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Profit-taking, selling into the rally. The Bull still hasn't found his footing and equilibrium? This leg upward is something they do not trust. Understandable. We continue to live with the ramifications of the criminally-induced-but-no-one-went-to-jail 2008 Crash. It was a sea-change event. The go-go-1990s are gone.
Hey Mon... I just deed theese theeng too. Took profits since beginning of new year. Will redeploy after you-know-who bombs the bejesus out of you-know-who.
Reply to @Old_Joe: Hopefully it will not escalate much further, as given the dynamics of the situation, it could get much worse.
As I noted in another thread, Blackrock's Larry Fink saying that people should be "100% in equities" makes me want to sell more than anything.
"We continue to live with the ramifications of the criminally-induced-but-no-one-went-to-jail 2008 Crash. It was a sea-change event. The go-go-1990s are gone."
I really should invest in banks - why not? An investment that will never be allowed to fail or really get in any trouble that will not end in some sort of settlement. I'll have to look at that bank preferred CEF or ETF that Kenster was discussing.
Additionally, in terms of rather exotic instruments, the only person I'd want to invest in mortgages with someone whose focus it is, like Jeffrey Gundlach (issues with TCW or not) - this mess leads me to be a little concerned that somehow MBS holders will be eating costs of various bailouts and interventions in the mortgage market.
Reply to @Desota: HI Desota, don't know if fink makes sense or not but I wish if he would bet where his mouth is...probably better to raise cash AND have lots of good rated bonds. It may crash very soon
Fink's story: "Diversification, ha! Fink says go all-in on equities" By Bloomberg Published: February 8, 2012
Daniel Acker/Bloomberg
Laurence D. Fink chairman and CEO of BlackRock
Investors should have 100% of investments in equities because of valuations and higher returns than bonds, said BlackRock Chairman and CEO Laurence D. Fink.
Related Content stories
Money managers see assets bounce back, but investors still leery of risk BlackRock reports AUM gain for quarter, decline for year BlackRock buys Canadian ETF provider Claymore Investments
Investors who seek the safety of Treasury bonds will have minimal returns and will not be able to meet their needs with the Federal Reserve expected to keep interest rates low, said Mr. Fink in an interview Wednesday with Bloomberg Television in Hong Kong. By contrast, equities are trading at the lowest valuations in 20 or 30 years.
“I don't have a view that the world is going to fall apart, so you need to take on more risk,” Mr. Fink said. “You need to overcome all this noise. When you look at dividend returns on equities vs. bond yields, to me it's a pretty easy decision to be heavily in equities.”
BlackRock spokeswoman Bobbie Collins said she views Mr. Fink's recommendation as a counterweight to a continued move by investors to the sidelines.
BlackRock's philosophy – that clients should construct diversified portfolios based on their own objectives and liabilities – remains unchanged, she said.
The Federal Open Market Committee last month pledged it would keep borrowing costs low through at least late 2014, extending a previous end date of mid-2013. Investors pulled money from mutual funds that buy U.S. stocks for a fifth year in 2011, the longest streak in data going back to 1984, according to the Investment Company Institute.
Mr. Fink said the Greek debt crisis will be resolved as it's not in anyone's interest to have a blowup now. Greece is trying to win a €130 billion ($172 billion) second aid package to prevent the country's collapse, strike a deal with private creditors and remain in the eurozone. European leaders in recent days stepped up pressure on Greek politicians to meet the conditions of the rescue.
“I'm very bullish on the market,” Mr. Fink said, citing the increased liquidity from the U.S. and European central banks. “I think the market is focusing too much on noise like Greece. And yet we're going to have a lot of volatility and we're going to have to live with it.”
Asked if he would become the next Treasury secretary should President Barack Obama win re-election this year, Mr. Fink said: “A, it's eight months, nine months away; we have to see if the president will be re-elected. B, we're going to see if the president would want me. And C, I have to ask my wife would she ever let me. Put those all together, I would say it's pretty foggy, uncertain if that would ever happen.”
Treasury Secretary Timothy F. Geithner said in an interview on Jan. 25 he doesn't expect Mr. Obama to ask him to stay in office if the president is re-elected later this year.
Reporter Douglas Appell contributed to this story.
