About pebblewriter

I left Wall Street in August 2001 (95th floor of World Trade 2...timing IS everything) and continue to trade for fun and profit. I hold undergrad degrees in Math and Econ, an MBA and am a CFA. Which is all to say -- I have no excuse for the miserable mistakes I often make. This blog serves as a means to keep myself honest and my thoughts organized. It should not be construed as advice regarding any particular strategy or security.

Ignore the Headlines

Yesterday, it was The Guardian’s phoney “Euro Zone is saved” leak.  Today, it’s CNBC’s  “Housing Starts Jump 15%.” Sure enough, when you dig into the story, you see that it was annualized multi-family starts that jumped (53%).  Single-family slumped — to a measly 1.7% annual increase.  Of course, that won’t stop the requisite bump in … continue reading →