“There is one peculiarity about mass psychology in that when you are in a bubble, you can't see it. Bubbles are invisible when you are inside the bubble,” said the charming Jim Dines of The Dines Letter.
“I think the market is going to get slammed this summer. The Fed is bad for financials, the dollar is a problem for industrials, and commodities are a problem for everybody,” said Scott Nations, president of NationShares.
Favorite headline of the day: "Greece Offers to Pay Back Debt With Giant Horse."
"If there were no way to short stocks, the probability of stock market bubbles would be much greater," said hedge fund manager, Bill Ackman, of Pershing Square.
There is growing evidence that China is starting to recover. If that happens, it is going to restart the entire global manufacturing cycle. Emerging markets have been the missing link for the entire year,” said Jim Paulsen, formerly the chief investment strategist of Wells Capital Management.
“When you’re running budget deficit of $1.6 trillion and you’re going to cut $38 billion out of it, if you were a bellhop you wouldn’t accept that as a tip,” said my former colleague at Morgan Stanley, Byron Wien of hedge fund giant Black Rock.
“You can become rich by having more than you need, or by needing less than you have,” said a wise friend.
“Nobody knew it was August 1982, the end of a bear market, until it was August 1984,” said Christopher Verrone, head of technical analysis at research boutique Strategas.
“2024 will be the fourth year of living dangerously,” said Ed Yardeni of Yardeni Research.
"The greatest glory in living lies not in never falling, but in rising every time we fall." said the great American novelist, Earnest Hemingway.
