Sunday, November 11, 2007

Markets

I am pretty convinced that markets are in for a real adjustment. I was travelling this week with a famous manager, who is a good friend of George Soros. He manages some $5bln and his bank manages a total of $22bln+. He explained that he took his clients out of equities last summer and that due to the credit crunch, weaker dollar and oil prices, he sees a major correction ahead. I agree with that. Buy hedge funds and go long on cash and Middle Eastern equities...