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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (1908)3/12/2004 7:53:37 PM
From: gregor_us  Read Replies (7) of 116555
 
As In Most Markets, There is an Over-Focus on Price.

For example, "bonds are expensive." And additionally, alot of this view is reinforced by The Masters, like Gross, who have watched yields their whole lives--and just figure they can't go lower. Everyone can imagine treasury yields going to 20%--but for some reason, no one can get their head around them going to zero %.

So there's little discussion of Value, when talking about bonds. And little discussion of the economy.

Reminds my alot of the Nasdaq Watchers. "Nasdaq 5000." Or, "Nasdaq 1000." Meanwhile, no discussion of earnings, or the outlook...

So I agree and it's hard not to: the crowd thinks it's "impoosible" for yields to go alot lower.

We know what this means.
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