AR, It is funny that Marty Zweig, who is a great guy, is always quoted when his fund performance has been awful over the years. So awful that the CEO of the fund co., a fella named Marty Zweig, removed Marty Zweig as portfolio manager. <G>
That being said, you can check the list of bull arguments I posted last week. The same stories are still being told. After all, Asia and Russia and Latin America are ok now, the US is growing rapidly, despite the numbers, and PE ratios are not high compared to the Nikkei at the top of its bubble. <G>
Most of what I hear is simply the euphoria that takes place before Xmas and after the majority of cos. reported lousy eps. AG is throwing money at the economy, and, the economy, with nothing productive to spend it on, is buying stocks. This is working so far, but there is a limit. I thought we had already reached the limit of the funny money game, but the fish are biting at the bait.
I still think that there has to be a connect between corporate earnings growth, which is awful, and pe ratios, which are grotesquely high. Not in every case, as there are exceptions. But in the majority of cases. That is totally out of whack.
MB |
