23 November 2009

Turkey Rally

Perhaps you already noticed that the markets are moving for their own inscrutable reasons. Dollar. Oil. M&A. My favorite is liquidity. There's a lot of it and not too many places to put it. As I've asked before if you had $2T. where would you spend it?

I am increasingly worried that we are in uncharted territory now. The "Buy Junk" rally from March is looking long in the tooth. It appears there may be a bull market but one for....quality stocks! That will be hard to adjust to.

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