8/15 newsletter
The market is undergoing a small correction at 52-week high level. Oil price made a push to $65, another record high. Greenspan raised interest rate to 3.5% and hinted the raise will not stop until year-end, at which time rate will be more than 4%.
It is a very strange economic cycle that stock, oil, real estate, bond price, short term rate are all at historical high. I don't believe anybody can decipher the meaning and implication of this combination until years later...
Suggested reading:
http://www.iinews.com/site/pdfs/IIMag_SAM_July_2005.pdf
I told Danzhi I have very high suspecion on mutual fund industry. You will understand why I take that stand after you read this article. It will also help you think straight toward Wall Street.
--Steve
It is a very strange economic cycle that stock, oil, real estate, bond price, short term rate are all at historical high. I don't believe anybody can decipher the meaning and implication of this combination until years later...
Suggested reading:
http://www.iinews.com/site/pdfs/IIMag_SAM_July_2005.pdf
I told Danzhi I have very high suspecion on mutual fund industry. You will understand why I take that stand after you read this article. It will also help you think straight toward Wall Street.
--Steve
posted by Steve at 2:11 PM
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