Friday, January 29, 2010
Man, it's hard to believe that it's the end of the first month of the year (and indeed the decade) already. They say that time passes more swiftly as you get older; if January's anything to go by, that little aphorism is all too true. Still, you're never too old to learn, and keeping an active and inquisitive mind is one the keys to at least feeling youthful. Here are 20 things that Macro Man learned in January:
1) Chasing the initial stock market move out of the blocks is a bad idea.
2. Chasing the initial dollar move out of the blocks is also a bad idea.
3. Chasing the initial move out of the blocks in fixed income is, however, a GOOD idea.
4. Hell can freeze over.
5. So can the UK.
6. Barack Obama evidently doesn't like banks or rich people.
7. Neither does the Labour government.
8. Except when they do.
9. China might actually be serious about tightening policy.
10. Greece is in pretty serious trouble....
11. ...except on days when they have a bond offering. Or maybe that €20 billion worth of bids suggest that the investment wheat hasn't yet been completely separated from the chaff.
12. Europe, despite the rhetoric, is probably going to blink.
13. Ben Bernanke will repeat as Fed chairman.
14. The Steelers, alas, will not be repeating as Super Bowl champions.
15. The Human Fund lives.
16. Sometimes, following the consensus carry trade is a really, really bad idea.
17. A flask of mercury weighs 34.5 kg.
18. Kraft is buying Cadbury.
19. Haiti is, tragically, a bigger mess than anyone thought.
20. Fannie and Freddie have evidently ceased to exist (if they ever did), given how often they're mentioned when politicians look to dish out responsibility for the financial crisis.