CHAPTER 18WILD CARDS
Unwinding the Excesses—Fallout from the Financial Crisis
The financial crisis that erupted in the United States in 2008 and 2009 is a wild card, a skeleton in the closet, that is not likely to go away quietly. This makes the current investment environment much different from the environment we had all been used to.
Basically, we are now in the process of unwinding financial excesses that built up for decades and decades. Deleveraging processes don’t complete themselves in just a few months; it takes many years, and the repercussions can be wide ranging and unforeseen. Our banking and financial systems are still very strained. Financial stocks have been underperforming for a long time, and I suspect that they are going to ...
Get Deemer on Technical Analysis: Expert Insights on Timing the Market and Profiting in the Long Run now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
