Hey Peter, I like your posts because you are always so rational....

Hey Peter, I like your posts because you are always so rational. I trust the people in this company since I have been following them for many years, but less so recently. It is better just let them execute. We only need to cheer them when they deliver.

There are a few caveats besides the inflows. The real estate woe is IMO a positive for the stock market. Chinese are not coming back any time soon. Money has to go somewhere. Also a lot depends on the monetary policy of the central bank. Historically when facing a difficult situation, quick and easy solutions usually prevail. I expect cheap money to flood the system soon. By looking at the returns in the past year in real estate and stocks, the stock market is a lot hotter than the housing market. I really hope we see a virtuous cycle once people are starting to pile in. A bull market will lift FUMAA at the same time, so this works better than acquisition and natural inflows.

I think with a combination of inflows, acquisitions and integrations, and more importantly, a market that is 10% higher than today's level, it is still possible to see EPS coming at 50c.