Quiet thread. I may as well post a few thoughts:
I doubt A.G. would say inflation is a problem now, so look for the Fed to talk things up a bit. We saw that with O'Neil at the G7, who said something like, Why is everyone so glum?
Stock market valuations more closely resemble reality, and there is less risk, in my opinion, in most stocks than there was over the last couple of years.
When I look at investment funds (and it's a horror show), the guys like Michael Price look pretty good again.
So maybe mathematics matters again, or the laws of physics have returned. Is that so bad?
In this recent rally, there was a fair amount of speculation in some small, out-of-the-way names. That's healthy, to a point. Contrast that to the nutty market of late '99 and into 2000.
This is how a market unwinds, and it has done so reasonably well, in my opinion.
Techies should keep on eye on this telcom bill under construction in Congress. There is a spirited debate on how best to go from here.
All only my opinion, and the usual disclaimers apply.
PB |
