Stock Market: Grateful To The Masochists

The stock market is in the hands of the masochists again and the cult of doom & gloom and his high priests (like perma recession-caller Roubini) sing the recession blues.

The stock market is now just a mirror of the gloomy sentiment and doesn`t display the fundamental data which is still positive. For instance since last year company profits rose 11% (scottgrannis.blogspot.com), but stocks (S&P 500) fell 3% (google.com/finance). The economy is recovering as a lot of indicators prove - like rising retail sales, climbing industrial production and dropping weekly jobless claims.

Some day this madness will end and the stock prices will climb to new highs. Then we  -  the investors  - might be grateful to the masochists who gave us the gift of low stock prices for investing.