Narwhal Capital Management

Listening to Bloomberg Radio this morning, I heard a funny comment.  The announcer said comparing Greece to a train wreck is unfair to train wrecks!  At least the train wreck happens and is over in a heart beat, while the Greece-thing seems to be getting drawn out forever.

There is an old adage in the money management business, “Sell in May and go away.”  It basically alludes to the fact that most of the gains in the stock market are booked in the beginning and end of the year.  I’m unsure if this year it is May that will begin the summer doldrums, but I think the gist of this adage just might hold true in 2012.  Especially since this is a Presidential election year and there will be uncertainty heading into November.

Right now, what is a bigger mania: Tebow-mania or Apple-mania?

Tough call.  But I am excited to find out.

What do you do when a freight train is coming right at you?  You at least get out of the way and maybe jump on board.

It seems to me the powers that be want the markets to recover and rally.  These powers that be changed the accounting rules for U.S. banks in 2008, they disregarded contract law regarding creditors and bankruptcy in regards to GM, and now credit default insurance in regards to Greece will not pay-out as these powers have declared that the “haircut” on Greek Sovereign debt was not a default.  http://www.bloomberg.com/news/2012-03-01/greek-default-insurance-doesn-t-need-to-pay-out-after-bailout-isda-says.html

Choo-choo!!

For the longest time, the fundamentals of companies haven’t mattered.  Whether a company was growing, had a strong balance sheet, or was cheap didn’t matter one bit.  Rather all the moves in stock prices seemed to be either an entire market move related to “risk on” or “risk off” trades.

I see that changing in the near future.  Assuming the fear of economic doom subsides a bit, fundamentals will begin to take center stage as markets normalize.