Value Microcaps Motherboard

[stock_peeker]

Excerpts from Donald Coxe letter:

1. Larry Summers summed up equity performance with an even more doleful metric last week, saying that the US stock market, adjusted for inflation, was back to where it was during Lyndon Johnson’s Administration. That’s 35 years of zero real return.

Mr. Summers didn’t point out that gold has gone from $35 an ounce to $900 since LBJ introduced The Great Society.

2. Collateralized Debt Swaps proved to be the financial equivalent of what happened when the Sorcerer’s Apprentice got hold of the master’s book of spells...