/Quick Point/ – Ireland Fails to Resurrect European Fears
Another sign that “macro-investing” is becoming obsolete:
On Friday (September 24) The Wall Street Journal led its front-page “Business & Finance” news brief column with supposedly dire news from Europe: Ireland was in trouble, meaning Europe was teetering again. This overwrought piece even resorted to “double dose” as a reminder of the now diminished “double dip” fears.
Today (Tuesday, September 28), we got “Ireland, Portugal Stir EU Fears.” The news? “… one of Ireland’s largest banks had its credit rating cut.” Not much there, so Portugal’s “political tensions” were added to the pot. Even the WSJ editors weren’t buying this time, leaving Ireland out of both the “Business & Finance” and “World-Wide” columns and relegating the article to page A-17.
So, what was in those columns today that outranked the “stirring of EU fears?” “Business & Finance” led with merger activity, followed mainly by corporate strategy news. “World-wide” led with North Korea, state taxes and the CIA in Pakistan. That column ran out of room for Ireland with references to FBI agents cheating on an exam and the record heat in Los Angeles.
/Quick Point/ – An observation relevant to current investment trends and recent Investment Directions’ articles.
