Are We Ready to Surrender Just Yet?
Time to surrender, don't you think?
Lawrence Fink of BlackRock says so, and he means it in a nice way, which is a sign of the times I guess.
BlackRock Inc. Chief Executive Officer Laurence Fink said he's seeing signs of ``capitulation'' in financial markets, a broad selloff that usually proceeds the end of a bear market.Me, I'm a pessimist. I think this market's got a lot of fight left in it. Surrender? Hell no! This market is filled with piss and vinegar, and will die rather than capitulate.
``A year ago, I said we won't see a bottom until we see a capitulation,'' Fink, whose company is the largest publicly traded asset manager in the U.S., said today at an investment conference in New York. ``We are seeing a capitulation'' and financial markets may begin to recover by mid-2009, said Fink, 56.
© 2008 Gary Weiss. All rights reserved.
Labels: stock market