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Market Sentiment

Market Sentiment

“…The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities — that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to…

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Congress’ Approval Rating Reaches A New Low

Congress’ Approval Rating Reaches A New Low

Earlier this week Gallup announced that Congress’ approval rating among the American public had reached a new low of only 9%, down from the 10% approval rating reported from the last poll. This is by far the lowest rating that Congress has achieved since Gallup started asking Americans how they feel about Congress 39 years ago. Since 1974, the average approval rating has been 33%, reaching a high of 56% after the Sept. 11 attacks. I should state however that Gallup…

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Unproductive Congress

Unproductive Congress

The 112th Congress, which ended in 2012, was much criticized for being the least productive and most unpopular congress on record. However, the new 113th Congress, only six months into its term, is set to beat that record. According to a June Gallup poll, only 10% of Americans had confidence the institution, which is the lowest rating on record for any US government body — the rating has fallen from 13% last year. Only 15 legislative items have become law…

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