Seth Klarman: “We Are Recreating The Markets Of 2007”

Thursday, September 18, 2014
By Paul Martin

by Tyler Durden

“It’s not hard to reach the conclusion that so many investors feel good not because things are good but because investors have been seduced into feeling good – otherwise known as “the wealth effect.” We really are far along in re-creating the markets of 2007, which felt great but were deeply unstable when shocks started to pile up. Even Janet Yellen sees “pockets of increasing risk-taking” in the markets, yet she has made clear that she won’t raise rates to fight incipient bubbles. For all of our sakes, we really wish she would.”

The Rest…HERE

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