I remember everyone freaking out about GPS, and all the debt they piled on, but I want you to think about this: interest rates are lower than they've been for 60 years, and we are deep into the longest recession, and the longest bear market, since the 70s. So we have low interest rates, and opportunities galore. I don't agree with anyone that the market is still overvalued; in fact, I am encouraged by their pessimism.Almost every company I follow -- some very conservative firm in there -- have nearly doubled their debt in this environment. I don't think it's stupid at all. Just some thoughts...Still own heaps of GPS.Paco
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