Jay, I see your holiday has re-charged and re-energized you.
Don't disagree with much of what you say. In fact, made an after hours trade in GDX after reading your hair-raising stuff. Most of my purchases are at the 23-24 level, and am about sated.
Agree completely about SRS. With all the retailers bankrupting, who is going to rent mall space?
With all the banks scaling down, who will rent/own Class A space in NYC, Chicago, etc.?
I am a bit concerned about time effect, but have no way to analyze it.
Once velocity of money picks up, inflation is certain.
There are huge piles of cyberpaper will-o'-the-wisp sitting, hoarded. Globally. Once they emerge from their hibernation, they will move around restlessly. Inflation will hit.
I like energy a lot, particularly Canadian energy.
I bought VNR at 4.84, look at it now. Even better, look at its yield. Best - check out its hedges and counterparties.
Happy and Prosperous New Year to all! |
