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2024
October 11th, 2014 at 5:50 am
Futures seem to have slipped a little lower into their close – scary stuff….
It's tricky because there's nothing happening now that we didn't see months ago. Here's some of my notes on China this year:
So now the markets are starting to see the problem in China and, of course, we've had similar discussions about how Europe isn't working and about how our own "recovery" has been nothing but a transfer of wealth from the bottom 90% to the top 1% – all obvious to us but, unfortunately, now "shocking" to the rest of the World.
I think, without more stimulus, there isn't going to be a "recovery" back to the market highs. The fact is, we never should have gone that high in the first place. That's why we've stayed stubbornly mostly in cash all year – there haven't been many cheap things to buy so we "settled" and bought things that didn't seem as crazy as the other stuff. It still remains to be seen whether or not that was a good plan.
It's hard to tell how sour investor sentiment can turn, that's what we have to watch out for. That's why (as you can see above), I'm doing a lot of reading this weekend. Let me know what you guys see as well.