Having recently opined [4] that "2015 was one of the most difficult markets in 50 years," the venerable Art Cashin has once again unleashed annual holiday poem:
‘Tis two days before Christmas
and at each brokerage house
The only thing stirring
was the click of a mouse
Down on the Exchange
the tape inches along
Brokers bargained and traded
as they hummed an old song
The Fed turned data dependent
or so they would claim
Yet they hiked in December
though the data looked tame
KC took the series
and the Pats grabbed the Bowl
While American Pharoah
had the Crown as his goal
Our girls took the World Cup
they were just over-joyed
And we found us a new star
who was named Carli Lloyd
Letterman, he retired
and he quick grew a beard
And so did Paul Ryan
I'm thinking that's weird
The Pope came to visit
and he drew quite a crowd
And hundreds of selfies
he even allowed
The Broadway play - "Hamilton"
as a show caused a flap
They've a sold out box office
with Founding Fathers who rap
Yet there's still Cosby and Kim K
they still don't bring us cheer
But it's Christmastime, Alice
And Santa is near
So stop looking backwards
have a cup of good cheer
And kiss you a loved one
raise your hopes for next year
And amidst all the trading
Christmas themes we will heed
And share our good fortune
with families in need
And tomorrow they’ll pause
as we wait on the bell
To sing a tradition
a song for old “Nell”
Don’t let this year’s problems
impede Christmas Cheer
Resolve to be happy
throughout the New Year
And resist ye Grinch feelings
let joy never stop
Put the bad at the bottom
keep the good on the top
So count up your blessings
along with your worth
You’re still living here
in the best place on earth
And think ye of wonders
that light children's eyes
And hope Santa will bring you
that Christmas surprise
So play ye a carol
by Mario Lanza
Unless you are waiting
to celebrate Kwanzaa
Hanukkah’s over
And Ramadan’s long gone
Different folks, different holidays
yet each spirit lives on
Whatever your feast is
we hope you all still
Find yourself just surrounded
by folks of goodwill
Thursday, as the bell rings
hark to your heart’s call
And as Santa would shout
Merry Christmas to All!
* * *
Or as Cashin wrote last week [4]:
"2015 was like commuting by rollercoaster. There were heart-stopping drops, there were nearly vertical ascents, and when it was all over you got off just about where you started and it cost you money. And not only was that true of the stock market, it was true of the yield on the 10 Year. The 10 Year is virtually where it began the year."
