Quote:
Originally Posted by LessinSF
Bite me. Some won't, but how many come back the moment shelter-in-place orders are lifted? It is a ridicuous comparision. I wish (because I am short) that it is systemic like the Great Depression, but it is not. So, just stop.
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This is not systemic. But it’s like melanoma. Catch it early, 95% cure rate. Let it get past 4 mm depth, 5 year survival goes to 25%.
Ty’s speaking bluntly, but this gets systemic fast. His point is important.
I’m not an economist, but I play one here, and I know loan workouts better than a lot, and this is classic story about bankruptcy. Everything’s slow slow slow and everything’s fine... and then suddenly it isn’t.
This bull market resurgence is a pile of shit even if we find a cure. It’s generated to let the big guys get out and leave the little shmucks holding the bag. I’d wait for this to crater back to 17k and then buy again. Fucking cannibals’ market.
