Michelle,
Bill Meehan is chief market strategist at Cantor Fitzgerald cantor.com . Previous to that he held a senior strategist position at Prudential. Folks on this and MB's thread, including Bill Meehan, are hardly perma bears. Many of us enjoyed the bull market for many years until getting altitude sickness. Also many of us have many long positions and many income positions. For example, MB's current asset allocation is 50% options income, 40% 90/10 where the 90% is money market and the 10% is maximum annual options exposure/primarily puts and 10% capital appreciation. Even MB therefore has a maximum annual lose exposure to puts of 4% of his portfolio. Earlie, is a many year tech bull that feels pained to be a bear but has to let his value discipline guide him here. He writes a fine newsletter, called the Tech Review.
Meehan's clients actually are primarily mutual fund managers, hedge fund managers, etc. Most require fairly near full invested position due to their charters. Bill advises them often to raise cash near to the maximum they are allowed and has to come up with ideas for longs on a regular basis. He is largely a top down fundamental analyst, but at this juncture in the bull market cycle, feels he has to rely on technical analysis to find ideas for longs. Today on the radio, as a general statement, he said that he felt tech stocks might soon get the benefit of a bounce when momentum players left the cyclicals, which he doesn't find too convincing a long term play. So I envision Bill getting out charts and identifying tech stocks that have been oversold here.
Primarily, I would call Bill a value investor. He is going to call the market as he sees it. His strategy at any given juncture will reflect what he sees. Flexible...not a perma bear. And a great guy, too.
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