Is the drop in the dollar worth watching? Just like the sun will eventually shine its last ray of light, the mighty dollar will someday buy its last barrel of oil or its final container of Chinese imports.

We all know it is going to happen, so why bother discussing it. Right?

Wall Street has gone nuts. It has lost track of how stock markets are supposed to work. I say we put an end to it and take advantage of the market’s apparent short-sightedness.

The bear market has taken its toll on hedge funds so far this year. In the first half of ‘08 average hedge fund performance was a negative .75%. This from Bloomberg:

On July 16, 2007, we sounded the alarm on commercial real estate stocks… aka REITs. We cited record low yields and high valuations as reasons for avoiding – or even shorting – the sector. It didn’t take long for the market to prove us right.