Fear and Greed

[shasta]

just watched on cnbc a interview with one of the worlds great investor old george soros he believe, anothier US$1trilion in sub prime bad debt to be annouced could be worst US financial down turn since depresion ,believes FED can,t do much else, BUT does not think it will be GLOBAL MELT DOWN

Malcolm

Ol George is probably shorting the $US, if he's making comments like that.

I mean didnt he once earn a $1b shorting the pound sterling?

[mark100]

Soros is always bearish (among other commentators) while others are always bullish. A bit like some posters on sharetrader. I prefer to listen to the views of those commentators who actually move from being bullish to bearish and vice versa. There are heaps of bears who claim to have called the 87 crash however on closer inspection a large portion called it well over a year before the top. The All Ords actually finished 87 marginally up such were the size of the gains in the final blow-off.

[Dr_Who]

I recall Soro losing big time in the 97 tech market crash. His tech fund lost billions.

[Hoop]

just watched on cnbc a interview with one of the worlds great investor old george soros he believe, anothier US$1trilion in sub prime bad debt to be annouced could be worst US financial down turn since depresion ,believes FED can,t do much else, BUT does not think it will be GLOBAL MELT DOWN

Late last year it was announced that the sub prime mess was the tip of the the iceberg, much of the loans were unknowns, the payment of interest may still be rolling in but asset backing may not be there.
They said back then that by midyear 2008 the extent of the crisis would be known... end of march April and May are the spring buying property season in the USA and this is the time when a high % of loans roll-over....
Don't have to be an expert to figure that a higher % of loans will be in default of their conditions....the FED have signaled a relaxed criteria to prevent a mass mortgagee sales, but.....????..... at some point this money still has to be found.

Agree with Soros.... It ain't over yet