Finally—a stock market I can like! As the legendary investment guru Benjamin Graham argued, in the short run the market is a voting machine; in the long run, it is a weighing machine. This week the market voted for Bernie. I love it when good companies go on sale for 20 percent off! A bit sorry I gave up my VIX position last year though. But the stock market is not the only thing showing newfound volatility: a series of polls in recent days report Joe Biden showing signs of life after all (and yes, I know how weird it sounds to have “Joe Biden” and “signs of life” in the same sentence). So maybe the race isn’t over. I think the betting markets still have Bernie the decided favorite, but if there was ever the political equivalent of a VIX position, I’d be a big buyer right now. Meanwhile, in legal news, dumpsters have filed a class action lawsuit against the Democratic Party for setting too many dumpster fires. (Rim-shot!)
Headlines of the week:
And finally. . .