By Hook or Crook

The big debate amongst our colleagues the past several weeks has centered around the importance of the housing market in ensuring a strong recovery. In the face of pundits’ claims such as one proposed by A. Gary Shilling that housing prices could be expected to fall another 20%, we have remained adamant contrarians bearing witness … Continue reading

Capitulation Creates Opportunity

We’ll be among the first to see yesterday’s market action as an outright capitulation and a near term buying opportunity (Lazslo Birinyi, Barton Biggs are included in the bull market camp). Once the dust settles and fears are allayed, the markets will recover much of their losses (S&P is down -5% ytd) and retrace to … Continue reading

The Point of No Return

It has become quite clear to us that the pessimism that pervades the equity markets will soon provide the setting for another round of quantitative easing by the Fed. That’s right, QE3 by our estimation is back on the table and up for serious consideration. We see QE3 as an inevitable result of weak, anemic … Continue reading


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