fun:
Harry Newton. Sorry about my intermittent postings. I read a lot. Sometimes I don’t find a lot of interest. It’s presently overcast. I hope it clears later.
