market folly

Jeffrey Saut, chief investment strategist for Raymond James is back with his latest missive. This week's market commentary is entitled "I Should Have!?" and prods at the notion of coulda, woulda, shoulda as portfolio managers wished they had bought at Dow 8000. To that extent, we'll interject one of our own favorite quotes on the subject, "The opportunities clear in retrospect are often unclear in prospect."

Saut says that he doesn't believe that America is at the end of an era. He mentions that many commentators out there reference the period of the 1930's and while he does not think things are that bad, he definitely acknowledges we're in a tough spot. Saut notes that in his past weekly notes, they have wrongly been looking for a correction since the start of Q4. He then goes on to note that underinvested portfolio managers have had a hand in the melt up in stocks and they could possibly again as they are still very cash-rich.

Embedded below is Saut's investment strategy for the week of 11/9/09:



You can download the .pdf here.

Don't forget we're covering his investment strategy missives each week and you can check out his thoughts last week on a Dow Theory sell signal as well as his prior commentary.