Friday, July 1, 2011

Crowd Behavior

Mark Twain was right. Always copper a consensus.

Consensus view the past few weeks was for a major slowing ahead, into year end. We noted earlier that such a view was wrong, and why.

This week’s numbers support us, as will those just ahead

Our date of June/9 as the cyclical low on interest rates (aside from a brief period of distortion provided from ql flt) is close enough.


Robert Craven

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