Tim Cook sent Jim Cramer of CNBC an email saying, essentially, that China's going very well for the company, thorough July and August. Activation and App Store activity are "accelerating" according to him.
I hope Apple is buying the hell out of its stock as we speak. Even if it means bringing money back from abroad and paying taxes on it. There's no need to even do a calculation.
I think that, a month from now, people will be kicking themselves for not putting their spare cash to use.
This is happening world wide. It's only the beginning
Since 2008, these massive gyrations bother me less. I understand that markets operate based on their own special brand of herd mentality and they are ultimately meaningless, despite what the news would have you believe.
Will be interesting to see where this closes. looks like a nice pop as people are bargain shopping, but expect to see stocks (all of them, not just Apple) slowly work their way back down through the day and maybe week.
Do you have an iota of evidence that Keynesian policies have been a "tremendous anchor on said progress"? Does it, for example, matter whether we're in a recession or boom?
He panicked? Cite? "Only the government (rulers)... can protect us"? Have you even bothered to read Keynes? What if I were to tell you that he never said that, and you're making an utterly ignorant statement? (But knock yourself out).
The comparison to Bush is silly. I have no idea what the analogy to 9/11 and TSA even means.
Um... who credited "Keynesian economic policies with the growth of the 20th century"? Where? Stop setting up straw men or making up stuff.
Yep, I'm familiar Keynes, his ideas and those who consider him a patron saint. He's not that deep, just a different methodology for trying to game the system, ultimately he's no different than any other "ends justify the means" types.
And spare me the debate buzz word cheat codes tactics, you brought up both Keynes and growth during some weird Ayn Rand tangent and backed it with nothing more than a cheesy slight on objectivists. That's some lazy pol team fan behavior, and the Randian canard is a hallmark of very particular brand of corrupt bureaucrat worship and zealotry.
The man's own words are only one piece of that deduction, his resulting actions and historical context add much more to that conclusion. He's the textbook example of someone who advocated trading liberty for security, just in economic terms. If you don't understand the parallel to Bush, 9/11 and the resulting TSA, then you should sincerely try thinking outside your pol team echo chamber and set aside some time for quiet reflection.
"The Bill Clinton Myth goes something like this. After “mismanagement” of the economy by President George H.W. Bush, which resulted in the recession that coincided with the 1992 election, Clinton took office and “managed the economy” wisely during his eight year presidency. Clinton’s “centrist policies” were just what the economy needed at a time of technological revolution, and his wise stewardship resulted in not only unprecedented growth and low unemployment for the economy, but balanced budgets and even surpluses for the federal government. By the time Clinton left office, the United States was more powerful economically than it had been at any time in its history.
Like the Populist Myth of the 19th Century, this one is a great story, but none of it is true. While even some Republicans begrudgingly credit Clinton with the mythical budget surpluses or the equally mythical prosperity in the 1990’s, they do themselves a disservice in regard to their quest to discredit every Democrat who ever (or will ever) lived.
In reality, there were no federal government surpluses. The lion’s share of the prosperity was a Federal Reserve-created bubble (the dot com bubble) and what real economic growth there was occurred despite Clinton’s policies, not because of them.
It might be necessary to go back and read that last sentence again. It is heresy, as surely as Galileo’s heliocentrism was to the Inquisition. It’s also just as true."
From the article: So any way you count it, the federal budget was balanced and the deficit was erased, if only for a while.
<p style="border:0px;color:rgb(68,68,68);margin-bottom:5px;vertical-align:baseline;"><span style="border:0px;font-style:inherit;margin:0px;padding:0px;vertical-align:baseline;"><span style="border:0px;color:rgb(128,0,0);font-style:inherit;margin:0px;padding:0px;vertical-align:baseline;"><span style="border:0px;font-style:inherit;margin:0px;padding:0px;vertical-align:baseline;">Q: </span>
</span>
</span>
<span style="border:0px;font-style:inherit;margin:0px;padding:0px;vertical-align:baseline;">During the Clinton administration was the federal budget balanced? Was the federal deficit erased?</span>
</p>
<p style="border:0px;color:rgb(68,68,68);margin-bottom:5px;vertical-align:baseline;"><span style="border:0px;font-style:inherit;margin:0px;padding:0px;vertical-align:baseline;"><span style="border:0px;color:rgb(128,0,0);font-style:inherit;margin:0px;padding:0px;vertical-align:baseline;"><span style="border:0px;font-style:inherit;margin:0px;padding:0px;vertical-align:baseline;">A: </span>
</span>
</span>
<span style="border:0px;font-style:inherit;margin:0px;padding:0px;vertical-align:baseline;">Yes to both questions, whether you count Social Security or not.</span>
</p>
Read the bottom of the link you provided. They updated the information on the bottom as an addendum and failed to update the text in the main post.
Will be interesting to see where this closes. looks like a nice pop as people are bargain shopping, but expect to see stocks (all of them, not just Apple) slowly work their way back down through the day and maybe week.
Yes they will recover, but the best stock like AAPL recover first.
There are several negative factors in the world contributing to this market downer.
We will have to work through several before a good recovery.
IMO China is a lesser factor, China's "slight" downturn (really a slowing of their growth) is very overblown.
You bet your life Wall St is involved in market manipulation.
The market insiders love these significant dips, that's how they get rich off the typical scared investors who sell off low.
A steady market going in one direction the insiders hate !
And who forces the price low? Who forces scared investors to sell low? Absolute nonsense. There are just as many people with just as much buying power who are invested in the stock price rising. The only thing "manipulating" the stock price is the reality of expectation and market forces.
And who forces the price low? Who forces scared investors to sell low? Absolute nonsense. There are just as many people with just as much buying power who are invested in the stock price rising. The only thing "manipulating" the stock price is the reality of expectation and market forces.
Huge fluctuations can be caused by very few people who understand how the stock trading system works. It's all a man-made system:
"Sarao was arrested last month after the US Department of Justice claimed he had made $40m (£27m) by “spoofing” financial markets, using commercially available trading software to place $200m of false trades from his parents’ home in Hounslow, west London.
The Americans said Sarao’s supposed manipulation contributed to the so-called flash crash on 6 May 2010, when the Dow Jones industrial average plunged 600 points in five minutes, creating havoc on Wall Street."
That guy says he's being used as a scapegoat, it clearly wasn't just him involved, there are big firms doing this all the time. People with enough money can pay for direct access via computers to place trades:
Where's Hameta, he can explain about stock market villain. Anybody can do this to the market any time they want with the right software and access. Some activity like this is done at the end of trading days to artificially manipulate the closing prices. They may eventually get caught out by the law but how often does that happen to white-collar criminals? It's deliberately made complex enough that even if someone was caught causing a huge fluctuation, they likely wouldn't know how to prosecute them or for what crime. When you can spoof trades or just do any trade with assets you don't have then you can make millions very quickly so it can happen in a small timeframe and the people involved can disappear with the gains and it just looks like a blip.
Tim Cook should really ignore this kind of thing too or use it as a buying opportunity. Sending out personal emails about the company performance to try and correct it isn't a good thing to do:
Computer trading is supposed to provide more liquidity, markets can become dependent on this and when it goes wrong then it causes the crashes to happen:
"U.S. equity market structures as they have developed over the last 10 to 15 years have failed to keep pace with rapid changes in technology and the changed roles of market makers. This has increased the potential for market fragmentation and the potential for temporary disconnects between some equity ETFs and their intrinsic value when market makers react to market volatility by stepping away from providing liquidity.
While it is of some comfort to understand why ETFs were swept into the market instability on the 6 of May, it is encouraging that the ETF industry is working with regulatory and industry partners to help mitigate the effects of similar events in the future and help ensure ETF prices remain stable in the face of liquidity shocks. When our markets do not function in the interests of investors, they need to be fixed. ETF providers are working together with others to move quickly to address this concern."
