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Strategies & Market Trends : John Pitera's Market Laboratory
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To: nspolar who wrote (9645)7/11/2008 2:46:02 PM
From: John Pitera  Read Replies (2) of 33421
 
TF, I've actually seen a lot of commentary and analysis show up on this thread and then it seems to make the rounds on CNBC etc..... but that could well be just that it's the topical that is the News dejour.

I was happy to see MS's David Darst cohosting on CNBC earlier this week the day after I mentioned that he was looking for another 10 percent down in US equities.

LEH is back down to the panic lows of mid march when Bear Sterns imploded and went poof in a cloud of smoke. You know Bruce Sherman, the wizard of Private capital Management, who was is one of the leading proponents of looking at a companies discretionary free cash flow... even he got big enought that he got ensnared the Bear Sterns and took the stock down from at least the 70's to it's liquidation value. Even the longer term pros are getting roughed up in here.

Goldman Sachs had an unusually high number of days this past Q where they lost money on the day and of course value maven Bill Miller has been getting worked over.... let's see how he is making out in the following post. ( and these are smart guys who I really respect, it just goes to show that the cycles of greed and fear get so over done.... we literally need to clear the field of almost everyone, every 30 years or so.

JOhn
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