“Phew”, You Said ?
The Next Few Years Will Be Hard To Negotiate
On February 21, 2008 (Time to Change Bias ), I argued that we might be only half way through the current market decline, both in length and amplitude, but that since investors were clearly getting worried, it was not too early to change our contrarian bias and start looking for the positive side of the news:
“Of course, the current financial crisis hasn’t yet run its full course and things will get worse. But it is hard to argue that the global outlook and the lack of economic and political leadership are worse [today] than they were in the second half of the 1970s.”
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“Of course, the current financial crisis hasn’t yet run its full course and things will get worse. But it is hard to argue that the global outlook and the lack of economic and political leadership are worse [today] than they were in the second half of the 1970s.”
Click here to view the whole article.
François Sicart
23 May 2008
New York, NY 10019