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"I believe that the current market environment is setting up for a major retrenchment in risk...

"I believe that the current market environment is setting up for a major retrenchment in risk assets," writes John Burbank to his investors, adding he has as strong of a conviction about Passport Capital's positioning as he's ever had. He thinks a recession is coming in 2012 or 2013, and with it a major decline in equity values.
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Comments (3)
  • WMARKW
    , contributor
    Comments (10471) | Send Message
     
    Gosh....so not ERCI and Hussman aren't the lone voices in the wilderness.
    9 Apr 2012, 04:24 PM Reply Like
  • huskers123
    , contributor
    Comments (36) | Send Message
     
    The value the market is at is where we should have been last year with the market multiple. I see alot of fear mongering from folks that got caught not in risk assets hoping for a significant correction. The correction might well have ended today. I see at least one more leg up before a plus 5% correction. If we break old highs lookout, could see a much higher market. Markets don't usually top until the retail investor is sucked into the market "all-in", then give it a few months then there will be a major correction.
    9 Apr 2012, 10:13 PM Reply Like
  • vision3001
    , contributor
    Comments (212) | Send Message
     
    This posting reminds me of "Aftershock: The Next Economy and America's Future", http://amzn.to/HvV7sw
    10 Apr 2012, 02:50 AM Reply Like
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