Perhaps not 100 miles away tbird, a little more complicated than the party these days, but near enough.
Different time different place, this is no Lehman Brothers, closer to Long Term Capital in mid 90’s. Chinese will manage it, Yardeni is probably on the money.
“The reality is it is too big to fail, and I think the Chinese government is going to intervene big time. I don’t think they’re going to save management… but it will be restructured and in a way that won’t harm the economy too much over there and won’t affect the global economy or financial markets the way Lehman did,” said Yardeni.
Every thread has its “all going to hell in a hand cart” brigade, and of course much louder with any fuel.
Today has been a day for dry powder across lots of good plays, this should test lows again so not the days favourite, still not sure so nibbled a few.
Cheers Phil.
IVR Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
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