Richard Koss
Richard Koss
cheap close fair given gone past relative valued
Given where spreads are relative to past history, they've gone from screamingly cheap to something close to fair value, Being appropriately valued isn't the same as without risk.
buyer cause hearing twenty
I'm not a big buyer of the idea that these imbalances need to cause a crash. I've been hearing that for twenty years.
bubble capacity japan says
There's a thought that says Japan had a capacity bubble in the 1980s, we had one in the 1990s and now it's China's turn.
chance economy exchange fast government grows guys monopoly pact political power remember
The thing to really remember with these guys is that there's a pact between the government and the people. We keep a monopoly on political power and in exchange the economy grows fast and you have the chance of getting rich.
again allowed concern consistent develop drop huge inflation perception
The perception was allowed to develop that a drop in inflation was not just a huge concern. Was that intentional or not? Is it a concern again now? And will this be a consistent story?