I don't usually comment on equities here because I am a bond guy and I usually relate my comments to the linkages between bonds and economics and politics.
However, I cannot help but regret that I did not sell something today as the stock market hit all time highs.
I did buy a Chinese company that makes diapers as the Chinese 2 kid policy will increase demand (and I shorted a condom company). Just kidding as we were in the office.
I do think US valuations are getting a bit stretched, and I can only observe that the market likes a functioning government. The stock market has gone up virtually every day single day since the US government did not default and the government shut down ended.
While the Tea Party may be unhappy, is there any wonder the business wing of the GOP does not want a government default.
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