Fleckenstein: it's the housing bubble, stupid

Last month, I pointed to conflicting columns: Ken Fisher's Housing Boom! and Doug Kass's Subprime Fungus Will Spread.

This week, Kass ally Bill Fleckenstein weighs in with a victory dance.

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CalPERS Fail

Despite the awesome bull market this year, CalPERS again missed its return target, earning only 5.8% vs. its required 6.8%. CalPERS has mi...