Comments
As I noted in another thread, Blackrock's Larry Fink saying that people should be "100% in equities" makes me want to sell more than anything.
"We continue to live with the ramifications of the criminally-induced-but-no-one-went-to-jail 2008 Crash. It was a sea-change event. The go-go-1990s are gone."
Speaking of that, anyone seen Jon Corzine?
Also:
http://www.zerohedge.com/news/us-settle-fraudclosure-25-billion-even-it-channels-fake-tough-guy-meaningless-lawsuit-against-v
Fraudclosure: You Have Been Sold Out:
http://market-ticker.org/akcs-www?post=201723
http://www.nakedcapitalism.com/2012/02/the-top-twelve-reasons-why-you-should-hate-the-mortgage-settlement.html
I really should invest in banks - why not? An investment that will never be allowed to fail or really get in any trouble that will not end in some sort of settlement. I'll have to look at that bank preferred CEF or ETF that Kenster was discussing.
Additionally, in terms of rather exotic instruments, the only person I'd want to invest in mortgages with someone whose focus it is, like Jeffrey Gundlach (issues with TCW or not) - this mess leads me to be a little concerned that somehow MBS holders will be eating costs of various bailouts and interventions in the mortgage market.
Finally,
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/2/9_John_Gray_-_We_Are_Getting_Very_Close_to_a_Top.html
I don't know if this is near a top, but I definitely agree with overbought.
HI Desota, don't know if fink makes sense or not but I wish if he would bet where his mouth is...probably better to raise cash AND have lots of good rated bonds. It may crash very soon
Fink's story: "Diversification, ha! Fink says go all-in on equities"
By Bloomberg
Published: February 8, 2012
Daniel Acker/Bloomberg
Laurence D. Fink chairman and CEO of BlackRock
Investors should have 100% of investments in equities because of valuations and higher returns than bonds, said BlackRock Chairman and CEO Laurence D. Fink.
Related Content
stories
Money managers see assets bounce back, but investors still leery of risk
BlackRock reports AUM gain for quarter, decline for year
BlackRock buys Canadian ETF provider Claymore Investments
Investors who seek the safety of Treasury bonds will have minimal returns and will not be able to meet their needs with the Federal Reserve expected to keep interest rates low, said Mr. Fink in an interview Wednesday with Bloomberg Television in Hong Kong. By contrast, equities are trading at the lowest valuations in 20 or 30 years.
“I don't have a view that the world is going to fall apart, so you need to take on more risk,” Mr. Fink said. “You need to overcome all this noise. When you look at dividend returns on equities vs. bond yields, to me it's a pretty easy decision to be heavily in equities.”
BlackRock spokeswoman Bobbie Collins said she views Mr. Fink's recommendation as a counterweight to a continued move by investors to the sidelines.
BlackRock's philosophy – that clients should construct diversified portfolios based on their own objectives and liabilities – remains unchanged, she said.
The Federal Open Market Committee last month pledged it would keep borrowing costs low through at least late 2014, extending a previous end date of mid-2013. Investors pulled money from mutual funds that buy U.S. stocks for a fifth year in 2011, the longest streak in data going back to 1984, according to the Investment Company Institute.
Mr. Fink said the Greek debt crisis will be resolved as it's not in anyone's interest to have a blowup now. Greece is trying to win a €130 billion ($172 billion) second aid package to prevent the country's collapse, strike a deal with private creditors and remain in the eurozone. European leaders in recent days stepped up pressure on Greek politicians to meet the conditions of the rescue.
“I'm very bullish on the market,” Mr. Fink said, citing the increased liquidity from the U.S. and European central banks. “I think the market is focusing too much on noise like Greece. And yet we're going to have a lot of volatility and we're going to have to live with it.”
Asked if he would become the next Treasury secretary should President Barack Obama win re-election this year, Mr. Fink said: “A, it's eight months, nine months away; we have to see if the president will be re-elected. B, we're going to see if the president would want me. And C, I have to ask my wife would she ever let me. Put those all together, I would say it's pretty foggy, uncertain if that would ever happen.”
Treasury Secretary Timothy F. Geithner said in an interview on Jan. 25 he doesn't expect Mr. Obama to ask him to stay in office if the president is re-elected later this year.
Reporter Douglas Appell contributed to this story.