Friday, April 11, 2008

Defying gravity

"...the equity markets are simply not acting in a rational manner given the underlying issues in the economy and credit markets"

So it's not just my perception. Read Karl "hold cash" Denninger's latest.

1 comment:

Semaj Mahgih said...

Might be worth remembering the reaction of the equity markets to the 1997 Asian panic.

They don't have a pedigree of sanity.