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Love’s heralds should be thoughts,Romeo and Juliet, Act 2 Scene 5
Which ten times faster glide than the sun’s beams,
Driving back shadows over louring hills:
Therefore do nimble-pinion’d doves draw love,
And therefore hath the wind-swift Cupid wings.
That’s how Shakespeare described the speed of thought – ten times faster than the speed of light.
He was talking about thoughts of love, of course.
Thoughts of a stock market rally move even faster than that.
The word selection here in this Wall Street Journal headline is a masterclass in Narrative creation.
Even the obligatory counter-bullet beneath the headline is conditioned as merely a “pause”.
None of these words are accidental. They are all intentionally chosen to promote the idea of stock market rally that YOU need to participate in.
They are all intentionally chosen to appeal with particular urgency to the largest single demographic of Wall Street Journal readers – the value investor.
And it’s not just the Daily Diary of the American Dream ™. Here are today’s market headlines as compiled by RealClearMarkets.com on the left, and RCM’s complete list of today’s relevant “Entrepreneurs & The Economy” articles on the right.
I love that top market headline – “We Have Data To Prove That Best Is Yet To Come” – by ((checks notes)) Arthur Laffer. Yes, Art Laffer. On November 25 in the year 2020, Art freakin’ Laffer is the leading market voice of the day.
All of these article headlines have a market-positive theme and word selection, although my personal fave is “Janet Yellen Could Turn Out to Be a Great Treasury Sec’y”. Sure. Why not?
And as for ALL the articles you really need to read today on Entrepreneurs & The Economy … well, let’s just say that Ken Fisher’s “editorial staff” is …
No. You know what? I just can’t do it. I can’t make some sort of jolly joke about this. Four out of four articles placed by the marketing machine of Ken Fisher as a supposed “news aggregation” is just sheer mendacity. Stop it.
But that’s the point.
ALL of this is marketing. ALL of this is advertising. Whether it’s as obvious as the placement of Ken Fisher “editorial content” or as non-obvious as a WSJ headline … it’s ALL advertising.
This is the business model of the entire Wall Street ecosystem.
Will it work? Of course it will work. Advertising works! I’m not saying that this “Buy Cyclicals!” and “Buy Value! At Long Last! Buy Value! And Small Caps, Too, While You’re At It!” rally isn’t real. I’m not saying that it doesn’t exist or that it won’t continue. On the contrary, in fact.
I’m saying that you should reconsider what “real” means.