6/13/2023 0 Comments Money manager ex sync bull![]() An unidentified receptionist said: "We are referring calls like that to our communications office." Not willing to give up, Louis called a Ryder rental office in San Francisco. The reply: "Anything regarding Oklahoma City, we're just not giving out information, because of our normal policy about ongoing investigations." So he called the FBI, and asked the same question. We're honoring that, no matter how far afield the questions may be." ![]() The FBI told us we have to refer any questions to them. A rented Ryder truck had carried the bomb.Ī Ryder spokesman told him: "We are not prepared to talk about that at this point. And you think you had a tough day: Yesterday, on the request of an editor, my colleague Arthur Louis set out to see if business at Ryder System had been affected by the Oklahoma City blast. Pillette doesn't expect that to happen any time soon. "That would require something Draconian, like a policy change by the Fed." Meanwhile, Oakland money manager Stew Pillette of Pillette Investment Management says that for the first time in five months his indicators suggest it's time for a correction of about 7 percent.īut he says it's premature to expect a crash. ![]() ![]() The second was in August of 1987, and it was followed by the October 1987 crash, when the S&P plunged 34 percent.Īt the moment, the yield on the S&P 500 is just below 2.7 percent and the 3- month T-bill is yielding 5.8 percent.īerg concedes that it's dangerous to rely on any single indicator, but he adds, "I've run out of reasons for not being concerned." The first was at the end of 1972, and it was followed by a prolonged bear market in which the S&P lost 48 percent. That deadly combination came into sync in April, and has only occurred on two other occasions. When this happens - in theory, at least - investors find Treasuries and money market funds more attractive (and less risky) than stocks. He says it's been a foolproof indicator since 1968, and only works when the S&P's yield falls below 2.7 percent and the yield on Treasuries is at least double the S&P's yield. According to his research, an ultra- low dividend yield on the Standard & Poor's 500, combined with the high yield on 3-month Treasury bills, suggests something more ominous than an ordinary correction.
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