How much is that company worth? You can look
at its PE, debt, market spread, sovereign risk, and discounted cash flow, but
in the end, it’s the Ben Factor (BF) which dominates all companies, metal
prices, and sovereign currencies in the West.
The Ben hath spoken, and said that in future, if
the economy is looking better, he might slow the printing of $85 billion
US dollars a month, some indefinite non-specified day. All that was … obvious.
But, world-wide investors and traders hang off the words, trying to second-guess
what the BF banality implies. No one will say it, but everyone knows that it
the rate of the flow of easy cash so much as slows, all hell will break
loose. Balanced on this thin veneer of pretense, stocks, metals and whole
national currencies change direction within minutes.……To Read More…
No comments:
Post a Comment