Interesting article by a blogger on Financial Times which explains the differing pictures seen in the credit and equity world at the moment.
The recent credit turmoil has hurt many banks (and investors) yet the recent massive losses disclosed by Citigroup, UBS and other US investment banks have not exactly hurt them. In mind-blowing contrast, their share prices have rocketed and the Dow Jones closed to a record on Monday.
Perhaps it is time to make gains in the stock markets while the euphoria is still bubbling. And remember to get out before the bears come mauling.
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