It turns out the IMF, despite assuring depositors that it has never lost money placed with the institution, decided to sink what could be unrecoverable billions into an obviously overindebted country, breaking many of their own rules along the way, in the largest bailout of its kind ever.
The first red flag might have been that they were cutting billion dollar checks to a woman holding a Louis Vuitton…
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Your patience won! Do you have downside target ?
No targets, they can only serve to harm me. Catching tops and bottoms is a humbling product of habits and luck.
Every day, I’ll come to the market and get a feel for the conditions. One day, it will feel right. I’ll probably be early and get smacked. Then everything will suddenly be okay again.
Thanks ! Let us know when you “feel right”. For me SP 1400ish will feel right.
Cain, what are your latest thoughts on AEC? Thanks.
AEC’s CEO is old and shrewd and wise.
They’re worried about interest rates and disruption from Fannie/Freddie reform, so they’re moving in to make sure nothing happens.
If they’re wrong, the stock is fairly priced – my theory of a push above $20 might be impaired for a while though. If they’re right, their competition gets dragged into the abyss to be devoured and they’re sitting pretty.