This week’s Barron’s is disappointing in that Randall Forsyth is missing for the second straight week. Ben Levisohn, filling in at the Up & Down Wall Street spot isn’t nearly as good, IMHO. Levisohn addresses Friday’s disappointing jobs numbers - but I’m not quite sure where he’s going …
Generally, this week’s publication reflects a highly bullish tone. Several articles mention a continuing accommodative Federal Reserve stance. One article is titled “A Homebuilder Stock That Could Soar 65%”. Another bullish take appears in the magazine’s lead article, “The Trader” with its headline: “The Trend is Your Friend.”
One note of dissension appears from perma-bear Alan M Newman in the section featuring recent “snippets” from different market pundits. Here’s a brief excerpt:
“There are now so many parallels with history-making manias such as the South Sea Bubble, the Roaring ’20s, Tulip Mania, and even the relatively recent Tech/Internet Bubble that the present era in retrospect, may one day appear the craziest of all …. Today’s parallels are every bit as crazy, even hilarious. While the blockchain technology that many of the roughly 4,500 invented crypto currencies is based on is valid, there is ample reason to dispute valuations …
A Google search for ‘intrinsic value of Dogecoin,’ returns ‘..has no intrinsic value’. Thus, Dogecoin has turned out to be the 2021 equivalent of “carrying on an undertaking of great advantage but no-one to know what it is.’ You can’t make this stuff up, folks.” *
There’s an in-depth look at SEC Chair Gary Gensler’s efforts to overhaul equity trading platforms with the goal of making the prices paid by small investors fairer. Robinhood, particularly, is in his cross-hairs. Gensler likes to shake thing up. One may recall about a dozen years ago when he took on the mutual fund industry, publicly decrying what he considered excessive fees - at the same time his twin brother Robert managed one of T. Rowe Price’s largest equity funds.
* Excerpted passage from Barron’s - September 6, 2021
Feel free to add other opinions from Barron’s or other sources / pundits you may follow.