For those of you who are new to Richard Russell, he’s the legendary author of the Dow Theory Letters. And he’s had a bullish slant on the economy and financial markets for a little while.
And he continues to be bearish. From his latest piece in King World News, he reflects about a recent bear market signal:
That bear market signal in early May — did it work or was something else going on? From its April low, the Dow has rallied back strongly, and I’ve been wondering, ‘Is something else going on, something more ominous than simply a bear signal for the economy and stocks in the United States?’
He also offers his take on Facebook and Mark Zuckerburg. To no one’s surprise, he’s not a fan:
I watched a movie about Zuckerberg on Bloomberg, and my conclusion is that the Zuck double-crossed a lot of ‘friends.’ I don’t think he’s a sweet guy. The word is that Facebook is too intrusive. Many people who value their privacy are leaving the Zuck. People are afraid that the Zuck could be a potential J. Edgar Hoover. Personally I wouldn’t trust Zuck to give me change for a dollar.
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