Sean Maher

By Any Definition, a Crash

I agree, and I called the commodity bubble right in the Spring, and have been aggressively short equities since August (see blog)...900 on the S&P is 10.4 (or the long time average) times cyclically adjusted peak earnings and was my floor target in this selling panic. Bombed out value opportunites abound, and on the first significant reversal in Libor/TED spread, stocks will have a record rally...we'll see how Lehman's CDS auction goes today.