“Anyone who isn’t confused really doesn’t understand the situation.” -EDWARD R. MURROW, JOURNALIST POINTS TO PONDER 1. Until recently, it appeared as though the very sub-par expansion in the wake of the Great Recession was coming to an inglorious end. Over the last… Read More
“The future price tag of printing six trillion dollars’ worth of checks comes in the form of inflation and devaluation of currencies either relative to each other, or to commodities in less limitless supply such as oil or gold.” -PIMCO’S BILL GROSS 2012: Triumph of… Read More
“How long can the world’s biggest borrower remain the world’s biggest power?” -LARRY SUMMERS, FORMER US SECRETARY OF THE TREASURY 1. The US is presently trapped in the vise-grip of political paralysis irrespective of a less than impressive resolution of the fiscal cliff. Fortunately, despite… Read More
“Central banks cannot solve structural problems in the economy. We’ve been saying this for years and it’s getting tiresome.” -STEPHEN CECCHETTI, HEAD OF THE MONETARY DEPARTMENT FOR THE BANK FOR INTERNATIONAL SETTLEMENTS (BIS), THE WATCHDOG OF THE WORLD’S CENTRAL BANKS. In awe of a master. Read More
“The trouble with most people is that they think with their hopes or fears or wishes rather than their minds.” -WILL DURANT, author of The Story of Civilization Thanks, Sunny Jim! One of the joys of approaching 60, and having led a fairly… Read More
“There are no new eras-excesses are never permanent.” -BOB FARRELL, famed market technician POINTS TO PONDER 1. The economic forecasting firm ECRI, which has built one of the most accurate predictive records in the field, is still calling for a US recession. However, this view is… Read More
“Be patient and wait for markets to come to you. Patience is a position, too.” -JOHN MAULDIN , one of America’s most popular financial newsletter authors Will the “Curse of the Cover Story” strike again? Sometimes a magazine cover is worth a thousand… Read More
“Gold to me is not a commodity. It’s money.” -JIM GRANT, author of Grant’s Interest Rate Observer, in a CNBC feature interview this week with Maria Bartiromo. POINTS TO PONDER 1. Although the US mortgage market is no longer a systemic threat, student… Read More
“The higher the stock market advances, the more reason there is to mistrust its future action. Hence, a large advance…is basically a sign for caution and not a reason for confidence.” -BEN GRAHAM; GENERALLY CONSIDERED THE FATHER OF SECURITY ANALYSIS AND CREATOR OF THE GRAHAM-DODD… Read More
“The time to repair the roof is when the sun is shining.” -JOHN F. KENNEDY Special message: In the March 15th EVA, I emphasized that insider selling was running at an extreme rate. While this is true, the day after that edition went… Read More
