Sometimes investing is just a matter of common sense, which some days seems rare. A CS guru on CNBC talking about hedge funds up 3.5% this year and you're paying 2% and 20% for that, some take 50%. But most of these deals are with institutions, people investing other people's money in pension, endowments... No wonder apartments for selling for a $100 million in NYC, it's not the pensioners that are buying them. And the CFO of United/Continental boasting that the airlines are now earning their cost of capital, can't wait to invest there. What did Buffet say, the easiest way to end up with a million dollars investing, start with a $10 million investment in airlines. And the global investing pitch is not such a great one right now, the rest of the world has done worse, and it's much more corrupt than the US. As for Obama's budget, who cares. He says it's non negotiable, that makes that call easy. Still feels we go higher until we correct and then higher, still feels the US market is undervalued relative to alternatives and the rest of the globe. And we have another collapse in a few years.
Noticed that Mozambique is now passing energy legislation after the big gas discoveries there, calls for sharing of revenue, there is a bunch of oil, gas around the world, but the risks are greater, the return expectations should reflect that risk. I would rather own gas in Western Colorado than gas off the coast of Africa or Israel. Contrary to what we have heard from pols, this country is still the best and should remain so for a long time. The experts are putting every word from the Fed under the microscope, lots of wasted energy, imo. Wonder if this quarter's earnings dampen enthusiasm, I'm guessing they don't. Stocks at a 7% earnings yield and the 10 yr T note at a 1.8% yield, that's still an easy choice.