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Noted short seller and hedge fund manager Bill Fleckenstein was interviewed on Bloomberg TV a couple of days ago. He touched on the topics of JP Morgan and financials in general, along with his view of the European dilemma.
Fleckenstein had been quoted as saying he wouldn’t buy JP Morgan if a gun was put to his head before the recent trading losses were exposed.
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In the latest issue of Forbes Magazine, Ken Fisher, money manager and author of several books including Markets Never Forget (But People Do): How Your Memory Is Costing You Money-and Why This Time Isn’t Different
Fisher touts four other books including Lefèvre’s Reminiscences of a Stock Operator, Benjamin Graham and David Dodd’s Security Analysis, Roger Babson’s pre-1929 Business Barometers for Anticipating Conditions and, Modern Book Collecting by Robert Wilson.
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Energy stocks (oil, coal, natural gas) have been remarkably weak lately. Chesapeake Energy (CHK), the large natural gas producer, recently hit its lowest price in over 3 years.
Wilbur Ross, “private equity legend and master of the turnaround,” was on CNBC’s Fast Money yesterday. Ross commented on the turnaround potential of natural gas.
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Long-time newsletter (Forecasts and Strategies) writer Mark Skousen was interviewed on the Nightly Business Report last Friday. Skousen was optimistic on the stock market, while downplaying the prospects for gold.
Skousen said the gold market looks tired with technical indiators showing a topping out pattern. He sees the era of excessive government spending and borrowing gradually coming to an end, with politicians moving towards austerity, which is bad for gold.
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Pat Dorsey, Vice Chairman, Director of Research & Strategy, The Sanibel Captiva Trust Company, was on CNBC stating the bullish case for stocks which he claimed have been propelled by their own earnings power. Dorsey was formerly the director of equity research at Morningstar.
Dorsey reminded us that the Fed’s bond buying episodes have been started and stopped in fits and starts and stocks haven’t been “smoked” during any of those times.
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The indomitable Gary Kaltbaum, owner of Kaltbaum Capital Management and host of a national radio show, was on Fox Business News on April 20th predicting a pullback in the stock market.
Kaltbaum said a 10% correction would be a good thing. He feels bullishness has picked up too much and doesn’t like all the IPOs doubling. If we get that kind of stiff correction, Kaltbaum would buy the market.
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