Algorithmic trading seems to me to be highly anti-competitive and is capable of causing very widespread damage very quickly because they can build momentum that influences human trading. If a human trader saw the stock take a fast dive, the smart thing to do to make a profit would be to sell everything and then buy back in when it bottomed out. Who would pass up an opportunity to make 15% profit in a few minutes or hours? Nobody wants to get burned by huge losses either.
There are combinations of manipulation. Media outlets (social media included) can help drive things too and there's the ever-present issue over what is a sensible value to place on something:
The danger with value systems that are used as proxies for items of tangible value is they can grow completely out of sync with tangible items. If we assume that all of the assets and services in the world have an intrinsic and tangible value, then creating a proxy of that value in currency to allow people to exchange freely, doubles it out of thin air. When that currency can be used to create more intangible value then it can get way out of sync. It has to be this way though because currency is mirroring a changing world where new ideas and products haven't been accounted for by the value of raw materials. A static form of currency would simply run out of supply.
The best that can be done is to remove the ability for people to create highly unstable markets. This can start with preventing high frequency trades. Make a law that says no trade can execute faster than it takes a light signal to travel half way round the earth ~0.133s. No end of day trading manipulation, no millions of fraudulent orders, just steady trading that human beings can react to much more readily. They can also cap the trading volume in a given time like the way that Apple limits how many iPhones you can buy at launch. If you want to buy or sell $1b of shares, what's the rush? Cap it at a certain buy/sell rate.
Comments
I hope Apple is buying the hell out of its stock as we speak. Even if it means bringing money back from abroad and paying taxes on it. There's no need to even do a calculation.
I think that, a month from now, people will be kicking themselves for not putting their spare cash to use.
It hit a morning low of $92. Whoa. Flash crashes everywhere today.
This is happening world wide. It's only the beginning
Looks like panic is setting in, time to invest in adult diapers. Plop, plop, whiz, whiz. Oh, what a relief it is.
Since 2008, these massive gyrations bother me less. I understand that markets operate based on their own special brand of herd mentality and they are ultimately meaningless, despite what the news would have you believe.
Will be interesting to see where this closes. looks like a nice pop as people are bargain shopping, but expect to see stocks (all of them, not just Apple) slowly work their way back down through the day and maybe week.
Yep, I'm familiar Keynes, his ideas and those who consider him a patron saint. He's not that deep, just a different methodology for trying to game the system, ultimately he's no different than any other "ends justify the means" types.
And spare me the debate buzz word cheat codes tactics, you brought up both Keynes and growth during some weird Ayn Rand tangent and backed it with nothing more than a cheesy slight on objectivists. That's some lazy pol team fan behavior, and the Randian canard is a hallmark of very particular brand of corrupt bureaucrat worship and zealotry.
The man's own words are only one piece of that deduction, his resulting actions and historical context add much more to that conclusion. He's the textbook example of someone who advocated trading liberty for security, just in economic terms. If you don't understand the parallel to Bush, 9/11 and the resulting TSA, then you should sincerely try thinking outside your pol team echo chamber and set aside some time for quiet reflection.
Quote:
Nope:
"The Bill Clinton Myth goes something like this. After “mismanagement” of the economy by President George H.W. Bush, which resulted in the recession that coincided with the 1992 election, Clinton took office and “managed the economy” wisely during his eight year presidency. Clinton’s “centrist policies” were just what the economy needed at a time of technological revolution, and his wise stewardship resulted in not only unprecedented growth and low unemployment for the economy, but balanced budgets and even surpluses for the federal government. By the time Clinton left office, the United States was more powerful economically than it had been at any time in its history.
Like the Populist Myth of the 19th Century, this one is a great story, but none of it is true. While even some Republicans begrudgingly credit Clinton with the mythical budget surpluses or the equally mythical prosperity in the 1990’s, they do themselves a disservice in regard to their quest to discredit every Democrat who ever (or will ever) lived.
In reality, there were no federal government surpluses. The lion’s share of the prosperity was a Federal Reserve-created bubble (the dot com bubble) and what real economic growth there was occurred despite Clinton’s policies, not because of them.
