marketwatch.com —
Uncertain future makes equities look much riskier...
My thinking has changed a lot over the last few months.
I began to get bullish last summer, just before Federal Reserve chairman Ben Bernanke announced the second round of the Fed’s “quantitative easing” program. Stocks and other risky assets took off, driving the Standard & Poor’s 500 index up 30% to its April 29 high.
But since mid-April, I’ve become increasingly nervous and skeptical because of seasonal factors and a lot of fundamental obstacles to the markets’ advance.
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