Nouriel Roubini may eventually be right about bank nationalizations and further deterioration in housing prices (see article below).
However, we are finally seeing “technical” indicators showing positive divergences in the equity markets. We are also encouraged that the NYSE Composite Index (chart below) has held a 40-year uptrend that coincided with roughly 6500 on the [...]
As for the current case with equities, we are amidst a very similarly structured market to that of the 1930 to 1932 period just as I first warned about in October 2007 at the New Orleans Investor Conference. That being said, there will be bounces along the way and some of these bounces will be [...]
Continue reading about Market Analysis – ‘experts’ are wrong.
Earlier this year – at the peak of the latest bear market rally – I met Abby Cohen – the ever bullish equity markets expert at Goldman Sachs who predicted a 25% equity rally for 2008 and is making again a similarly bullish call for 2009. I asked her if we disagreed on earnings or [...]