TDI Episode 80: Predicting another 40% DOWN
October 23, 2008 11:59 am
Guest: Mish Shedlock and Andrew discuss a full range of concerns from the illegal $540 billion dollars that is being spent on money market mutual funds through Mish’s projection that the S&P should be somewhere near 600….or possibly even as low as 450.
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. As Mish tells us, Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
There are many concepts that are troubling that make us worry about the next leg for this market. For example, where is the Fed getting the money to prop up money market funds? Why is CALPERS using money from participants? Is Iceland and Argentina isolated? Is Bernanke able to handle this situation or is he way out of his league?
Stocks Discussed in this episode: Apple (AAPL), Goldman Sachs (GS), Capital One Financial (COF) MasterCard (MA) Potash (POT) Mosaic (MOS) T. Rowe Price (TROW) Franklin Resources (BEN), Proshares Ultra Oil & Gas (DIG) Proshares Ultra Materials (UYM) Morgan Stanley (MS)
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