Fun day on the markets today, with the only semi-stiched world coming apart at the seams for a host of reasons, not least of which is simple distrust of … everything financial. As a result, we got whoosh downward, the likes of which we haven’t seen in some time. It elicited quotes like this one, from Barton Biggs:
I do not know where the bottom is. I am basically 50% net long. I covered a little bit yesterday. I am now 60% net long and I wish I was not. I wish I was 10% or 20% net long.