Tuesday, March 01, 2005


Contrary Investor.com

In a follow up to The Truth, Lawrence Kudlow. The Truth!, Contrary Investor.com at SafeHaven has a supporting article to my thesis that the CPI is understated.

NEVER before have we seen this type of rate of change differential between the rate of change in the OFHEO home price data and the rate of change seen in the housing costs implicit in the CPI-Shelter data. NEVER. Is it fair to say that NEVER has the headline CPI been less reflective of real US residential housing price inflation? Or alternatively, is it fair to say that NEVER has the CPI been so understated relative to the actual accelerating cost of US residential real estate? In all sincerity, we believe the answer to both questions is a resounding yes.
BTW Larry Kudlow,
Contrary Investor is written, edited and published by a very small group of "real world" institutional buy-side portfolio managers and analysts with, at minimum, 20 years of individual Street experience. Our credentials include CFA, CPA and CFP, as well as the obligatory MBA's in Finance. We are all either partners or employees of institutions with at least $1 billion under management.

Mover Mike

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