onFebruary 9, 2015
February 9, 2015
London, England
London, England
[Editor’s note: Tim Price, London-based manager and editor of Price Value International is filling in for Simon today.]
There are some time-honoured signs of an impending market top.
One of them is that margin debt has peaked.
Another is that interest rates are going through the floor.
Another is that the velocity of money is also going through the floor.
Another is that Goldman Sachs’ Senior US Investment Strategist Abby Joseph Cohen reckons the stock market is relatively cheap, an opinion which she generously gave at a recent Barrons roundtable.
Barrons actually gave us two signs of a market top for the price of one (but then everything’s devalued these days) – their February 6th edition pointed out that the value of fine art sold at auction had quadrupled from $3.9 billion in 2004 to some $16.2 billion in 2014.
No comments:
Post a Comment