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David Batson
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Mr. Batson thinks the most important fundamental that ought to be considered when analyzing liquid assets is the necessary multidecadal trade-off in outperformance between stocks and commodities. This is a natural part of the business cycle that allows supplies of raw materials to be increased... More
  • Miley Cyrus And The Hemline Index 0 comments
    Aug 26, 2013 3:19 PM | about stocks: SPY, DIA, QQQ

    There is an old and storied market indicator that is not uncontroversial, particularly in today's hyper-feminist atmosphere which insists that "ladies" can act however they like with no consequences. From women marching down the street wearing next to nothing in international "SlutWalks" (literally) to the day-to-day fashions that I see on the streets of New York City, it would appear that the hemline has not only risen to some unimaginable new high, but disappeared all together.

    And nothing illustrates this phenomenon more clearly than Miley Cyrus's disgusting and shameful display at the Video Music Awards last night. I didn't watch the video. I couldn't. But there are plenty of pictures on the Internet showing how the former Disney star has "matured" (hint: not much). I like well choreographed and executed dance routines as much as anyone, but I don't go to strip clubs because I find that paying for that sort of show leaves me very cold. As Ayn Rand pointed out, sex is a spiritual value. You don't buy it with money, you earn it with virtues.

    But I don't have to go to strip clubs anymore to see such flagrant displays of hyper-sexuality. They are everywhere now, it would seem. Now, I am not generally a prude (although if you want to call me so for being disgusted by Miss Cyrus's display, feel free) and I am certainly no fashion maven, but given the extreme highs of the current stock multiples, the admission by the Fed that it is manipulating said multiples higher and the general euphoria surrounding the stock markets, here is one more call to say that even if the stock market can push a bit higher from here, it is going to have to do so without me. And, I strongly suggest that anyone reading this consider taking the same stance.

    Themes: Stock market, Hemline Index Stocks: SPY, DIA, QQQ
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