Trends Have Reached Global Proportionsby Bob Wyckoff
One interesting aspect of what’s going on is the global nature of the credit explosion and now decline. Credit-fueled liquidity pushed asset valuations up dramatically across assets and in just about every part of the world. When I first started in the business, trends didn’t spread as quickly or from market to market around the world like they do today. I’d imagine there’s no going back on that front.