Barron's today was mostly poor, with a couple of good pieces. 1. Abelson calls Bush a liar, which is great coming from a guy who hated Clinton. Alan is just mad because he fell for the bs bush originally laid out that he was going to use straight talk. C'mon, he's a politician and the son of a politician who was the son of a politician. He ain't really a cowboy, and, if he were, he would definitely be wearing a black hat and a moustache.
Andrew Smithers also claims that we haven't seen the last of the bear market, with at least as much to go on the downside as we saw at the bottom. Love that kind of talk.
2. a fluff article on BP.
3. Golf is a bubble, according to the next article. Loved it. I'd enjoy seeing all the gold courses go broke.
4. Bob Marcin was interviewed. I like him and he's a total contrarian. But he loves Tyco and Washington Mutual, so I have to wonder if he's been on drugs since he retired. However, his hatred of Amazon and Ask Jeeves makes me think he's just being suckered on the Tyc and the Wamu.
5. Buzz Zaino is also interviewed. I also like him, but he is super bullish. However, his picks are out of the ordinary, so I'll let him live.
6. More people are buying hedge funds as they are doing lousy. Say, what?!!! One of my colleagues stood up during a meeting and mentioned that one of our high fee fund of hedge funds was "doing exactly what is was supposed to do, up 2% so far this year." Folks, if they take a 2% mgt. fee, 20% of the profits and charge you commissions, I think they need to bring more than 2% to the bottom line every six months, especially during a rabid bull market. Oh, well, I guess customers aren't meant to have yachts. |
