Bears, Beats, Bitcoin
In honor of my favorite vignette from The Office… Question: What kind of bear is best? ‘Tis the season for market predictions (and forgetting last year’s predictions). The optimists predict low single digit returns for equities. The bears predict bear things. Which means no one expects even decent stock market returns. Now more than ever it makes sense to hold a portfolio that doesn’t require you to predict the future to be successful. Bears Eat Beets Schwab’s Jeffrey Kleintop points out that while stocks have gone up every month this year, so have earnings. Battlestar Galactica Bitcoin is going bananas yet again. Charlie Bilello has tracked bitcoin sentiment via Twitter polls at major milestones which is fascinating. He also occasionally marks bitcoin’s “market cap” (or whatever you want to call it) which has hit $214 billion. OMG! That’s more than Home Depot!!! Calm down, Apple’s cash hoard is around $270…