It might be necessary to go back and read that last sentence again. It is heresy, as surely as Galileo’s heliocentrism was to the Inquisition. It’s also just as true."
http://www.tommullen.net/featured/the-bill-clinton-myth-finally-debunked/#sthash.non7BcVt.dpuf
Who is Tom Mullen?
http://www.factcheck.org/2008/02/the-budget-and-deficit-under-clinton/
[B]"The debt the government owes to the public decreased for a while under Clinton, but the debt was by no means erased."[/B]
^^^ You didn't even bother to read your own source:
"The debt the government owes to the public decreased for a while under Clinton, but the debt was by no means erased."
From the article: So any way you count it, the federal budget was balanced and the deficit was erased, if only for a while.
Q: During the Clinton administration was the federal budget balanced? Was the federal deficit erased?
A: Yes to both questions, whether you count Social Security or not.
I disagree. Wall Street got what they wanted: They got a bunch of cheap shares from high quality companies.
They manipulated this crash now they are going to manipulate a boom. I can see the market going up nicely to close the year.
The worries about China is total bull.
Wall Street is not a single entity that thinks with one mind. No one is manipulating anything.
Read the bottom of the link you provided. They updated the information on the bottom as an addendum and failed to update the text in the main post.
Won't help current AAPL stockholders, but a great buying opportunity for all when AAPL hits bottom.
A good time for Apple to buy back their own stock?
Yes I'm getting ready to buy back what I sold at $133, but I know waiting for the bottom is impossible.
When AAPL drops to my buy point I'll do it. If AAPL and the market tend higher after this market silliness, I'll still do it.
You have to be absolutely insane to think this.
You have to be absolutely insane to think this.
Quite the reverse.
Extraordinary claims require extraordinary proof and, as usual, you have none.
I disagree. Wall Street got what they wanted: They got a bunch of cheap shares from high quality companies.
They manipulated this crash now they are going to manipulate a boom. I can see the market going up nicely to close the year.
The worries about China is total bull.
Wall Street is not a single entity that thinks with one mind. No one is manipulating anything.
You bet your life Wall St is involved in market manipulation.
The market insiders love these significant dips, that's how they get rich off the typical scared investors who sell off low.
A steady market going in one direction the insiders hate !
Will be interesting to see where this closes. looks like a nice pop as people are bargain shopping, but expect to see stocks (all of them, not just Apple) slowly work their way back down through the day and maybe week.
Yes they will recover, but the best stock like AAPL recover first.
There are several negative factors in the world contributing to this market downer.
We will have to work through several before a good recovery.
IMO China is a lesser factor, China's "slight" downturn (really a slowing of their growth) is very overblown.
You bet your life Wall St is involved in market manipulation.
The market insiders love these significant dips, that's how they get rich off the typical scared investors who sell off low.
A steady market going in one direction the insiders hate !
And who forces the price low? Who forces scared investors to sell low? Absolute nonsense. There are just as many people with just as much buying power who are invested in the stock price rising. The only thing "manipulating" the stock price is the reality of expectation and market forces.
Huge fluctuations can be caused by very few people who understand how the stock trading system works. It's all a man-made system:
http://www.theguardian.com/business/2015/aug/14/flash-crash-trader-navinder-singh-sarao-granted-bail
http://www.theguardian.com/business/2015/may/20/flash-crash-trader-navinder-singh-sarao-loses-bail-appeal
"Sarao was arrested last month after the US Department of Justice claimed he had made $40m (£27m) by “spoofing” financial markets, using commercially available trading software to place $200m of false trades from his parents’ home in Hounslow, west London.
The Americans said Sarao’s supposed manipulation contributed to the so-called flash crash on 6 May 2010, when the Dow Jones industrial average plunged 600 points in five minutes, creating havoc on Wall Street."
