Market ObservationMany years of real-time market experience does not make one clairvoyant, sadly. It can however lend some valuable perspective. Call it realism, call it wisdom; some have it sooner, some come to it later, some just never will. There is so much excitement today about the momentum in stock prices. Those looking to think clearly must take care. Six months ago our firm was one of few optimists. As markets hit 12 year lows over a 17 month decline, in February-March we were seeing some of the best valuations that we had seen in several years. Not that stocks were "cheap" or high yielding, but relative to several years of uber-expensive, stocks were starting to look relatively attractive. Full article Financial Sense NewshourPosted on Saturday, but available all week long.  |