Prudent Man CFA

Predictions for the Coming 'Flation'

One important realization of the current financial situation is the realization is that the stock market is not a leading indicator or has the "discounting" ability that the pundits like to sell. Those of us who have been around during the sixties and seventies already know that. Another realization is that the NYSE has been rigged to get nothing more than fees and commissions and that underwriting is, basically, unimportant. Face it, an good company can get financing almost anywhere. It is the large bureaucratic corporations that have the trouble they deserve.

The most profitable businesses today are privately owned and their managers are too busy growing then fooling around with dumb security analysts and bureaucrats. What sane manager would want their company to be publicly owned unless he or she is a sociopath and there are many of those running listed companies.