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Warning: Stench of Banks’ Rotting Toxic Garbage Still Strong
Contrarian Profits (April 14th, 2009) Writes:
Notes from the Investment Underground
April 14, 2009
Palermo Viejo, Buenos Aires, Argentina
Richard Russell: Why this is a bear market correction… That latest outbreak of investor credulity… 25 biggest earnings-per-share movers and shakers heading into earnings season… Banks to be allowed to screw up indefinitely… The great “too big to fail” fraud… Bailouts costing $42,105 for each U.S. citizen… Bush-Obama tag team piles on debt at the rate of $60,000 a second… Bob Higgs on C-SPAN… China wises up… And more!
*** This Richard Russell quote is a must-read for investors thinking about buying back into stocks. Russell, now in his 50th year of publishing the excellent Dow Theory Letter, believes we are now witnessing a bear market correction.
The essence of Dow Theory has to do with VALUES. At the March low the price/earnings ratio for the Dow was 25.79 and the dividend ...Tags for this Post:
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Addison Wiggin, America, Argentina, bank takeovers, Bank, bank executives, bank fail;, Barack Obama, Bear Stearns, Beijing, Bespoke Investment Group, Bill Bonner, Bloomberg Radio;, Bob Higgs;, Buenos Aires, cent;, Centex Corp.;, Charlie Rose, Congress, contrarian profits, Dave Gonigam, Depression, Dow 30, Europe, Fda, Federal Reserve System, Frederick, free online resource;, George W Bush, Goldman Sachs, Harold Hill;, Ian Mathias, Jack McHugh;, James Dale Davidson;, JP-Morgan, Larry Summers;, Lehman, Lew Rockwell;, Market Commentary, martin weiss, Maryland, Mdc Holdings, Meredith Whitney, mgm mirage, Mike Mayo;, nouriel roubini, NYU, on-line publication, Paul Volcker, quarter bank earnings;, relaxed mark-to-market accounting rules;, richard russell, S&P, S&P 1500, Sp 500, Taipan Daily, Texas, The Daily, Tim Geithner;, United States, USD, wall street, Washington, wells fargo, youtube
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