Thursday, April 3, 2008

Soros Boards the Climateer Lovetrain*

From Bloomberg:

Soros Sees Additional Market Declines After Reprieve
Billionaire George Soros called the current financial crisis the worst since the Great Depression and said markets will fall more this year after a brief rebound.

``We had a good bottom,'' Soros said yesterday in an interview in New York, referring to the rally in stocks and the dollar after JPMorgan Chase & Co. agreed to buy Bear Stearns Cos. on March 17. ``This will probably not prove to be the final bottom,'' he said, adding the rebound may last six weeks to three months as the U.S. moves closer to a recession.

Compare to:

...One possibility I've been toying with is a double recession following the credit crunch. The way this would play out in the stock market is a rotation out of commodities (but keep an eye on wheat) by the hot money back into equities with a run back toward the old highs on the S &P....
Gold Under $900; Oil Under $100. And: "Get Out of Commodities" - Barron's

*I'm bored with the O'Jays (Lovetrain), here's a live version of Locomotive Breath.