Very interesting piece, sludgehound- thanks for posting it.
To the first topic- that the number of public companies has declined 43%, I did not realize it was that severe. But I have come to understand that under the 2012 Jobs Act (HR3606) the stock market as we know it today faces significant further obstacles to growth. Young companies can now crowd fund, by-passing Wall Street. Even large companies like facebook only went public reluctantly, they didn't need the money. But the SEC was uncomfortable with its 1,000 investors buying and selling in dark pools.
It may not be long before say, MWM- because he's out-front and ahead a lot, will be posting he just invested in a start-up through one of the crowd funding sites.
It behooves us to understand and follow crowd funding- it may not be our future home but it will likely be our second home, in time.
To the second point I've got religion- I flipped to "short only" about 5 weeks ago and feel much safer, accordingly. Shorting may seem a little daring but I think to have a portfolio of long positions now is positively frightening.
Well, I'm off to bring some food to a local homeless guy. He's my age and Mensa+.* We have good conversations until he starts raising his voice, acting out- personality disorders resulting from a severely difficult childhood. The point I wish to make is we can be brilliant and on the street.
MG
* I am decidedly not Mensa level. I'm one of those who has labored under the delusion I'm above average but really am not, LOL!
AI
