Wow! the recent writings have been right on the money. Apparently, the economic guru's of the day have abandoned their posts as defenders of capitalist ideaology and rhetoric for socialistic bandaids (presumably taking a page from the former soviet union since spastic intervention has worked so well over there). Perhaps at first site of the next big dow plunge, they will close the markets for a couple of days and hope things are better when they decide to reopen.
I have a couple of questions if you dont mind:
As someone who not only called but aggressively capitalized on the 87 crash, what similarities and differences do you see that collapse and this one?
I agree, of course, that we have not reached any form of capitulation although I am sure we have taken a few strides in that direction since last thursdays commentary. At some point, however, this market will yield fresh opportunities for sidelined cash whether a week, month or year from now. As a bearish fund I suspect that you are somewhat limited to the assets you can expose your investors to on an emergence from a capitulatory market, but if and when that climate should appear what securties did you see leading from the 87 period and which ones do you see leading from this environment?