Big investors pulling the exit chute
By David Callaway
Aug. 19, 2010
SAN FRANCISCO (MarketWatch) — It’s a common misperception that nobody saw the financial crisis coming save a few savvy traders. In fact, everybody saw it coming.
It’s just that no one knew when or how it would manifest itself. Same thing is happening right now with the bond bubble.
Visitors to the trading floors, bars, pubs and restaurants in New York and London from 2004 through 2006 would commonly hear investors and financial types counting their blessings and profits, and saying, “when this thing finally ends it’s going to be ugly.”