But, the selling was far more pervasive and dramatic than simply a conscious adjustment of positions based upon new data. Thursday’s action screamed liquidation - and not all of it voluntary.
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But, the selling was far more pervasive and dramatic than simply a conscious adjustment of positions based upon new data. Thursday’s action screamed liquidation - and not all of it voluntary.
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I am often asked about individual bank stocks, especially JP Morgan. Generally my answer is that Bank of America, JP Morgan and a few others look to be likely survivors, but how profitable they will be I am really unsure. JP Morgan is a special discussion, because I point out a rather astonishing fact,...
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Yves Smith has picked up on a pet peeve of mine. In the midst of our crisis we have heard all kinds of cat calls about the failure of the “American Model” of financial capitalism, especially from Europeans. I find this fascinating given the far more leveraged and under supervised practices of their banks....
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