all investments are valued on the basis of earnings going forward
there should be a one to one relationship between market prices and the value of businesses
this phantom banking system has created extreme uncertainty at the moment
people are talking about trillions of dollars in credit deriviative swaps
most people don't even know what they are
this creates fear and uncertainity
as result people can't accurately forecast the future
people are nervous nellies when it comes to money and jump at shadows
They like to be safe than sorry so they sell
they have therefore sold thier shares at well below what they are worth.
we'll see if I'm right
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is resource bubble like tech bubble, page-23
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