Saturday, 3 December 2011

"A Global Financial Crisis of Epic Proprtions"

First, who is Kyle Bass?

See my post Debt Sustainability: Which Countries Are Beyond the Point of Return and Why

This guy is good. Sorry no video embed available, click on pic to start video...

This is not a cyclical rebound from a crisis we had two years and you should NOT be buying stocks because a P/E ratio is low relative to historical S&P behavior because the E is wrong. We are going to see declines and people don't know how to position themselves for declines. We are at peak earnings now! Earnings only look good because if you take all the bad assets and put them on the public balance sheet.

Is your super in cash or equities?

Bass's letter to clients:



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