Strat, Right now I see nothing that will pop this bubble that isn't already well known. But, to be fair, I saw nothing new that would kill it the other times the market was killed, either. Everyone talks about some shock from out of the blue that takes stocks down, but, in my experience, it is usually something that has been there all the time and just finally goes from back to front burner, such as the inflation implications of higher stock and bond prices, the looseness of money, currency growth among foreign holders, the phoniness of reported eps, etc. When it happens I don't know, but when it is overpriced, I buy puts. They eventually all come true big time and enough come true during the interim to still make the contrary case not only safer, but profitable.
It is true, as a newsletter writer, you are much better off going with the flow than being a contrarian. You sell a lot of sheets of paper until reality destroys your business. Then, you bring out a newsletter with a new name. -g- MB |
