And things are getting worse for my manly associates out there. According to a recently announced study by the Bureau of Labor and Statistics, (not that their stats are always on point but for this article we will go with them as a source) women are ringing up the accolades in the workplace and on the career front. And anytime there is statistical proof that women are doing something better than men, you know this will not be a trend we can stop, and mark down 2010 as the year that women will designate as the place and time when they took over. Yes that’s right boys, according to a Pew Research study, a whopping 20% of today’s married men enjoy the realized feeling of having a spouse who earns more than them. Granted I don’t know how that pans out in other areas, but these days one out of 5 guys doesn’t bring home the bacon. She does. Congrats. That # has increase 5 fold from 1970, when only 4% of married women earned more than their hubby.
http://www.washingtonpost.com/wp-dyn/content/article/2010/01/18/AR2010011803895.html
Women make up the majority of the workforce today, and they have seen seismic shifts in the opportunities to succeed in upper management positions. These days things seem to be getting a little easier for us men. Studies show men are working less, living longer, and reaping the benefits of their wives suddenly becoming the hunters, while they sit around and gather. This sounds good for the Golf Industry, with all these women working and men getting the house chores, this probably bodes well for NIKE, Callaway, American Golf etc. Unless men are going to take up manicures and pedicures in increasing #’s the odds are male dominated activities will see a significant up tick. Alright why am I doing so much ass kissing on our female counterparts? After all, said one friend who in the interests of his safety will remain nameless, it is about time. Men have been hunting for millions of years, and maybe it was Sarah Palin or something but some would say it’s about time the ladies picked up a rifle and took the lead in eating what you kill.
But not so fast Gents, not only is it about time, by a cursory examination of what us guys have done with the alpha dominant power bestowed upon us, we have basically flucked the whole damn thing up. I mean banking, housing, insurance, economy, education, foreign policy, domestic policy, you name it and right now we guys have basically screwed the pooch on running things. We may not be handing over much as we pass the torch and let the ladies do some heavy lifting for a millennium or two, but to be honest they can't do much worse. Good Luck ladies, you’re going to need it.
Today’s Shorts.....
I'm at my sons pre-k graduation so I will be brief, if you really want to know where I feel the markets are headed, check out my appearance last night on CNBC Fast Money.
http://www.cnbc.com/id/15840232?play=1&video=1504040268
The stocks I didn't mention on Fast, but the shorts have expressed interest in are IRE, NBG, STD(ewww what a symbol) HCS, BIDU, HAUP and PETS. Today looks green but there's not a reason why. The euro is strengthening, but word is that Switzerland and Swiss banks have been big buyers of Euros. Which sounds good; buyers of anything are scarce these day.
Head on a Swivel
I have been focused on global fears and to be honest US Banks continue to scare the spit out of me. I think US investors could get blindsided. Think about a football game, one of the most violent parts is a punt return, when you are on the punt team you need to sprint down the field, full boar, in your lane and keep your eye on the ball carrier. But as us coaches remind player time and again you need to keep your head on a swivel, as sometimes you focus too much down the field, and an opponent lines you up at an angle that allows them to mollywhop you. When you focus too much on what's all the way down there and don't stay alert to your immediate surroundings you can get japped out. We here in the US are content right now to watch Europe, and the Euro, and wait to see how they advance the ball, and we could get clipped, and bad. No one like to get blindsided, usually your teeth are chattering, you're on your ass, there's a loud gong sound in your head and a whole pack of snot on your face.
If we don't focus on the home front we may be the victims of a snot-knocking experience. Our banks and financials are on the brink, and without recapitalizing them there could be a whole other round of too big to fails for those ladies to deal with.
She wears the pants
Staying on the female front; I think this whole woman thing may have some merit. With all the turmoil roiling the globe, I read a great article this weekend in Time, on how as Global Stability hangs in the balance, we here in the US have turned over the rules, regs, oversight, and enforcement of our financial system to a serious pack of power women.
These are no powder puffs, Chairman of the FDIC Sheila Bair, was the first to sound the alarm about the dangers of sub-prime to the banking system. Her hard charging disciplined style has stabilized what could have been a catastrophe in our banks. On the securities front, you want investor protection, orderly markets, and kick-ass enforcement, look no further than SEC Chair Mary Schapiro, and rounding out the triple threat is Elizabeth Warren. Now being a Harvard-ite would typically exclude a policy maker from my list of faves, but Warren has pushed for tighter derivative regs, she's been abundantly forthright in pointing out where TARP failed and her idea for a Consumer Protection Agency while looking like more government could be the best thing to happen to investors and consumers in decades. People continue to say I'm Dr. Downside and I'm negative bla bla, but if you want to hear something I think is positive you heard it here first, the ladies are in charge and it could be one of the only good things we got going for us.
No Swiss Cheese Please
After all the prosciutto talk in yesterdays note, I thought I'd follow up with a little cheese.
Now I promised yesterday to give all you American blue blooded Anglos, a proper pronunciation of my favorite cheese, Mozzarella.
Fresh and Salted is the best. If you think I'm talking about Polly-o, think again, it is not even a consideration. Real fresh mootz is the only way to go. If you need to know where to find the real thing, shoot me a note and tell me where you live and I will track down the real deal for you.
I have heard so many poor pronunciations of mozzarella it’s disgusting. But I will try to get you to the right way, once and for all. It’s not Mozzarella, no zz is heard at all ever. Its not Muts-arell, or mutsa-rella, no the R shouldn't be heard either. If you want to say it and not get giggled at in an authentic pork store or Italian joint, say it like this... Muttsa-dell, if you want to add effect add the a on the end, Mutsa-dell-aaaaaaa. Now you got it.
Grab a slice of pra-jute put a sliver of fresh salted mutz on top, roll it up like a fruit roll-up and eat. Mmm, a delicious tasty treat.
Speaking of cheese, the story about Switzerland engaging in open market buying of Euros in my view is full of holes. The thought that Switzerland and any of its clandestine banking operations would take principal risk trading Euros is suspect to me and it’s got more holes in it than some Swiss cheese. History tells me the Swiss buying Euros is a bad sign. To me if they are buying, it isn’t for them. Switzerland is known as the land of neutrality for a reason. They are Switzerland, they play the middle. They don't take a side. A good thing to do but as a nation they will never be more than someone else’s bitch. In this case with the EU and IMF taking heat for open market ops to support the Euro coming under fire, its quite clear that these Eurozone entities are using the Swiss to do their bidding. And I said it before and I will say it again, the more governments and policy makers try to artificially stimulate free markets the deeper into turmoil we will fall.
As I finish this note, my son’s kindergarten class is being handed their diplomas, Lord only knows what the future of the global economy holds for their futures, but for today I see hope, and happiness.
Days like this make you realize no matter how crazy the globe looks, what's most important is what's right in front of us. I can't see the markets but I'm assuming they are green. Don't think it’s all over. There is a phenomenon called a dead cat bounce in market lingo, and it’s a reference to the idea that even if you drop a dead cat from high enough, it will bounce.
Watch out for falling cats, and keep your head on a swivel.
JT
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