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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (28160)	9/20/2007 6:14:52 PM
From: Bill Wexler	Read Replies (2) of 78525

You are correct. I'm "all in". When I see an economic calamity unfolding, I don't want to play stockpicker. I simply pack up my bags and leave. (Well..I am shorting the market - but you get my drift). This is an economic calamity without precedent. Whenever I debate my friends about this, it always boils down to this one riddle that I pose: "Explain how you deflate roughly $15 trillion out of this housing bubble + service $10 trillion in debt and keep earnings momentum going in an economy with a GDP that is 3/4 dependent on consumer spending." Crickets. The stock market has had a great run since 1980. In my opinion, it's over. After Bernake pretty much confirmed my worst fears by cutting rates, I now look out over the sea of U.S. equities and see nothing but shorting opportunities...starting with retailers.

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