Submitted by Tyler Durden on 08/08/2012 08:34 -0400
Morgan Stanley
None
Reality
The US stock market is up about 9% since June 1 despite weakening fundamentals for US companies and weakening economies around the world, including in Europe. Morgan Stanley's Adam Parker thinks the reason for the rally is investors’ dream that macro policy in the US and Europe will prove to be more effective this time around than in the recent past.
Perhaps the incessant calls of market participants that things must be good given the performance of the market in the face of weakness are simply investors exhibiting the 5 Kubler-Ross stages of grief at a new reality that doesn't cognitively fit with their hopes and dreams...
Sounds like insanity to me. Doing the same thing expecting different results!!
http://www.zerohedge.com/news/market-runs-buy-dream-mentality?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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