|To: carranza2 who wrote (111495)||10/9/2008 11:33:56 PM|
|From: Kayaker||1 Recommendation  Read Replies (1) | Respond to of 178569|
|[[ Tomorrow and the few trading days afterwards might be days presenting opportunities of a lifetime. ]]|
Or, as he notes.....
....A vicious circle of deleveraging, asset collapses, margin calls, and cascading falls in asset prices well below falling fundamentals, and panic is now underway. At this point severe damage is done and one cannot rule out a systemic collapse and a global depression....
Opportunities of a lifetime, or a quick flush down the toilet. Wish I could tell which.
Oil futures now down more than 4 bucks.
Canadian markets closed Monday (Thanksgiving). Not good timing.
Hedge fund redemptions are gas on the fire...
Matthews Capital liquidates Santos stock
John Durie | October 10, 2008
MATTHEWS Capital sold over $182 million of Santos stock today, in what is said to be part of a liquidation to ward off fund redemptions.
The Sydney-based firm, run by Phil Matthews, is a big player in the oil market, both in oil futures and oil companies, but with oil prices falling to 12-month lows and stock prices down sharply, its good fortune seems has run out for the moment....