I was the lone voice of caution today on the desk, if you can imagine that. We did a before and after Fed meeting thing. I don’t think the crew understood what I was trying to say, but here it is:
Absent QE 3 we would’ve sold off hard.
Even now with QE I still want large caps, US-based and companies with big cash flow that can return it to shareholders. I’m not biting on the junk trade. Anyway, enjoy.
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