Hope Springs Eternal
RiskReversal Pod
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The S&P and the NASDAQ Are Trading Like They're Worthless
The S&P after the Bear thing in mid-March rallied into mid-May, I think like 15% or something like that. And so to me, I just don't know how there's not a round two of what we just experienced over the last month. The big difference here, Dan, is that the kind of leverage that existed on the Wall Street banks, the marks that they were carrying on the subprime shit that was worth zero. These assets for the most part that have caused this quote, crisis, aren't worth zero.
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