"Do you remain concerned about the state of large financial institutions in light of the recent bailout of Bear Stearns?" Chuck Royce interview.
Yes, I am, absolutely. It’s something that I think all investors will be paying close attention to in the coming months. Prior to the Bear Stearns buyout by JP Morgan Chase, my view was that the ground had been cleared for a slow recovery for stocks, but only if there were no significant negative developments among our large financial institutions. Obviously, the Bear Stearns situation qualified as a major negative event. More specifically, it represented the consequences of the active de-leveraging that’s been going on since last summer as firms write down billions in bad debts. For now, we watch and wait for the market to begin acting with more confidence.
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Yes, I am, absolutely. It’s something that I think all investors will be paying close attention to in the coming months. Prior to the Bear Stearns buyout by JP Morgan Chase, my view was that the ground had been cleared for a slow recovery for stocks, but only if there were no significant negative developments among our large financial institutions. Obviously, the Bear Stearns situation qualified as a major negative event. More specifically, it represented the consequences of the active de-leveraging that’s been going on since last summer as firms write down billions in bad debts. For now, we watch and wait for the market to begin acting with more confidence.
Read the complete interview
Also check out:
