Quote from the current ALF Monthly NTA update....
"We may be past the worst of the financial market crisis, at the three-quarters point in the housing construction downturn and one-third to halfway through the real estate deflation, but we are likely only one-fourth of the way into the recession.
Moreover, we have seen just 10% of the anticipated employment retrenchment , and the consumer pull back is just starting. That means we think we still have a long and hard downward trek ahead of us, fraught with unexpected obstacles."
Is ALF only just accepting the unexpected / market reality,
and the forces behind it ?
Uni of hard knocks - big winners and many small losers:(
Expected the unexpected :)
Kind Regards
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