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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 23 MAY: ASX ekes out gain; Codan soars 14pc, Incitec tumbles | Archer Materials granted Australian patent for CQ quantum computing chip | Japan April consumer inflation beats BOJ target for 1st time in 7 years |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 23 MAY: ASX to open lower | Labor sweeps to power | EZZ works to catch e-commerce Southeast Asia growth wave |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 20 MAY: ASX closes 1.2pc higher, buoyed by tech | Nova Minerals unveils ‘significant’ lithium results at subsidiary Snow Lake’s project | Asian shares jump as China cuts key lending benchmark |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 MAY: ASX to slip as markets waver | Caravel confirms the copper keeps coming at Bindi West Limb |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 19 MAY: ASX closes 1.6pc lower; Wesfarmers, JB Hi-Fi tumble | Big-name investors, politicians embracing oil and gas | Indian shares fall nearly 2% on inflation jitters |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 MAY: ASX to plunge as inflation fears trigger Wall Street rout | Growth aplenty as Plenti delivers positive cash NPAT for FY22 |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 18 MAY: ASX rises 1pc; UK inflation surges to 40-year high of 9pc | Riversgold acquires key lithium ground in Pilbara | Shanghai lets financial firms resume work as COVID curb ease |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 18 MAY: ASX to rise amid broad rally in New York | Bitcoin above $US 30,000 | TMK Energy’s Snow Leopard-2 Drilling Underway |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 17 MAY: ASX rises 0.3pc; MinRes adds 5.7pc, Brambles falls 7.6pc | ASX rises 0.3pc; MinRes adds 5.7pc, Brambles falls 7.6pc | Indonesia posts largest ever trade surplus of $7.6 bln in April |

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 23 MAY: ASX ekes out gain; Codan soars 14pc, Incitec tumbles | Archer Materials granted Australian patent for CQ quantum computing chip | Japan April consumer inflation beats BOJ target for 1st time in 7 years |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 23 MAY: ASX to open lower | Labor sweeps to power | EZZ works to catch e-commerce Southeast Asia growth wave |

    Cabrera Capital Daily Game Plan

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 20 MAY: ASX closes 1.2pc higher, buoyed by tech | Nova Minerals unveils ‘significant’ lithium results at subsidiary Snow Lake’s project | Asian shares jump as China cuts key lending benchmark |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 MAY: ASX to slip as markets waver | Caravel confirms the copper keeps coming at Bindi West Limb |

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 19 MAY: ASX closes 1.6pc lower; Wesfarmers, JB Hi-Fi tumble | Big-name investors, politicians embracing oil and gas | Indian shares fall nearly 2% on inflation jitters |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 MAY: ASX to plunge as inflation fears trigger Wall Street rout | Growth aplenty as Plenti delivers positive cash NPAT for FY22 |

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    Danny’s View:  S&P 500 Finishes Lower After Choppy Session

    Danny’s View: S&P 500 Finishes Lower After Choppy Session

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    Danny’s View: ES Rallies 240 Points From The Low. How Much Gas Is In The Tank?

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    Taylor 3-Day Cycle – Polaris Trading Group

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 23 MAY: ASX ekes out gain; Codan soars 14pc, Incitec tumbles | Archer Materials granted Australian patent for CQ quantum computing chip | Japan April consumer inflation beats BOJ target for 1st time in 7 years |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 23 MAY: ASX to open lower | Labor sweeps to power | EZZ works to catch e-commerce Southeast Asia growth wave |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 20 MAY: ASX closes 1.2pc higher, buoyed by tech | Nova Minerals unveils ‘significant’ lithium results at subsidiary Snow Lake’s project | Asian shares jump as China cuts key lending benchmark |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 MAY: ASX to slip as markets waver | Caravel confirms the copper keeps coming at Bindi West Limb |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 19 MAY: ASX closes 1.6pc lower; Wesfarmers, JB Hi-Fi tumble | Big-name investors, politicians embracing oil and gas | Indian shares fall nearly 2% on inflation jitters |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 MAY: ASX to plunge as inflation fears trigger Wall Street rout | Growth aplenty as Plenti delivers positive cash NPAT for FY22 |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 18 MAY: ASX rises 1pc; UK inflation surges to 40-year high of 9pc | Riversgold acquires key lithium ground in Pilbara | Shanghai lets financial firms resume work as COVID curb ease |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 18 MAY: ASX to rise amid broad rally in New York | Bitcoin above $US 30,000 | TMK Energy’s Snow Leopard-2 Drilling Underway |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 17 MAY: ASX rises 0.3pc; MinRes adds 5.7pc, Brambles falls 7.6pc | ASX rises 0.3pc; MinRes adds 5.7pc, Brambles falls 7.6pc | Indonesia posts largest ever trade surplus of $7.6 bln in April |

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    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 23 MAY: ASX ekes out gain; Codan soars 14pc, Incitec tumbles | Archer Materials granted Australian patent for CQ quantum computing chip | Japan April consumer inflation beats BOJ target for 1st time in 7 years |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 23 MAY: ASX to open lower | Labor sweeps to power | EZZ works to catch e-commerce Southeast Asia growth wave |

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 20 MAY: ASX closes 1.2pc higher, buoyed by tech | Nova Minerals unveils ‘significant’ lithium results at subsidiary Snow Lake’s project | Asian shares jump as China cuts key lending benchmark |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 MAY: ASX to slip as markets waver | Caravel confirms the copper keeps coming at Bindi West Limb |

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 19 MAY: ASX closes 1.6pc lower; Wesfarmers, JB Hi-Fi tumble | Big-name investors, politicians embracing oil and gas | Indian shares fall nearly 2% on inflation jitters |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 MAY: ASX to plunge as inflation fears trigger Wall Street rout | Growth aplenty as Plenti delivers positive cash NPAT for FY22 |

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    Danny’s View:  S&P 500 Finishes Lower After Choppy Session

    Danny’s View: S&P 500 Finishes Lower After Choppy Session

    From the Desk of Wyckoff Trader

    From the Desk of Wyckoff Trader

    Danny’s View:  Weak Retail Earnings Send The S&P And Nasdaq Down  Over 4%

    Danny’s View: Weak Retail Earnings Send The S&P And Nasdaq Down Over 4%

    Danny’s View:  ES Rallies 240 Points From The Low. How Much Gas Is In The Tank?

