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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (12045)	2/28/2009 11:21:47 AM
From: Stoctrash	Respond to of 33421

JP...you don't have to remind me who was screaming "caution" about the CDS market for the past several years. IMHO, I think we have to point out that the deleveraging & devaluation is NOT over with yet. The CRE market, bank CC market and others are just starting their default ramps, so the next leg of pressure has begun. Your note on the legal actions that are about to begin against hedge fund managers is telling. They are not the only ones, the Avg Joe investment advisor, broker, and the biggest target IMHO is the bank brokers / advisors / wealth managers / financial consultants. These goofs are front and center on my radar as they have(had) deep pockets. I don't care about all the disclosure forms signed, some of this is criminal. The local news bee weekly has an add with this title: "Investment Claims...for Advisor caused losses in 401K's, Brokerage Accounts, Retirement Accounts, Trusts.,,,Free Consultation" I saw first hand how ugly this was going to get back in 2001, when I worked with a large bank who was trying to woo me into helping them build their brokerage unit. I saw their restricted mutual fund list, the list that you CANNOT sell to customers without 3 bank/investment "risk managers" signing off on it. It had all the Rydex funds on it, almost any sector fund except the bank index funds of course and also many hard asset classes! I was told "look at their last 10 year performance...why would you want to own those? What a damn joke I thought...these guys have not a clue. Buy and Hold...it's a crime.