I have listened to the bearish and the downcast in the
final stages of major negative market/episodes such as 1974
and 1982. That's when the depression and collapse talk rises
to a feverish din. Perhaps it is all the negative vibe on the
web, but the fear stories are bordering on hysteria now, even
though the bottom has yet to fall out of the economy. Strange
stuff indeed. As all know, the economic situation has been
deteriorating here in the US, and uncertainty shrouds the
outlook. Yet sentiment seems either over the top negative or
grossly cynical. Not what you would expect until after the
spit has hit the fan big time. I am hoping that the black
cloud blows over during the next six weeks, since it would be
unfortunate if folks stampeded when it is not clear they should.
- Peter Richardson
- Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!