"This is the problem people totally miss when they talk about risk-managed returns during crashes; they go back to the prior crash, which most of their sources had them miss, and they say "well it's not that, it's not a banking crisis". No no no, it's the clients of the banks that are the crisis right now. And the earnings and the credit losses, don't forget, these are all pro-cyclical realities."As they say, financial actors (regulators included) "are always fighting the prior battle"...
Tuesday, April 21, 2020
Quote of the Day
Hedgeye's Keith McCullough hints at what has some folks -- like some of the ones you see on financial networks -- totally missing the mark(et) in terms of the present state of general conditions: