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that pension fund actuarial models have to be scrapped as they will likely not be able to attain the kinds of returns needed to keep them solvent based on capital appreciation expectations
What the heck is with the "managed timber"? Is that the new tripe he is selling to his clients?
So, growth is out and HFT manipulation of the "US HIgh Quality" names is in?
"managed timber", what nonsense, housing down and people using less and less paper but timber is going to go up? Total speculation.
Shhhhhh! Don't let anyone know the dirty little secret!
If timber will be a top performer, then the other assumptions are out of whack. This makes no sense to me.
What the heck is with the "managed timber"?
What the heck is with the "managed timber"?
I think its a euphemism thing. Something to do with Viagra?
Too bad the pension funds didn 't buy gold and lots of it.
Yeah, people might actually have been able to retire without eating dogfood.
Aren't social secuirty beneficiaries supposed to be getting a 25% COLA?
I think it was 25% more dogfood...iirc
How 'bout including a forecast for real estate, US dollar, precious metals, soft commodities, and oil? Stock and bonds are not the only games in town after all. These forecast are interesting, but rather meaningless in the overall context of general economic upheaval.
Why exclude gold?
I dont know if John Williams will agree with a 2.5% inflation assumption?
Well there is not enough gold for everyone to invest in, period!
Please further explain your comment.
What is there enough of, for EVERYONE to invest in?
And what asset class does EVERYONE invest in?
If everyone tried to exchange their rapidly devaluing paper for gold that would drive the price way too high for paper holders to feel comfortable with. i think there may be some of that discomfort going on in silver right now!
Answer to the first question is "Themselves". It is, unfortunately, not the answer to the second.
CPI came in at one of the lowest readings ever.
And crude oil just cratered $5 in a matter of days, so next month's CPI will probably be even lower.
What is this CPI based on? Clearly not gas, milk, and cereal.
CPlie you mean. More BLS BS. Nothing can be trusted.
A little too late for that report to come out.
Many stocks are already up huge since the 2008 lows.
Once in a lifetime gain in stocks has already happened.
Deep cyclicals like CAT which are already 4-baggers
$20 to $80
Jim Chanos said something interesting earlier this year when he predicted with his best guess that China's real estate bubble would probably start to unwind in late '10. Something to think about:
"A lot of people are going to be rethinking their entire investment approach when China's credit bubble pops."
He also waxed that "The ultimate defination of a bubble is when the cash flows can't service the debt." I wonder what the owner's equivalent rent is in mainland China? I'm guessing it's not good, as we are hearing real anecdotal evidence right here on ZH.
Chanos should be put on that round table, while he agrees with Rosie--his bar bell is short commodities being ramped up in the preposterous China growth story and anything Netflix.
If Chanos is right, I also expect to see Gold temporarily punished, along with silver? Thoughts?
If Jim Chanos is right, the ChiComms won't be letting his investor's money out of the country.
The immenient emerging market implosion will destroy him and his models. Retirement for you Grantham. You've jumped the shark w Maria and your 15 minutes of celebrity have been brittle indeed.
What about the asset class that takes opposite trades against Nic Lenor and David 'Double Chin' Rosenberg that have been dead wrong about the gloom and doom which will not probably come for another 15 years and 9,999,999 points later ?
That indeed has been the best securitized asset YTD.
Exactly. Lots of fools lost money listening to those guys. This isn't rocket science. We had our "great recession" that was the disaster they all were looking for. Great. Move on. Why look silly trying to predict another "disaster"?
Dood, I don't quite know what world you're living in, but it's hard to think in terms of "another" disaster while this one still has S&P levels equal to 1998. That's 12 years of nothing. The real question is, with oil priced 4 or 5 times higher than 1998, why in hell do you imagine that NOW, this point in time, is what turns around 12 years of nothing when the lifeblood of civilization is leaking away.
No doubt. And not only that, many refuse to see how stocks have been literally destroyed against gold. Check out the Dow/Gold ratio. Silver is just now catching up, and leading gold. It has a LONG way to go from here. $50 next year wouldn't surprise me as physical shortages and delivery delays hit hard.
I can't see the forest for the trees.
This is garbage. Look at his plus minus figures at the bottom. How about I throw some shit on the wall see what sticks and put it on a chart?
LOL, even I could pitch a perfect game with those +/- figures. Hell, at this time anyone forecasting past their nose is a fool.
Grantham is a stud. His record speaks for itself.
David Davidowitz is right on...
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