As we all remember norris posted right after the elections
that the stock market would be in decline because Obama won. Well as he was reminded we all knew that the market would pull back. He kept calling for the demise of the market and to change your port because he was in a full blown panic. Well here we are back above 13k again on the dow and closed at a high today. man this guy is such a wack job. That if he is a editor at the WSJ. He needs to write an article on his call of the market crash on the LINE board and then apologise and say to everyone I was wrong again.
I did not call for the implosion of the American economy or stock market. What I said was it was not properly valued to reflect an Obama win due to slower growth or perhaps a recession.
So as you know at the recent pre-election peak I backed all my energy and high beta holdings with puts.
The market is down about 4%. But the rotation was into defensive companies again. So you are attempting to poke fun at one of my most profitable portfolio positions of all time.
Now is the market at about 16 time trailing earnings and 13 times for 2013 pricing in no growth or a recession? Nope. We can already see what dramatic impact higher taxes have on investment.
We want the best retailer in American Costco - to borrow billions to pay a special dividend rather than invest in the business? Employment is getting better with the record divergence between u3 and u6? American electrical consumption is trending down?
Silly Progressive voting on an investment board has now power to make your altered reality work.
Now now Opinions. Real investors do not pretend to know the future with precision. Rather we think and prepare for all possible outcomes. We are not Progressive with delusions of wielding the power to determine the future.