One thing that caught my eye before I headed out the door. Marc Faber did an interview on Bloomberg. Basically long the dollar and on a relative basis long U.S. stocks compared to European stocks. Also he said the global economy is now in a recession. I agree with everything he said. I do believe the dollar has bottomed and do think Europe is in worse shape than the U.S. I would love to hear Soros thoughts.
http://www.bloomberg.com/avp/avp.htm?N=av&T=Faber%20Says%20Global%20Economy%20in%20Recession%3B%20%60Long'%20on%20Dollar&clipSRC=mms://media2.bloomberg.com/cache/vuf.8Ud9HSYA.asf
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- Market Seer
- I recently just completed 1 year as a hedge fund manager (and I survived). Live near Austin Texas looking for investments that are undervalued and overvalued with an occassional trade thrown in. Graduated from Texas A&M University and worked in New York and Dallas for a couple of money management firms. I love the challange and the excitement you receive working for yourself.
1 comment:
Faber said the same at the begining of the year. USA in much better shape than Europe? fiscal deficit 09 projected 590 billions or a new record, current account deficit will still be higher reaching 5-6% , imbalances are still there , nothing has changed substantially despite the dollar fall. by the way, the us banking system is bankrupt(almost 1,5 trillion losses to arise sooner or later), thats the reason the fed will no increase rates to help capitalize banks. This rally has no solid basis, this is a bearish market started in 2000.
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