I was wondering if bill gross saying "worst is over for banks" is because they own a ton of prefereds, that were getting clobbered on friday.
smells of panic.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Saturday, January 17, 2009
Bill gross
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