Andrew Redleaf of Whitebox Advisors penned an interesting letter a few months ago entitled, "The Arithmetic of Equities." In it, he points to the folly of Bill Gross' "death of equities" commentary and makes the case for stocks.
Redleaf asks a simple question: "Why do U.S. institutions hold less of their money in equities than they have for decades?" Instead of summarizing, we'll leave you with the entire letter embedded below:
You can download a .pdf copy here.
Tuesday, December 4, 2012
The Arithmetic of Equities By Whitebox Advisors
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