Not even Christmas yet, and the sales have already begun...this is going to loead to many profit warnings in January IMO.
An interesting story I found:
http://uk.youtube.co...h?v=A7MmJIy0bjo
Rags, to riches, then to rags again...history is littlered with stories like this because of these things:
Fear is a more powerful emotion than greed
When the greed takes hold, anything is possible so people leverage to the highest degree.
When the leverage is attacked, the money available goes, and the whole thing implodes.
I heard of one frined where the bank just phoned him up and said, we are calling the loan. He said he needed the money. No matter, he had to sell to raise cash to repay the loan. Bank must call the next guy....we are calling your loan...but the price of my assets have started falling...no matter, he sells to raise the money. Bank picks up the phone....we are calling in the loan.....etc.
Market about to do an eagle
Started by
Tor
, Dec 25 2008 08:44 AM
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#1
Posted 25 December 2008 - 08:44 AM
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.