David Fischer

How to Trade This 'Bear' Market - Barron's

Sorry, but never to late to sell. So far we have only seen the unwinding of some of the massive derrivative bubble, the most obvious subprime mortgage and some prime. The bottom won't come until your neighbor hands back the keys to the Mercedes, gets his diners club card cut at that customery friday night fine dining establishment, and the wife is selling Gucci hand bags at garage sales to raise money to pay the mortgage.
We are not even close. The game is only in the 3 rd inning. Too much trust was put in the current system, that the old sayings of paying cash, etc, are coming back to haunt those who trusted Wall street and the fed in this creative pyrmid scheme. This debt bubble won't be solved with more debt unfortunately. So unlike 2000, this one will have to be slow and painful. No superman cape will help the damage done here.