CLUELESS

Moronic talk this morning from Mark Haines, which is not surprising, and Bob Pisani which does surprise me a bit. Mark applauding the action of the cash SPX or "NYSE floor traders" as the "Futures traders in Chicago" try to take down the markets. Hey Mark, how do you know its not someone who is trading from a beach in Bora Bora trying to make money. Did you ever here of electronic trading of SP Futures from a desktop computer? And if there are discrepancies between the cash SPX and the ES Futures, how long do you think that will last? A few seconds?

As for Pisani dissing the returns of hedge funds, well the returns probably don't equal those of the SPX of late, but they don't take on the risk of owning 100% stocks. Returns have to be measured against risk taken to achieve the returns. Got that Bob. And how might hedge funds have done in the period between 1966 and 1982 when the DJIA went from 1,000 to 1,000. My guess is outperform big time with a lot less risk. And how do you know, Bob, that the SPX will not be at 1,450 in 2015? Not sure if they just don't understand the simple concept of "hedging" or are just cheerleading owning equities.