Donald Coxe: Cautious About Equities, Believes Interventions are Inflationary

Legendary investor Donald Coxe is one I follow closely. I would highly recommend his latest conference call where he discusses the global economic environment, and comments on potential ramifications of the government's Freddie/Fannie interventions.

He also has a fantastic Canadian accent that really adds to the fun.

My notes from the call:

• Financial system is still under stress and undercapitalized
• Remains cautious about overall equity exposure
• Believes the gov't interventions are highly inflationary
• Cautions against confusing deflation with falling asset prices (believes Japan's deflationary recession was an exception to the norm)
  
• Bullish on commodities...provided we do not have a deep global recession

Also check out this summary of Donald Coxe's thoughts.