7. There will be much talk of the merits of “bottom-fishing” - especially by investment bankers trying to persuade private equity bidders and sovereign wealth funds to snap up cheaper-looking UK assets.
8. There will be sucker rallies. The bounce in share prices in May proved to be just that as investors took too sunny a view that the credit crunch was easing.
sucker-fishing with the talk of "bottom-fishing" and "the worst is over." Happening right at FR.
Ping!
I think we have to realize that tough economic times historically favor the election of Democrats/socialists who promise salvation. And since we have the Messiah running on the Dem side, it’s even more likely./s
The possibility that a shellshocked electorate inflicts this POS upon itself as alleged savior, ignorantly committing an act of partial suicide, scares the hell out of me.
11) Goldman Sachs, whose egos believed they were exempt from the subprime and credit mess by bankrolling it while shorting it at the same times takes it up where the sun doesn’t shine as so richly as they deserve.
Just like everyone else on wall street, they got caught chasing the yield curve and eventually got bit by what it was feeding. Welcome to the party you created.
Most who try to pick a bottom end up living in van down by the river.
Let the suckers try to pick the bottom. Wait for a bottom to occur, watch the blood flow, and then start going long once the carnage is over.
The only time to buy is when the prevailing attitude is that you’d have to be crazy to buy. We’re a long way from that point.
9. dow 7250.
“””sucker-fishing with the talk of “bottom-fishing” and “the worst is over.” Happening right at FR.””””
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“sucker-fishing”, lol, we used to fish for suckers on Upper Lake Michigan with a bow and arrow.
A couple of posts above mentioned a DOW 7250, I believe, maybe they said 7500. But that’s about exactly the target I have in mind. 7250-7500 corresponds with DOW lows from Sept 1998, Oct 2002 and March of 2003.
I would not be bottom fishing here unless you plan on waiting 10 years or so to get even again.
Now, since everybody on FR loves GOLD, (sarc), how’s about that nice $65 move in the barbarous relic in the last two days and a 13% increase in gold/silver stocks over the same two days.
Yep. Right alongside class-envy sentiments and calls for tighter regulation on eeevvvillll corporations.