With gold (Peter Brandt) and materials (Chess) in deep trouble, the time to look around has arrived. Stock market leadership has narrowed marketly. I have long considered the consumer dividend plays richly priced. Europe is a mess and the industrials need Chinese growth to accelerate. U.S. small caps? Relative U.S. economic strength is not providing investment opportunites.
So I am going to start by thinking about the very big picture and Bill Gross.
A bit on Uranium for Paul: