The Loudest Voice and Don’t Fight The Fed

A great name for a great show/series on Showtime about Roger Ailes the founder and head of Fox News Channel.

I actually hate saying great because of all the misery the fat prick seemed to leave in his trail and the complete deceit and mediocrity that America has settled for in media and ‘news’.

Seth MacFarlane really was good in his role.

I am headed east for a week leaving the comfy confines of Coronado to bring Rachel back home for her Senior year of college. She is wrapping up a summer internship at Rally Rd. One of my blog readers and Rally customers visited the store today and sent me this great picture of Rachel at Rally’s store in SOHO…

Rachel and I are going to visit family in Toronto for the weekend which should be fun.

As for the markets, the loudest voice in business TV (CNBC) did America a favor by running a ‘markets in turmoil’ special once again a couple nights ago. Historically, they are nearly perfect in pushing the panic button for ratings at market bottoms. Have a look (chart courtesy of @hatchinggains)…

Adding my two cents…I don’t think the markets are in turmoil. I think they are acting pretty damn well considering the complete lack of leadership from financial institutions, Congress and The Senate. I do worry we are entering a period of turmoil, but hope I am wrong.

There is a textbook saying in markets called ‘Don’t Fight The Fed‘ which basically means the loudest voice in financial markets is The Fed. Recently, Fat Nixon started talking over them and so while I won’t fight ‘The Fed’, I will continue to keep a higher allocation to cash. At 2.5 plus percent, cash is not a horrible place to not fight anyone and clear your head.