The first interview of Hedge Fund Market Wizards is KILLING IT! amazon/books/dp/1118273044 "Equity markets would eventually notice, but being short equities is a hard trade because they might still keep going up for a long time. After a bull market that goes on for years, who is managing most of the money? The bears are all unemployed; they’re not managing any money at all. You have a few very flexible smart people, but they run relatively small amounts of money; so they don’t matter, either. The managers who are relentlessly bullish and who buy more every time the market goes down will be the ones who end up managing most of the money. So, you shouldn’t expect a big bull market to end in any rational fashion."
Posted on: Sat, 20 Jul 2013 20:02:16 +0000