The euro crisis is a tragedy—or a farce? Whatever it is, it’s bit less so today, or one could reason by way of today’s rally in U.S. stocks. But how did we get here? Everyone has an opinion.
Daily Archives: November 28, 2011
Tactical ETF Review: 11.28.2011
The capital markets and the global economy are caught between the rock and the hard place. Misguided policy choices in Europe and deadlocked budget negotiations in Washington are threatening to crush the meager economic growth in the developed world. The toxic environment is starting to infect emerging markets too. For contrarian investors with a long-term view, the possibilities may be looking up. But earning higher risk premiums than the crowd isn’t going to come easily. Turbulence looks like a safe bet for the near term, and perhaps longer. Everything else is open for debate as the world sorts through the mystery of how we get from here to there without (hopefully) shooting ourselves in the head. The thankless job of discounting the unknown unknowns is now job one. The blunt response is now roiling markets, as you’ll see in the following review of the major asset classes via our usual list of ETF proxies…