Saturday, April 21, 2012

Quote of the Day

April 20, 2012
Earnings, Fed to prove skeptics wrong

Kenneth Fisher, the billionaire investor who oversees $43 billion at Woodside, California-based Fisher Investments Inc, said the current economic environment was "as beautiful as I have ever seen it," and that 2012 would be "a super big year" for equities.

Don't you see what this means? Even with an 8.2% unemployment rate and $100+ oil, the economy is at least as good as it was back in 2007!

February 26, 2007
Housing Boom! - Ken Fisher

Don't buy it. For months now the debate has been over whether America will have a hard landing or soft landing, the answer hinging on how big 2007's housing disaster turns out to be. Well, there won't be any housing disaster. We won't have a landing at all, soft or hard. Right now the U.S. and global economies are both accelerating.

You can see right through the housing crash story by looking at the prices of housing stocks. The market knows what the economic worrywarts do not, which is that the housing sector is already making a comeback. In the last six months housing stocks are up 24%, well ahead of the overall market. If housing were destined to fall apart in 2007 these stocks wouldn't be so strong now.


Troy said...

today's lesson learned: never get into an argument with the blog owner.

(my last comment that he he didn't publish was the discussion of CMDEBT and M3 1996-2006 and why that made his comparison of Japan 1990-2006 to the world rather deceptive).

I'd rather have Japan's problems than ours, like I said.

Stagflationary Mark said...


I'm impressed. It's not often that you see civil people in a debate formally banned. Well done!

You didn't even resort to calling the blog owner "desperate", "besotted", or "senseless". You also did not tell the blog owner to "take of the blinkers and insert the hearing aid".

And even then, I've never resorted to deleting a comment because it disagreed with me.

I have many readers here who have disagreed with me about the value of gold. It takes at least two differing opinions to make a market. I respect that.

It really isn't personal to me unless someone wants to make it personal.

fried said...

Fisher thinks the econ environment is "beautiful"...I do wonder where he is looking. Over the weekend, Sarkozy lost the first round, with the ant-Euro, anti-austerity LePen the kingmaker. The Dutch governing coalition collapsed over austerity cuts, as did the Czech. The IMF's LeGarde suggested on Friday giving the bailout moneys directly to the banks and bypassing governments...which suggests she read the political tea leaves early.
This kind of instability is not usually good for markets...but as I am not a banker, what do I know.

Stagflationary Mark said...


This kind of instability is not usually good for markets...but as I am not a banker, what do I know.

Perhaps he meant that it was a beautiful environment for managing other people's money. If you lose it, no big deal, lol. Sigh.