    Danny’s View: ES Rallies 240 Points From The Low. How Much Gas Is In The Tank?

    Taylor 3 Day Cycle – Polaris Trading Group

    Taylor 3-Day Cycle – Polaris Trading Group

    Danny’s View:  S&P 500 Is Gapping Into Upside Target. Now What?

    Danny’s View: S&P 500 Is Gapping Into Upside Target. Now What?

    Chart of the Day: Breadbasket At Risk

    Danny’s View:  Investor Fear

    Danny’s View: Investor Fear

    Danny’s View:  It’s Time To Run The Upside Buy Stops

    Danny’s View: It’s Time To Run The Upside Buy Stops

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MrTopStep
Home Education Economics

Should investors and traders care about economics?

Vikram Rangala by Vikram Rangala
January 3, 2014
in Economics, MrTopStep, S&P 500
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Should investors and traders care about economics?
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Mark_TwainI was talking this week to one of Chicagoland’s leading custom home builders about the changes in his company’s business model since the credit crisis. That crisis had wiped out many competitors, who were mainly investors, sort of like house flippers (remember that?).

When they folded, they left their craftsmen out of work. Lakewest kept and expanded its workforce, who are, as you might imagine, skilled, motivated, and loyal. In short, his business model centers around keeping his workers doing work at the peak of their ability.

What the stock market or even interest rates do barely touches his business. Anything short of another crash means little to him. His economics are the demand for homes in Naperville and the well-being of his employees and family.

It got me thinking about one of my big questions: What is an economy for? As I’ve pointed out before, Milton Friedman never claimed that the economy’s purpose is to enrich corporate shareholders.

The New Capitalist view is that the purpose of an economy is to help people create opportunities for dignified, meaningful work and through that work, a chance to pursue happiness.

But the nearly 160% rise in the stock market since March 2009 has enriched shareholders. A $10,000 investment in the SPDR S&P 500 Index ETF [SPY:NYSE] in January 2009 is now worth $20,400.

The problem is, the effect of that hasn’t trickled down to the rest of the economy, which is doing better by many measurements, but not fully recovered from the self-inflicted wound we call the Great Recession.

To borrow from President Reagan’s famous question, “Are you 104% better off today than you were in 2009?” Some of you, yes. Most of you, no, at least not in money terms.

[youtube id=”QPKKQnijnsM” align=”left” maxwidth=”300″]As this viral video makes clear, we simply don’t realize how unequal we are. Studies show 92% of Americans agree that wealth is too concentrated in the hands of the wealthy. But even those people don’t realize how bad it is. It is 1929 bad. It is almost “Let them eat cake” bad.

Those 104-plus-percent gains that we talk about? 95% of that money went to the 1%. Most of it went to a fraction of that 1% that you could fit on a cruise ship.

Sure, they invested the most so they should get the most. No one argues that. But should that be the main way we measure how well we are doing? Is that what we built this machine called an economy to do?

After all, retail investors, the so-called Mom and Pop with their E-trade accounts, haven’t returned to the U.S. equity market in a big way and those who are investing are preferring small-caps and international stocks much more than they used to. So are the mutual funds that cater to retail.

In other words, the stock market is really two markets, one for big institutions and a different one, with different priorities, for retail.

OK, enough economics, already. Talk about the money!

Trading is best done amorally. There are limits, but when Warren Buffett does a major buy in Exxon-Mobil, he isn’t donating to the Destroy our Oceans and Suppress Middle East Democracy Fund. He’s just saying, as long as we’re still running on dinosaur remains, might as well take some of those profits and move it to better hands.

In the same way, my trading corn doesn’t mean I love Monsanto and GMO monoculture infestations. My trading cocoa doesn’t mean I support child labor. If I boycotted every product that had cruelty in its supply chain, I’d be naked, hungry, and homeless.

My trading can’t directly change macroeconomic reality, so why should I look to the news to tell me how to trade?

Take yesterday’s drop in the stock market. Was it caused by a collective New Year’s hangover? Was it because of the Fed? Or in spite of the Fed?

We all know the reason: Miley Cyrus. OK, I can’t back that up. But it’s about as good a “reason” as any other you’ll see on TV. The market dropped because it dropped. That’s all we know for sure that actually is so.

What we can do is identify the trend for a given time frame and follow it while maintaining contol over the only thing we can control: our thoughts.

And a trader’s thought should be this. If the markets are divorced from the reality we live in—and they are—then let’s accept it. Successful traders don’t worry or much care what the Fed does or doesn’t do or what the overall sentiment or buzz says. Many of them don’t even prefer one economic theory.

They follow price. They use logic on the field, compassion off the field, and humor always.

We don’t need to know a lot of the things we think we need to know. Because we often find out, after knowing them for sure for years, that they just ain’t so.

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