We are in a Cowardly Lion market, whose occasional bursts of bravery are ultimately overrun by fear that leads to a subsequent decline. For the US stock market, the past ten years have earned the title “the lost decade.”
December 20th, 2010 | Vitaliy N. Katsenelson | 0 comments | ContinuedArchive for Vitaliy N. Katsenelson
Vitaliy N. Katsenelson, CFA, is a portfolio manager/director of research at Investment Management Associates in Denver, Colo. He is the author of Active Value Investing: Making Money in Range-Bound Markets (Wiley 2007).
QE2: Bad in Theory…And in Practice
Over the next eight months the Federal Reserve will conduct QE2 – quantitative easing, the sequel. It will buy $600 billion worth of US long-term bonds in the open market, close to 7% of all Treasuries in public hands. $600 billion is also roughly equivalent to the total amount of net debt the federal government will issue during the Fed’s QE2 campaign.
December 2nd, 2010 | Vitaliy N. Katsenelson | 0 comments | Continued
China Defiance of Global Recession is a Super Bubble
About a decade ago, the Chinese government chose a policy of growth at any cost. China’s leaders considered strong GDP growth essential for political survival and national stability.
April 1st, 2010 | Vitaliy N. Katsenelson | 4 comments | Continued
Chinese Government Trying to Put Brakes on Economy
To understand what’s taking place in China today, we need to rewind the clock about a decade. At that time the Chinese government chose a policy of growth at any cost.
March 2nd, 2010 | Vitaliy N. Katsenelson | 10 comments | Continued
