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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (70487)9/27/2006 6:37:27 PM
From: orkrious  Read Replies (2) of 110194
 
I think it's been years since I posted anything from Fleck's daily missive. I know he doesn't want his stuff posted on the internet.

I can't imagine he has a problem with my posting tonight's last paragraph:

fleckensteincapital.com

Finally, most of us weren't in the business in September and October of 1973. Two I know who were have observed the similarities between the Dow's rally then and the one occurring now. That September/October rally was the last rally before the market got annihilated. In fact, after that rally ended in late October 1973, the market dropped close to 20% in a month's time. A year later, it was down almost 40% from those October highs. The macro backdrop is worse now than then, so it's worth contrasting that data with the euphoria I keep hearing about on Bubblevision.
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