2008-10-20 — seekingalpha.com
If you ask me what makes me most bearish, what makes me think that the S&P 500 could go to 600, it is not the recession. We have gone through recessions before, even credit-induced ones.
No, what makes me very worried and why I am not deploying capital just yet, even though the market is getting cheap, is the tsunami of hedge fund sales that may be on the horizon.
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