John Hussman

Viewpoint: Bear Stearns and a Crisis Averted — But For How Long? HW+

There has been a ton of discussion around the collapse-that-wasn’t at Bear Stearns over the weekend and the investment bank’s subsequent fire sale to JPMorgan Chase & Co., but much of the market chatter seems to be missing a much larger point. In a nutshell: it’s the underlying assets, stupid!