Wall Street Embraces 'Safety First' Investment Strategy

The news of a Carnival captain abandoning the ship Costa Concordia and leaving the women and children to fend for themselves left Wall Street real estate titans aghast and appalled. To be clear, they saw no foul in steering a big ship into the rocks. Nor were they vexed by the forsaking of passengers due to an unwise navigation into rocky waters. What the gilded barons of commercial real estate couldn’t fathom was the captain allegedly doing of all this and yet still failing to become bloated with a personal fortune.

What a bracing tonic for me to hear stock market strategist David Rosenberg talking about “SIRP – Safety and Income at Reasonable Prices.” Similarly, the doting mallards at Goldman Sachs are quacking “LOL DG – “Low Operating Leverage and Dividend Growth.”