09/07/10 Tampa, Florida – I was surprised when Mike Burk of Alpha Investment Management wrote that “Some of the NYSE breadth indicators look pretty good, but that is from strength in fixed income which makes up about half of the issues traded on the NYSE. Fixed income looks like a bubble.”
Well, being an admittedly stupid guy who just wants effortless and instantaneous satisfaction of every desire, I am, as such, not really into the “nuts and bolts” of things.
Not surprisingly, then, I never heard that fixed-income makes up half of issues traded on the stock exchange, but it seems somehow important, in a menacing, sinister kind of way, like when I first noticed that my wife was no longer the same woman I had married, but was instead now some old crazy woman who thinks I can “change” after all these years of not changing.
So I wrote to Mr. Burk, and I was going to ask him, you know, as a kind of ice-breaking opener, if his wife thought, for some bizarre reason, that he could be “changed,” but instead I stuck to business and asked him if he was sure about this “half of the issues traded are fixed income” thing.
I was thinking that, you know, it seems so somehow strangely significant that I was hoping he could define “shares of fixed income.” (more)
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