Rosenberg Daily - Keep your powder dry

John Authers on page 18 of the weekend FT ---

Economic realities will always trump human hope in the end. so long-term investors should position themselves to take advantage of this. For now. that means protecting against further trouble in the eurozone. And when it cornes to buying opportunities. they require you to buy when you are scared witless. The eurozone will probably form just such a moment some time soon. But rather than obsess about timing. most people would be best advised to keep dribbling money into stock markets. and otherwise to stay diversified. To do anything else would be the triumph of hope over experience.

Very well said indeed. Something tells me that the seeds of a great buying opportunity are in the process of being sown. and l am extremely excited over that prospect. Remember at 1.5% on the 10-year note. we will have a signpost that a whole lot of bad economic news is being priced into financial markets - heck, we're only 20 basis points away, Keep that powder dry.