This is terrible, absolutely terrible!!! Compensation limitations may put Citigroup and Bank of America at a recruiting disadvantage. Oh my! I am not sure I will be able to sleep tonight!! Oh what will they do, what will they do?!
http://www.bloomberg.com/apps/news?pid=20601087&sid=av0Tkl_Q_pro
This Bodes Well!
Stocks are at their highest valuation in five years. Think about that a moment. Between two and five years ago we were in a roaring economy, or at least we thought. Things looked fantastic. Housing was booming, consumers were spending, businesses were opening left and right, yet the valuations on the stock market were less than they are today. Today we have housing continuing to struggle, consumers ramping up their savings rate, unemployment on the rise, commercial real estate beginning a long fall, foreclosures on the verge of an Alt-A explosion, and debt, on a government and individual level, still in record ranges. Yet we have the highest stock valuations in five years. Yep, that bodes well for the market.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ae0oGD7XmN9U
Disclosures: I have a number of put options.
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