Seth Klarman: “We Are Recreating The Markets Of 2007”
by Tyler Durden
ZeroHedge.com
09/17/2014
“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
