tag:blogger.com,1999:blog-6616959642391988608.post6098220214555420273..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: The bond/equity disconnect resolves in favor of equitiesScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-6616959642391988608.post-18491567604291564932012-08-17T06:32:44.740-07:002012-08-17T06:32:44.740-07:00This comment has been removed by the author.Williamhttps://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-37776994249123082552012-08-16T07:45:20.440-07:002012-08-16T07:45:20.440-07:00I think we will know the stock market is in a rall...I think we will know the stock market is in a rally-mode when we start to see management LBOs and the like. <br /><br />As Vigilante and Redleaf in their book "Panic" pointed out, being a shareholder is a type of weak ownership. Management is strong, not ownership. Management will seize control of companies, through LBOs, if companies are undervalued. That will mean rallies on Wall Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-21077678066409653842012-08-16T03:06:11.929-07:002012-08-16T03:06:11.929-07:00How about this JPM issues 5 year paper with a 2% y...How about this JPM issues 5 year paper with a 2% yield...it pays a dividend of 3.4% on its common stock...stockbuybacks???broderohttps://www.blogger.com/profile/17510948491117506660noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-65562575089540931762012-08-15T20:18:28.446-07:002012-08-15T20:18:28.446-07:00This is something where people with exact opposing...This is something where people with exact opposing views on politics can come to the same conclusion on market expectations. I think Scott and I could not be farther away from each other politically than possible within the US framework, but I wholeheartedly agree with his views on the stock and treasury markets. For the next 6-12 months it will be the triumph of the optimists.<br />JoeJoehttps://www.blogger.com/profile/17141887720434208291noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-18568424506884279602012-08-15T19:35:07.127-07:002012-08-15T19:35:07.127-07:00Marcusbalbus: you come to a very wrong conclusion ...Marcusbalbus: you come to a very wrong conclusion based on very limited facts, such as the composition of my portfolio. That I have been wrong on the direction of interest rates is one thing, but I have also been very right on a number of other things, such as equities, apple, REITs, corporate bonds, junk bonds, and emerging market debt. Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-65063382544182135562012-08-15T18:15:06.541-07:002012-08-15T18:15:06.541-07:00Guys like Scott have been rewarded in a big way ov...Guys like Scott have been rewarded in a big way over the past 3 years. Having done very well for themselves, they don't have to manage anyone's money. <br /><br />Equities are underpriced and government debt is overpriced so the disconnect ought to be resolved in favor of equities. <br /><br />The big unknown is how soon. mmanagedaccountshttps://www.blogger.com/profile/08188469703346980431noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-34566258162081429192012-08-15T17:00:06.985-07:002012-08-15T17:00:06.985-07:00guys like you have been carried out on gurneys for...guys like you have been carried out on gurneys for the last 5 years. thank god you don't manage anyone's money. marcusbalbushttps://www.blogger.com/profile/13596266889368486043noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-18643381247929775552012-08-15T15:58:08.909-07:002012-08-15T15:58:08.909-07:00Buy!Buy!McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.com