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Thursday, January 21, 2010

Watching CNBC is like Doctors watching General Hospital

The reason for the recent selloff is that the market has rallied over 60% since last March's lows and is overvalued. Obama's bank proposal is not the ultimate cause.
Bank earnings will arguably be more stable without prop trading. GS has traded at a lower multiple than JPM or Citi because of its high weight of prop trading in its earnings.



The Big Picture � Blog Archive � Market Correction Underway

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