Barron's Alan Abelson: Perma-Boor

An Email to Alan Abelson:

I have long read your column and enjoy its irreverence and contrarian nature. When the big bubbles were brewing in 1999 and 2005-06, your "against the grain" columns were refreshing amidst all the gushing of other journalists. I really enjoy your jabs on politicians of all breed. They deserve it (most of the time).

But your latest column, on March 31, has me a little baffled by its raving negativity (but only a little given the source). As a bonafide contrarian, when do you get optimistic, at the end of Armageddon? For you to claim that the investment sentiment indicators, that show a strong, nearly historic bearish bias, are all bogus, is just too much. And for you to throw darts at the Fed for doing its job: being the bank of last resort, is sanctimonius. Who made you such a genius that you know best about central banking?

In my book, the reason for contrarians to get a little more optimistic about the banking crisis is: a) straight shooting analysts like Mr. Tilton do say they see the light, no matter now dim; it was only a couple months ago when no one knew the bottom, which WAS truly frightening; and b) the Fed has finally become engaged in the crisis; regardless of your cynicism, this is exactly why the Fed was created; they are doing their job protecting our economy and the livlihoods of our citizens. Finally we get something back for our tax dollar, even if it is somewhat depreciated.

Try and dial it back a little. I know you like to be contrarian. And it wouldn't hurt for you to try to see up when everyone else sees down.