Is it me, or do prolific market pundits Jeffrey Saut and John Mauldin spend their days writing and giving interviews for marketing purposes?
I suppose someone’s got to do it, but with the public so angered by bankers shamelessly giving themselves enormous bonuses, I was especially struck by the tone deafness of Saut’s February 22 “investment strategy” piece (which included a plug for fellow members of the market guru brotherhood Dennis Gartman and David Kotok):
The call for this week: John Mauldin and I discussed the “state of the state” as we cruised around the Gulf of Mexico in my boat yesterday while wearing our Minyanville hats. John is more worried about deflation, while I remain worried about inflation. This morning, however, the equity markets don’t seem to be worried about either as gold, and crude oil, are relatively flat and the pre-opening S&P 500 futures are better by some 4 points. We think the trading lows are “in” and have tilted accounts accordingly.
Saut and Mauldin are filing stories as they cruise around the Gulf of Mexico. Good on them, but it probably leaves the readers — and presumably their clients — wondering just Where Are the Customers’ Yachts?