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  1. Fleet Street Hotline: Dollar Driven; Take Profits on Two Sells • August 27, 2004

    Dear Fleet Street Investors, The price of oil seems to dominate the market news these days. Mostly because it has been rising. But this week we were given a reprieve, and the price of oil is as low as it has been in two weeks. The markets seemed to like that and celebrated a bit, [...]

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  2. Capital & Crisis August 2004 Tangible Assets That Sweat • August 1, 2004

    We live in a precarious time. Despite its “nasty swoon” from 2000-02, a dramatic resurgence in stock prices throughout 2003 has left most investors “true believers” in the market. Price-to-earnings on all the major indexes remain well above historical average… championed by a whopping P/E of 48 on the Nasdaq Composite. These rich valuations are not [...]

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