I debated whether to post this note or not, but in the end I thought it raised enough interesting questions to be worth your consideration.
I remain mildly bullish on the stock market, mostly because the lack of appeal of any other investing alternatives. Today's CPI number indicated that deflation remains a major threat to our economy, and interest rates continue to move lower (at this writing the 10-year U.S. Treasury note is yielding 3.20%, which is the lowest level since the financial crisis in early 2009).
Still, as this note from the blog Clusterstock
notes, Felix Zulauf is a pretty savvy investor, and so is worth a listen.
Sufficient to say, I hope he's wrong.
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