It's time to take those gains

I’ve seen this movie before …

How the Twinkie Made the Superrich Even Richer

… The Teacher Retirement System of Texas has invested in the fund that bought Hostess. And that fund has reaped 27 percent net during the three years it owned Hostess, significantly more than the stock market returned in that period.

“You need to get people in whom you trust and who will keep up our fund,” said Fran Plemmons, a former president of the Texas Retired Teachers Association who was a teacher and principal for 25 years. “If they do that, you need to get out of the way.”…

Extreme financial engineering. Nonsensical corporate valuations. Money from nothing. Investors pleased with “people in whom you trust”. Huge S&P gains over 10 years without matching productivity gains. P/E at about 26. Dr Evil assumes the presidency.

It’s time James.