Now article by Fortune’s Shawn Tully is by far the most sensible article I’ve read in some time arguing that markets could come down substantially more from the 10% correction already in the works. I doubt it’ll play out that way, because in my experience markets only do “the right thing” long term. In terms of months, and even a few years, they’ll do any damn thing they want, no matter how little sense it makes. Still, it makes a lot more sense to me than any of the scare stories (subprime, dollar, oil, etc.). Ultimately, smart money sells off assets that under-perform as a function of the risk inherent in holding them. Money moves to other assets with acceptable risk/return. It’s simple, and fundamental.
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