Tuesday, November 25, 2008
montier a bull
“With all of these opportunities available I have never been more bullish!” he wrote. “Will I be early? Almost certainly yes, but if I can find assets with attractive returns and I have a long time horizon I would be mad to turn them down.”
this is not a terrible shock as his teammate at socgen, albert edwards, was seeing better days in late october. and they can side with jeremy grantham.
these are some rational big-picture pessimists of the last several years getting constructive, and it would be silly to ignore them. they've all expressed the conviction that they are likely early, and that markets can and probably will trade lower going forward (as is the probability assessed by the lowry report). but i am getting long today on the heels of quantitative easing and the achievement of s&p 750. keeping stops tight, however.