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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (55416)8/27/2006 4:38:19 PM
From: YanivBA  Read Replies (1) of 116555
 
One of the things I am most worried about is that we haven't seen the financials lead on the way down. I think they deserve it.



I understand why in 2000-2003 they never fell like the S&P. They were considered a relatively simple business with a revenue stream that is well understood and they had the support of the housing market. But today with so much more leverage, faulty Value At Risk algorithms, a housing bust and (hopefully) a hedge fund bust they present so much risk it is unthinkable they maintain their dominant position.

YanivBA.
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