As always with single sector or single-country investing, you have to get both the overlaying area as well as the underlying holdings right, both absolutely and relative to other opportunities.
Nor is the headline figure a perfect reflection of economic health (though the underlying data is right useful).
"We believe we have the right underlying systems, policies and procedures to ensure a safe and robust out of hours service, " he said.
Therefore, not only do these speculators need the underlying to move in the right direction and within a certain time frame, but also by more than other option players are predicting.
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It is bolstered by the view that we are a country comfortable with the rule of law (with a few war on terror exceptions), an absence of rigid class distinctions and discriminations (at least lately), and an underlying tendency to do the right thing when the right thing needs doing (although, as Churchill remarked, often only after exhausting all other alternatives).
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My aim with this blog is to dig into some of the underlying problems afflicting the United States right now.
Mr Wallis, reworking the Bank's figures in this way (and, note, altering none of the underlying judgments), comes up with the right-hand chart.
Paying this kind of money, investors, it seems to me, have a right to know when a fund's underlying philosophy has changed.
But the underlying reason is that Mr Jospin and French voters, of both right and left, have an instinctive mistrust of globalisation.
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Jeffrey Rosen, chief economist at Briefing Research, said the underlying trends for the U.S. economy are headed in the right direction.
An option on a futures contract is the right, but not the obligation, to buy or sell the underlying security at a particular price within a specific time.
If these two economists are right, both the Bank and the Treasuiry might need to be less pessimistic about the underlying state of the UK economy - and more optimistic - and urgent - in their efforts to help.
Right now the markets are buoyant in the belief that the Eurozone governments are seriously addressing the underlying problems of sovereign debt.
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