Tuesday April 27, 2010
The licensing rights for the Peanuts Gang has been sold for $175 M. I make this post as a socionomic observation. Market highs tend to be inclusive, people want to joint together. Acquisitions are made, mergers occur, white knights emerge. This never happens at market bottoms when things are cheaper. The reason is that fear rules the day. People become exclusionary.
Every day for example we get another announcement of another Greek bailout only to see it fail the next day. Hard times, hard attitudes. Greece will no doubt bail out of the EU agreement. The bailout terms are either not coming or will be too harsh for the politicians to sell to the heavily socialized Greek economy.
Greece, Portugal are a glimpse of where we are going. A protest rally of 15,000 showed up in IL the other day. Protests, coming to a unionized state here soon, shades of the 60s. Understanding why all this is happening will help you endure it.
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