dinsdag 13 november 2007

Het Neoliberale Geloof 62

'Talk of Worst Recession Since the 1930s
By DAN DORFMAN

After what Los Angeles
money manager Arnold Silver called "a brutal three days," the
question is: What now for the market?
A Wall Street superstar this year who runs Balestra Capital Partners, Jim Melcher,
says he's "worried about a recession. Not a normal one, but a very bad
one. The worst since the 1930s. I expect we'll see clear signs of it in six
months with a dramatic slowdown in the gross domestic product."
Balestra
Capital, a $350 million New York
hedge fund, was up 3% for the past three market sessions, when the Dow Jones
Industrials, spearheaded by widespread declines in financial stocks and fears
of more billion-dollar-plus asset write-downs, tumbled more than 677 points,
or about 4.5%. The Nasdaq fared worse, skidding about 7%, triggered by across-the-board
declines in those fast-stepping technology stocks.
Balestra
has increased in value by 175% so far this year, Mr. Melcher tells me. A
9-year-old fund, it has posted compounded annual growth of about 30% since
its inception.
Mr.
Melcher, a market bear, had some pretty discouraging words. "What I
think is not good for the country, but good for me." he says. His basic advice to the country's roughly 80 million
stock players: Run for the hills — the worst is far from over. An investor's
stock portfolio now, he believes, should be only about half of what it might
normally be.'

Lees verder: http://www.nysun.com/article/66268

Geen opmerkingen:

Peter Flik en Chuck Berry-Promised Land

mijn unieke collega Peter Flik, die de vrijzinnig protestantse radio omroep de VPRO maakte is niet meer. ik koester duizenden herinneringen ...