August 2, 2013

Short Takes; Housing Reality: Best of Kass

Below are some of the reasons why I am getting shorter now: Market looks tired and appears to be rolling over. Arguably better economic news (which I view, by contrast, as mixed) has been discounted and so has a modest acceleration in third-quarter domestic economic growth. Over there, too much has been made of better eurozone economic data. As discussed yesterday, the data only suggests +0.2% real GDP growth in third quarter 2013.

I am convinced that revenue and profits will be disappointing in the second half of the year.Tapering will likely start in September.Interest rates will continue to climb. The housing recovery will pause. Uncertainty regarding the next Fed chairman.

 

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