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Monthly Archives: March 2013
Not a Bubble; Earnings Are Rising Nicely
Stocks are behaving as I expected. On Jan 18 I highlighted “valuation levitation,” writing “the market senses that, with rates so low and dividends set to keep growing, investors could decide that stocks deserve a materially higher valuation despite slow … Continue reading
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Tagged jobless recovery, profits, stock market, stock market bubbles
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Letter from London
It’s a little weird. Central London is booming. Fancy restaurants are packed on Tuesday night. Puny Chelsea townhouses sell for $8 million. Tourists throng Picadilly and Regent Streets. Chippendale mahogany and Tudor oak sell briskly at the BADA antiques fair. … Continue reading
Valuation Levitation Continues
As we expected, stocks are rising. Here are key themes to remember, which we have discussed before: Stocks are rising because they are attractively valued versus bonds and cash, and investors are more confident we won’t have a financial disaster. … Continue reading
Uh Oh — Another Citi Crony Capitalist at Treasury
Last December we wrote that Citigroup is “the defective product of chronic crony capitalism and merger mania. I agree with Sandy Weill, who recommended splitting commercial and investment banking. The next Republican presidential candidate should propose breaking up this too-big-to-fail … Continue reading