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Reckless Stock-Market Leverage Intoxicates Politicians | Wolf Street

The sudden bloodletting that leveraged currency speculators experienced when the Swiss National Bank yanked the cap on the franc should have been a warning: central-bank promises that everything is under control are meaningless. And because of leverage, innumerable trading accounts blew up in a matter of moments.Leverage acts like a powerful drug. It creates buying pressure and inflates asset prices […]

Jeff Saut: In The Stock Market, The Primary Trend Is Still Up | Stocks …

After the workshop, another student took us out to Claiborne, the thoroughbred farm where Secretariat was buried. He was one of the great racehorses of all time. We went to his grave. He was buried in an eight-foot mahogany coffin with a gold satin lining. My student told me, “They don’t usually bury the whole horse, but he was special. […]