Debt & Currency Issues May Re-emerge (T, AUY)

James Dailey, chief investment officer and senior portfolio manager with Team Asset Strategy Fund, has equated the current market scenario with the rally off the “Bear Stearns low” in 2008. He told CNBC, “The earnings are backwards-looking and this rally is broadly hated. People have been climbing a wall of worry since the low in July.” He claimed that the current European crisis is similar in nature to the Bear Stearns crisis and warned about the re-emergence of sovereign debt and currency issues. He stated that precious metal and mining stocks look attractive and recommended AT&T

and Yamana Gold

.