<o.t.> Hello Mike, not only I am econometric challenged <g>, but also I am simply too much of a lazy bum <sg> to pay attention to any detail whatsoever. So, to me, it boils down to 2 things, namely, GDP and Chain Deflator. Since they seem to divert, as they have been in the past couple of years, Goldilock remains as lovely as before. Of course, being a value investor, I actually don't mind a markdown of the ultra high p/e large caps; but alas, I am still waiting for Godot <VBG>!
p.s. it seems that revision of GDP is more a norm than an exception, it is more of how much and in which direction.
best, Bosco |
