Price Signals

Finance, Economy, Markets, Life

Monday, June 18, 2012

Great quote from John Hussman

Investors have a large number of trees to occupy their focus - Greek austerity, Spanish banks, Italian yields, U.S. economic data, Fed policy, earnings preannouncements (just ahead) and so forth. On a day-to-day basis, developments on any one of these fronts may bring fresh concern or relief. The larger issue is that we suspect that the forest has already caught fire.
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About Me

Ruminations
I'm an investment professional and have spent the bulk of my career in the investment management industry. I am a deep value investor, but I also move in and out of asset classes based on my macro outlook (typically 10-20 trades a year). I don't mind holding a big slug of cash even if it earns nothing in hopes of hitting that fat pitch (as I did in 2009). I've been watching our current economic train wreck with a mixture of fascination and dread. The pain is not over and the worst is still to come. Under a reckless Fed that has callously disregarded its duty to supervise the markets, we are slowly but surely heading towards a day of reckoning where we will see the global currency system realign, interest rates in the United States rise sharply, and our standard of living decline measurably.
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