Wednesday, February 1, 2012

FPA Crescent Quarterly Commentary 12/11

Books mentioned: Good Jobs America: Making Work Better for Everyone and Physics of the Future.

After all the back and forth, we still fall into the camp that believes there will eventually be inflation, largely because of the unprecedented liquidity creation noted in our arguments for inflation. However, that doesn’t mean that deflationary pressure won’t rule the roost for the foreseeable future.

(full letter below)

FPA Crescent Qtrly Commentary 1211