There have been unexpected positives that are forcing big Institutional Investors off the sidelines even if the average didnt do much today, dow gaining 47 points, s p inch up, nasdaq advancing. People didnt see what im about to talk about coming. And its really changing the landscape. First, i dont know many who look back at the last week and august and thought we saw a surge in activity in the use. But if you look, youll see something uncanny among all the charts of the industrials and all tech stocks. Youll see a bottom. Thats right. Those stocks, which have been pretty much in free fall for most of the summer if not the spring, started their pivot right then, at the end of august. Ive been over and over that period, trying to figure what the heck changed the economy to turned those stocks around. The answer not much at all. If anything, we caught another leg of delegal raciieseceleratd. The dollar . No. The earnings . Nothing. They were almost uniformly bad. No, there was only one
That question is driving a lot of todays action. Climbing 79 points,some p sinking 4. 6 , nasdaq dipping 4. 7 . I think disconcerting for a number of reasons, we are going to go over them. I hear that amazon might be growing sales in a doubledigit clip yearoveryear, including this one, i think about how big amazon is, i regard that as a discouraging trend for everybody else because theres simply no way that one retailer could see such an enormous uptick without it being zero sum, amazons game is somebody elses pain. House of pain. Second, i see amazon doing well, i recognize that amazon could be say even worse than walmart in its demands on those who use its web services, let alow on the cutrate prices it offers. This company has spent billions building out its own online infrastructure in order to make a day like this one, cyber monday, seem like childs play meanwhile, target, which advertised so heavily this weekend for virtually every Football Game i watched saw its website crash, c
[inaudible conversations] [inaudible conversations] good morning. Welcome to the Miami Book Fair the 32nd annual celebration of books and happy sunday to everyone. Truly wonderful to have all of you here. Hopefully youve had an opportunity throughout the week and yesterday to enjoy some of the many sessions to perhaps purchase some books and some other of our highlights here at Miami Book Fair. I would like to give a special greeting to my friends at Miami Book Fair, lets give them a round of applause. [applause] we are truly grateful for your support and friendship over the years and as you may know, this could take place without the thousands of volunteers, faculty and staff of Miami Dade College and its eight campuses throughout Miamidade County so many thanks to Miamidade College. [applause] many thanks to Miamidade College and founder of this wonderful event. Its going to be another wonderful day that we close the book fare later on this evening. And so, please thank you to all th
Climbing 79 points,some p sinking 4. 6 , nasdaq dipping 4. 7 . I think disconcerting for a number of reasons, we are going to go over them. I hear that amazon might be growing sales in a doubledigit clip yearoveryear, including this one, i think about how big amazon is, i regard that as a discouraging trend for everybody else because theres simply no way that one retailer could see such an enormous uptick without it being zero sum, amazons game is somebody elses pain. House of pain. Second, i see amazon doing well, i recognize that amazon could be say even worse than walmart in its demands on those who use its web services, let alone the cutrate prices it offers. This company has spent billions building out its own online infrastructure in order to make e a a y like this one, cyber monday, seem like childs play meanwhile, target, which advertised so heavily this weekend for virtually every Football Game i watched saw its website crash, crash yet. Third amazon strength is the malls weak
Monday, seem like childs play meanwhile, target, which advertised so heavily this weekend for virtually every Football Game i watched saw its website crash, crash they just dont have it down yet. Third amazon strength is the malls weakness, i was heartened by very heartened by an interview that macys ceo gave at the end of last week, a lot of people werent paying attention. Listen to me, he said business has picked up. You can tell that somethings good here but then you look at the stock, no mood to listen. Macys went down into it after the disappointing earnings, the broad line mallbased retailer seemed to have been written off for the duration. Fourth, the mall site effect is just crushed by amazon. One of the reasons for the enclosed mall the synergy, walk through a nordstrom to get to a j crew, pass a neiman to get to a coach. It worked. Did your shopping at a mall by going past a bunch of stores and shopping in one after another. Now shopping at home. Speaking of home, many of our