Selected from so many Nits to Pick.
By Wolf Richter for WOLF STREET.
Collection - Tactics - Instances - Misnomers - Fake
This is a collection of 32 tactics, instances, misnomers, immortal fake propaganda, and even wrong-doing cropping up ceaselessly on Wall Street, in the media, in press releases, in earnings reports, and in the broader nexus between Wall Street and the media. All of them were pointed out by WOLF STREET commenters. I put them together and grouped some of them, and added some explanations in a few cases even when not needed. In no particular order:
#1: “The moronic statements regarding ‘money on the sidelines.’”
?money - Sidelines - Thing - Drives - Nuts
“That ‘money on the sidelines’ thing drives me nuts. I sit around wondering how captured financial commentators must be to even entertain such concepts on such a regular basis.”
“Money on the sidelines is immortal. It has been cited all my investing life, and it will still be cited long after I’m gone, to be passed proudly from generation to generation, no matter how often it gets debunked.”
Coin - Sidewalk - Sidelines - Money - Coins
“I found a coin on the sidewalk once. It must be the infamous sidelines money. Just a million coins more, and I will have enough to go on vacation.”
#2: “The claptrap surrounding earnings beats – after earnings targets have been quietly but drastically reduced.”
Forward - Earnings - Projections - Stock - Prices
#3: “Forward earnings projections” to rationalize high stock prices. Everyone is doing it, even the Fed. Forward earnings projections are part of the great body of American fiction and get slashed as earnings-report dates get nearer so that the much-lowered projections can then be “beat” (see #2 above). This produces the absurd situation where forward P/E ratios are always far lower (currently 18.4 according to FactSet) than the actual P/E ratios (currently 24.6, highest since the Financial Crisis).
#4: “The revolving door between government and Wall Street – ‘the swamp.’” Drain it already.
Door - Government
#5: “The revolting door between government...
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