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Bouroudjian said it best..."Watching Barney Frank with Maria on CNBC reminds me why he's a charter member of the 'I Don't Have a Clue' Club!"
A good contrarian look at the markets. I think you might be on to something here. It seems to me that if the market is trading at the same levels but making double on an earnings basis, then valuation is cheap. I also agree about China and your analysis of liquidity and the Fed...but Europe is a different story. I'm still not convinced the worst is over,I hope you're right.
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