http://www.businessinsider.com/richard-russell-on-the-1-reason-to-not-own-stocks-right-now-2011-7#ixzz1REZaBhyc
Richard Russell On The #1 Reason To Not Own Stocks Right Now
Cullen Roche, Pragmatic Capitalism | Jul. 5, 2011,
Richard Russell’s latest letter is something that most investors can probably sympathize with to some degree. While it’s clear that the equity markets are in the midst of a bull market, it’s less clear whether now is still a good time to be buying. Russell, while acknowledging that this is certainly a bull market, prefers not to be overweight equities for one single reason – the values just aren’t that good:
“So is it really a bull market? I think it is. Then shouldn’t we be up to our necks in stocks? I choose not to be, mainly because I don’t like the values. Dividend yields are low in my estimate, and I’m in no hurry to rush into the arms of an anxious and waiting Wall Street.
(continued)
I have come to realize that men are not born to be free. Liberty is a need felt by a small class of people whom nature has endowed with nobler minds than the mass of men. -Napoleon
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