You know how you always tend to like people who agree with you… Well, I’ve featured Wells’s Jim Paulsen here before, and I know it’s because I really like him—and I’m guessing that’s because he and I have been on the same page for some time.
If you’re reading and listening to my commentaries, Jim's views regarding last year's correction (not hanging around long enough to do any good), the need to re-set valuations (i.e., this correction is ultimately a good thing), the present state of the market and where the opportunities lie going forward should sound very familiar to you:
You're presuming that the last seven years were "normal", despite the Fed's zero interest rate policy and QE. Hardly.
ReplyDeleteNot really Otto... In fact, like Paulsen, I was wishing last year's "correction" was "normal" and did some work to at least begin correcting some of the misallocations/imbalances that you and I agree were no doubt inspired by all of the intervention. No one knows how this all plays out, the best we can do is pay close attention to the data and look for the best global opportunities --- from a long-term asset allocation standpoint...
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