Friday, January 11, 2008

Bottom? Not so fast

Jim Cramer declared a bottom in financials yesterday on Mad Money. I don't think so. He's thinking that current situation is like 1990, to me it looks like 1930 (or 1990 in Japan). We need clarity on subrpime and prime writedowns. When writedowns are done, we'll have a bottom.

It's a year at least, maybe two, before we hit the bottom.

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