So! I will, as a Sunday morning browser and occasional lurker here pose some questions of this great
guru, who like many, have been screaming BUY, BUY,...all the way down from 5000...has he ever heard
of debt? Has he ever heard of low employment, excessive( according to some economists) liquidity leftover from
Y2K? Has he ever heard of reversion to the mean, The concept upon which Longterm capital Mgmt was based, and AG had to bail'em out, even that Nobel economist dude, referring to general rule of economics, recognized by some pretty smart economists, in face of all time high valuation of the dollar? I for one have been here before but then I'm an old fart...I was here to remember "the calls for the 'end of equities as we know them' " back in 1974-75.
I for one do not think we have seen the end of this bubble pop, but then what the hell, I am probably wrong and there
will in my lifetime, be buyers of vaporous companies with no earnings, AND GE is historically cheap now
Just check on its p.e and PEG, and let's just see what value there is on GE Capital Mgmt's loans outstanding.
I think it is now time to revisit Voltaire's "Candide"...like Dr Pangloss said, even after the Great Lisbon
earthquake,..."...this is the best of all possible worlds, this is the best of all possible worlds..."
Good luck to all, especially those who see NAZ 20,000 before long.
Jim Black
PS, BTW, last I heard, average Joe is ~>60 % bullish, last I heard |
