Nice rebound yesterday- just in time as another down session would have spooked a lot of the investors who have simply become complacent. We are seeing pent-up demand from the sidelines, mostly from professional investors woefully underperforming the market. The "smartest guys in the room" crowd simply overthought this thing from the lows back in March 2009. Still, for many, their bet is to now wait this rally out and maybe pick up the pieces later. However, that is still a losing proposition. In addition, unlike the doomsday cabal when pros have missed a five-year rally, they do not get accolades when there is a correction.
On that note, this earning season looms larger than at any time since the beginning of the rally, as acceptance of mediocrity expressed by terms like "green shoots" no longer matter- investors are looking for big news and bigger guidance.
The Wrong Model
On June 20, I took on The Container Store and other companies pushing the so-called Conscious Capitalism movement on my show, "Making Money with Charles Payne," on Fox Business. Any business that puts the environment, or other social issues, ahead of customers and profits is really a not-for-profit. The fact is that so many businesses want to be publicly traded, yet make the bottom line an afterthought is politically worrisome, even from an investment point of view.
Letter from our Chairman and Chief Executive Officer:
I would have to say that first and foremost, we're an employee-first, yummy company. "What does it mean to be yummy?" might be your next question. Well, it's the opposite of yucky. We know our employee-first mantra defies conventional business wisdom, most famously expressed by the late American economist Milton Friedman.
It's actually about creating this one-of-a-kind experience, where we operate our business with a focus on all of our stakeholders, but with our employees first.
Today, at 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for October 24th, 2014 | John Ransom
In Other News: List of "Useless Government Spending" Strangely Doesn't Include Biden's Salary | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 22nd, 2014 | John Ransom
In Other News: Massachusetts School Board Moves to the Right of Democrats - Becomes Socialist | Michael Schaus