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Ricard is a
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Large Caps Could Lead the Market Much Higher [View article]
"As long as rates remain low, liquidity high and the animal spirits alive, there is a risk that the scenario I described plays out. "
This is the same conclusion I've reached in the past several months. Our economy is centrally planned by the Fed, and as long as 'god' is good, then greed will reign.
I also agree with your assessment that (attractively priced) small caps may have quite a ways to go as well. Along that vein, I've taken a large position in ETFC - I find it to be one of the last opportunities left to profit off the fallacious 'doomsday scenario' from Oct 08. At first I thought it to be highly speculative, but upon finishing my DD, it looks more and more attractive as a solid value play. I'll post something up early next week.