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Incompetence carries stock market higher

                Last week, the stock market rallied to new bear market highs.  There was no fundamental change on the economic policies, no significant improvement in the economy to justify the move, and not even evaluations were in favor of the move.  It seems that momentum, and only momentum was necessary to take the market higher.  The most ridiculous of the move was LEN, the worthless homebuilder stock (great shorting opportunity!) now at 16 bucks a share (worth maybe negative 35 cents).

                It is no surprise that the corporate financial balance sheets of most publicly traded company is in shambles.  Most are lead by absolute morons that live above their millionaire means, borrow their way into wealth and leverage other people’s money at any opportunity.  An example of such an incompetent executive is Jim Press.  Press is somehow unable to pay his bills with the undeserving pay size that he has gotten for decades.  Jim somehow drank himself into $1.35 million of debt for unpaid federal taxes and a personal loan.  I just find it incredible that individuals who can’t even manage their own income and pay their own taxes get promoted to executives.

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