Recently, there have been many indications that we are about to enter a bear market. High P/E's, overcapacity as exemplified by recent layoffs by Kodak and Levi Strauss, turmoil in Asia--- what are we to make of all this? This may all blow over...but what if it doesn't?
I'm interested in both macro-economic discussions and investment strategies based on them. What industries or companies survive best in an overinflationary environment? What if we enter an era where a P/E of 12 is looked on as speculative? Are we supposed to take our money and just buy treasury bonds for a while? Can we short stocks when there are no buyers? |
