Discussion in 'Wall St. News' started by Mvic, Aug 7, 2008.
on the other hand steinhardt is saying contrarians will get killed because this time is different. I think the avg correction n recession of the stock market during secular bear markets is something like 40%, more than the avg correction in recessions overall
He tends to be early, but that's good information.
Thanks for the "heads up".
"..........Money could be yours in abundance. "
The Market Gods do not like such arrogance.
The problem with his forecast is it's devoid of any mention of the trending downward job numbers.
I find that pretty egregious.
The fed is powerful, but they can't compensate for rapidly rising unemployment, especially against a backdrop of massive financial write downs and tight consumer credit and high household debt ratios.
And he doesn't even mention housing, nor the the need for it to stabilize.
What an inadequate and incomplete analysis...IMO.
The trade is over. He likely played it with an options position and made a fortune on that move.
None of those things you bring up mattered. It's called trading, not investing.
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