That guy says he's being used as a scapegoat, it clearly wasn't just him involved, there are big firms doing this all the time. People with enough money can pay for direct access via computers to place trades:
http://www.thisismoney.co.uk/money/news/article-3194191/SPECIAL-INVESTIGATION-shadowy-high-tech-traders-using-WW2-radio-mast-cream-billions-pensions.html
The AAPL graph was the following:
Where's Hameta, he can explain about stock market villain. Anybody can do this to the market any time they want with the right software and access. Some activity like this is done at the end of trading days to artificially manipulate the closing prices. They may eventually get caught out by the law but how often does that happen to white-collar criminals? It's deliberately made complex enough that even if someone was caught causing a huge fluctuation, they likely wouldn't know how to prosecute them or for what crime. When you can spoof trades or just do any trade with assets you don't have then you can make millions very quickly so it can happen in a small timeframe and the people involved can disappear with the gains and it just looks like a blip.
Tim Cook should really ignore this kind of thing too or use it as a buying opportunity. Sending out personal emails about the company performance to try and correct it isn't a good thing to do:
http://www.zerohedge.com/news/2015-08-24/did-tim-cook-violate-regulation-fair-disclosure-emailing-jim-cramer-save-aapl-stock-
Computer trading is supposed to provide more liquidity, markets can become dependent on this and when it goes wrong then it causes the crashes to happen:
http://www.zerohedge.com/news/2015-08-24/meanwhile-beneath-surface-market-liquidity-worse-during-flash-crash
BlackRock has an article about the 2010 crash:
https://www.blackrock.com/corporate/en-ch/literature/whitepaper/understanding-the-flash-crash-nov-2010.pdf
"U.S. equity market structures as they have developed over the last 10 to 15 years have failed to keep pace with rapid changes in technology and the changed roles of market makers. This has increased the potential for market fragmentation and the potential for temporary disconnects between some equity ETFs and their intrinsic value when market makers react to market volatility by stepping away from providing liquidity.
While it is of some comfort to understand why ETFs were swept into the market instability on the 6 of May, it is encouraging that the ETF industry is working with regulatory and industry partners to help mitigate the effects of similar events in the future and help ensure ETF prices remain stable in the face of liquidity shocks. When our markets do not function in the interests of investors, they need to be fixed. ETF providers are working together with others to move quickly to address this concern."
https://en.wikipedia.org/wiki/High-frequency_trading#Market_making
https://en.wikipedia.org/wiki/Direct_market_access
Algorithmic trading seems to me to be highly anti-competitive and is capable of causing very widespread damage very quickly because they can build momentum that influences human trading. If a human trader saw the stock take a fast dive, the smart thing to do to make a profit would be to sell everything and then buy back in when it bottomed out. Who would pass up an opportunity to make 15% profit in a few minutes or hours? Nobody wants to get burned by huge losses either.
There are combinations of manipulation. Media outlets (social media included) can help drive things too and there's the ever-present issue over what is a sensible value to place on something:
http://www.forbes.com/sites/robertlenzner/2014/02/22/the-stock-markets-valuation-is-at-a-dangerous-115-2-of-the-gdp/
http://www.gurufocus.com/stock-market-valuations.php
The danger with value systems that are used as proxies for items of tangible value is they can grow completely out of sync with tangible items. If we assume that all of the assets and services in the world have an intrinsic and tangible value, then creating a proxy of that value in currency to allow people to exchange freely, doubles it out of thin air. When that currency can be used to create more intangible value then it can get way out of sync. It has to be this way though because currency is mirroring a changing world where new ideas and products haven't been accounted for by the value of raw materials. A static form of currency would simply run out of supply.
The best that can be done is to remove the ability for people to create highly unstable markets. This can start with preventing high frequency trades. Make a law that says no trade can execute faster than it takes a light signal to travel half way round the earth ~0.133s. No end of day trading manipulation, no millions of fraudulent orders, just steady trading that human beings can react to much more readily. They can also cap the trading volume in a given time like the way that Apple limits how many iPhones you can buy at launch. If you want to buy or sell $1b of shares, what's the rush? Cap it at a certain buy/sell rate.