WP, Like you I think that markets are, in general, overvalued. I think that there is some day in the distant future where you will be seen as "right on." However, there are tradable rallies that can be played profitably before that day arrives when people no longer want to hear, talk, read, or think about stocks. Such a day, I figure is quite a ways off. A double-dip recession will do it. I read Fleckenstein daily, and he helps keep my head in place. In this time of "recovery," such as it is, it is hard to be negative on stocks.
Remember what Keynes said: "Markets can stay irrational longer than you can stay solvent." Anyway, I heard that he said this.
Please keep posting and include evidence in support of your views. We are all here to learn.
Cordially, Trindy |
