There is nothing like waking up in the morning and pulling out the good old blackberry, (sorry, I'm old school) and reading via my twitter feed that Jamie Dimon sees little impact from Greece default. After that I turned off the alarm, because there is no longer need to worry and slept for another hour or so! Thank goodness we have bankers to tell us how to think!
Well I won't go into a tirade, there are plenty of other people I can link to that deserve the credit. Of course, Zero Hedge, had an immediate response. (Weather you like the site or not, thank goodness we have a free press.) Even the "highly analytical" Business Insider produced a simple slide show, two months ago. If Jamie is so unconcerned, maybe we should stop with the whole Bernanke ZIRP (Zero Interest Rate Policy) and he can start marking to market JP Morgan's balance sheet.
#If your bullish don't watch this: Charles Biderman Explains The Bullish Market Ponzi, video via Zerohedge.
#Congressional portfolios: Politicians are the best traders. video via 60 minutes.
#CNBC investigates: Most Share Buybacks Don't Pay Off for Investors. The following is probably true in the long run, just ask Eddie Lambert of Sears. On the contrary, let's not forget the robots see buybacks in the news feed it can send the stock up 11% in one day, just look at Dick's Sporting Goods. Below are the best and worst performing stocks of 2012. Do you see a trend?
For the best and worst preforming stocks of the month, click here.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.