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It's great if you're invested. The 'retail' investors are still absent as reflected in the volumes. And alas and alack, I fear most of these gains are due to due to the massive amounts of liquidity pumped in by the Fed coupled with the only game in town in the search for yield.
The nut will be what happens to the market when they stop the money presses. They've gotten themselves on a ride and I'm not sure they know how to get off without becoming copy for Ridiculousness.
I'd caution folks to rebalance their holdings [read: take some money off the table] but continue to enjoy the ride. Cripes, just by simply rebalancing one can avoid the worst of any downswing. That's one thing that was so apparent in the aftermath of the dot.com meltdown.
And whatever you do, don't fight the Fed unless you really know WTF you're doing (e.g. general shorting now or going long once they start tightening). You can take a lot of money off the table without betting the NoPass line.
and while the punch bowl is being kept so generously filled, Party On!
I still like a number of long-term stories - mobile payments (and the likely eventual transition to EMV chip credit cards in the US), mobile services, a little healthcare, consumer staples, hard assets (pipelines/rail/infrastructure) and EM.
Hey Scott- was just looking things over and I'd like to say thanks for your finds on MFLDX and GASFX. Send me your address and I'll send you your 10% finders fee.
Reply to @Old_Joe: Thanks! Can't take credit for GASFX though - although I do have a good deal in Kinder Morgan and Enbridge, which are among the top holdings and things that are - I think - very long-term holdings, especially Kinder.
Comments
It's great if you're invested. The 'retail' investors are still absent as reflected in the volumes.
And alas and alack, I fear most of these gains are due to due to the massive amounts of liquidity pumped in by the Fed coupled with the only game in town in the search for yield.
The nut will be what happens to the market when they stop the money presses. They've gotten themselves on a ride and I'm not sure they know how to get off without becoming copy for Ridiculousness.
I'd caution folks to rebalance their holdings [read: take some money off the table] but continue to enjoy the ride. Cripes, just by simply rebalancing one can avoid the worst of any downswing. That's one thing that was so apparent in the aftermath of the dot.com meltdown.
And whatever you do, don't fight the Fed unless you really know WTF you're doing (e.g. general shorting now or going long once they start tightening). You can take a lot of money off the table without betting the NoPass line.
and while the punch bowl is being kept so generously filled, Party On!
peace,
rono
For me it is immaterial as any other number. I work from percentages.
Kinder Morgan asset map (75,000 miles of pipeline, 180 terminals in US/Canada):
http://www.kindermorgan.com/asset_map/default.cfm
MFLDX continues to perform as hoped - nice, consistent, low-key gains, without a heavy correlation to daily market movements.