Andy Singh has written a good piece which triggered even better response from readers. Portfolio Manager has given a point by point response, I agree with him. This is no time to be optimistic but to preserve capital for better opportunities. Since Andy's latest article the market caved in further on Lehman bankruptcy, Merrill Lynch swallowed by BOA, AIG on life support looking to Fed for usd 40bn bailout fund much like the auto industry. Just goes to show how bad things are, likely more to come. We are going through a once in generation, no maybe three generation event- not a simple correction here and there.
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