From Macro Man, a pretty cool financial blog:
"And so Macro Man has decided to bid adieu to an old friend, his equity short position. Most major indices are down 20%-25% this month alone. While it is of course foolish to suggest that further downside is impossible, Macro Man now believes that prices are discounting a bone-crushing recession and could actually be cheap. At the same time, the Four Horsemen of the Investment Apocalypse- Risk Aversion, De-leveraging, Illiquidity, and Panic- stalk the land like hounds from the bowels of Hell."
Sunday, October 12, 2008
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