Level of Disgust Rising
December 3rd, 2008 by Buck Woodford
During 2008’s massive swoon, I have done very little searching for anecdotal evidence that a bottom was near. In general I still believe too many folks retain a “oh, it will come back” mindset — which works extremely well in Bull markets — for these to be the absolute lows of this entire Bear.
But.. I copy/pasted an email forward I received today. These are absolutely the kind of messages that would typically be created near intermediate-term (1-4 months) bottoms in Bear markets. Now, we won’t be going “all in” tomorrow morning or anything; but it’s definitely a point taken.
FW: Christmas Dinner Menu 2008
Appetizers
Mélange Of Frozen Markets
Tossed Assets With Government Guarantees
Frisée Of Foreclosures And DefaultsMain dishes
Évaporation de Credit à la Cold Turkey
House Signature Dish
Seared Investors In Bottomless Pit With Caramelized Investments
Overheated Markets Without Oversight à la SEC
Braised Bankers Rump With Bailout CoulisDesserts
Sorbet Trio Of Shock, Disbelief And Insolvency
Off Balance Sheet flambéFeatured wine
Great Depression Grand Siècle 1933 méthode creditoise
This is the first post in a newly created category: “Signs of a Bottom”. But note the flipside: Although being occasionally bearish during the 2003-2008 Bull run, my first actual “Signs of a Top” post (quick, interesting read at this point) was in December 2006 — nearly a year before the actual peak. Timing these things is tough!
