Posted by Leonard Steinberg on April 24th, 2012 The press is reporting that the U.S. homeownership rate may fall two percentage points to 64 percent, below historic norms, amid about six million additional foreclosures and tight lending standards, according to Pacific Investment Management Co.’s Scott Simon. This translates to about 4 million homeowners turning into renters…. [Read More]
"WE ARE CHIMPANZEES WITH NO MEMORY"- QUOTE OF THE DAY
Ken Fisher, head of Fisher investments, made what we think to be the most defining comment of our time to-day: “WE ARE CHIMPANZEE’S WITH NO MEMORY” How apt. While power-hungry, self-serving politicians, panicked individuals, self-serving commentators, ratings starved media, and generally paranoid humans exploit this moment in the current cycle, constantly over-analyzing the current conditions,… [Read More]