Posted by shamutooth on 12th of Jul 2009 at 11:08 am
With a few members of my family in the banking business,one
thing continues to jump out at us almost universally. That one
thing is that NOBODY has sold any of their stocks/mutual funds
unless they've been forced to sell to cover living expenses. This
is not how bear markets come to an end. We are not seeing any
public capitulation,just the recurring theme of holding long term
and the markets will come back. It's just amazing to me that most
are down 50% and have not sold,and are not even thinking of
selling! Another thing they're seeing is that everyone who can is
deleveraging/consolidating like crazy,and are vowing not to
get in the credit trap again. Everything is just so consistant
with past historical examples of post credit bubble
contractions that it's just frightening to me what the future will
bring.
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California vs Texas
Posted by shamutooth on 12th of Jul 2009 at 11:08 am
With a few members of my family in the banking business,one thing continues to jump out at us almost universally. That one thing is that NOBODY has sold any of their stocks/mutual funds unless they've been forced to sell to cover living expenses. This is not how bear markets come to an end. We are not seeing any public capitulation,just the recurring theme of holding long term and the markets will come back. It's just amazing to me that most are down 50% and have not sold,and are not even thinking of selling! Another thing they're seeing is that everyone who can is deleveraging/consolidating like crazy,and are vowing not to get in the credit trap again. Everything is just so consistant with past historical examples of post credit bubble contractions that it's just frightening to me what the future will bring.