A friend e-mailed me the following this morning:"Looks like it...

A friend e-mailed me the following this morning:

"Looks like it will be a double whammy for us.
HUI down 5% and markets down 4% so we can expect a 9% loss today.
Question is how far will this correction run?
Who can handle another GFC type loss?"

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I replied pointing out that there won't be another 2008 GFC style crash precisely because he and so many others are talking about it in advance.

I reminded him:

"Did you and everyone else who today is talking about another 2008 GFC type crash correctly predict or talk about the 2008 GFC crash BEFORE it happened?

That is precisely why we won't now have a 2008 style GFC crash because these events are not correctly predicted in advance by the investing public.