From CNBC: The Hamptons
might be more than a summer playground for the rich and famous. It might also
be your best clue about what the stock market will do over the next few months.
According to Nicholas Colas, ConvergEx's chief market
strategist, a "white-hot" market for Hamptons summer rentals tells us
that New York hedge fund managers are feeling confident about the market, and
don't expect to see much happen this summer.
"There are some 70 listings in the [$500,000] to
$900,000 range for the traditional Memorial Day to Labor Day period in the
better parts of the East End ," Colas
wrote in a Wednesday morning note. "Think a lot of hedgies are
anticipating a volatile summer while paying those prices to 'Chill Out East'?
Probably not...."
Wait...wait...there's more at http://www.cnbc.com/id/100758925
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