tag:blogger.com,1999:blog-3323125037607548189.post494784377899611116..comments2024-03-15T02:40:09.484-04:00Comments on Wall Street Manna: The Doug Kass "top" and bottom callPalmonihttp://www.blogger.com/profile/17670456087642069778noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3323125037607548189.post-26713518866925439642009-08-26T21:17:14.080-04:002009-08-26T21:17:14.080-04:00That's a great post. Extreme prices aren'...That's a great post. Extreme prices aren't supposed to be used as a reference point, because those prices weren't "real"Palmonihttps://www.blogger.com/profile/17670456087642069778noreply@blogger.comtag:blogger.com,1999:blog-3323125037607548189.post-41535446798847784332009-08-26T21:04:36.035-04:002009-08-26T21:04:36.035-04:00I think "persistence bias" every time i ...I think "persistence bias" every time i read these guys that have enjoyed the spotlight over the last 12 months. <br /><br />They keep referring to the return since the market low, but was March 9 the most real and valid price? Was Jan 1 the most valid price for reference, or maybe Sept 1 2008 was the most valid price. Then we would be down in our analysis period. <br /><br />Price is a function of liquidity and now the liquidity coming back to the equity market is huge. <br /><br />I went back and read Denninger's March 9th entry, and that had to be the point of maximum panic and tight liquidity. <br /><br /> http://www.321gold.com/editorials/denninger/denninger030909.html<br /><br />20% of the S&P will default over the next 12 months...ripe!!CKnoreply@blogger.comtag:blogger.com,1999:blog-3323125037607548189.post-54947094285550812342009-08-26T19:39:35.840-04:002009-08-26T19:39:35.840-04:00completely!completely!Palmonihttps://www.blogger.com/profile/17670456087642069778noreply@blogger.comtag:blogger.com,1999:blog-3323125037607548189.post-48928617359994536182009-08-26T19:33:45.960-04:002009-08-26T19:33:45.960-04:00I think people are underestimating the power of lo...I think people are underestimating the power of loose monetary policy.Anonymousnoreply@blogger.com