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John Riley: If you liked Act 1, just wait until Act 2! (pdf)

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Here's the full text for those who hate pdf (see the pdf or here for numerous excellent charts): "If you liked Act 1, just wait until Act 2!" John Riley Chief Strategist Cornerstone Investment Services We’ve broken down our view of the markets and economy into several acts, like a play. Act 1 is full of surprises and designed to bring the audience into the play quickly. Act 2 is where the meat of the play is. It explains the story and sets up the resolution in Act 3. Act 1 With the passing of the Bailout Bill by Congress and the subsequent global market sell-off, Act 1 appears to be coming to a close. Did it get your attention? Because if you liked Act 1, you are going to love Act 2. Act 1 was characterized by the realization of the excesses of the previous 13 ...

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